Here are the 10 states where foreclosed properties were offered at the biggest discount from market price during 2010, according to RealtyTrac.com.
1. Ohio, 43 percent discount
2. Kentucky, 40 percent discount
3. Tennessee, 35 percent discount
4. California, 35 percent discount
5. Pennsylvania, 35 percent discount
6. Illinois, 35 percent discount
7. New Jersey, 35 percent discount
8. Michigan, 35 percent discount
9. Georgia, 35 percent discount
10. Wisconsin, 35 percent discount
Even in states that don't make this list, there are some tremendous markdowns on houses that have been through foreclosure and are now bank-owned. Our friends at Zillow.com assembled a few dramatic examples from the different parts of the country for us. Check them out:
Mountain : Northeast Colorado Springs
4 bedroom, 2 bath house for sale for $102,900
29.8 percent below its December 2007 sale price
40.5 percent below Zillow's median home value for Colorado Springs of $173,000.
Western area: Indio, Calif.
8-year-old house for sale for $109,000
70.5 percent below its December 2004 sale price
36.5 percent below Zillow's median home value for Indio of $171,600
Midwest: Yorkville, Ill.
Builder's model townhouse for sale for $119,900
22.3 percent below its April 2010 list price
37.6 percent below Zillow's median home value for Yorkville of $192,100
South: Columbia, S.C.
Gracious 3 bedroom for sale for $64,000
27.8 percent below its August 1998 sale price
48.8 percent below Zillow's median home value for Columbia of $126,700
Northeast: Swoyersville, Penn.
Charming traditional home for sale for $52,000
45.5 percent below Zillow's "Zestimate" of its value
43.1 percent below Zillow's median home value for Swoyersville of $93,000
Northeast: West Brookfield, Mass.
Spacious contemporary for sale for $134,900
65.7 percent below its June 2010 sale price
21.9 percent below Zillow's median home value for West Brookfield of $172,700
Click HERE to learn more about buying foreclosed homes.
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