Top 10 U.S. Cities to Buy a Foreclosure

Top places to buy a foreclosureYou’ve probably heard about Las Vegas, Miami and Phoenix being hotspots for buying foreclosures and turning a hefty profit. But the tide is shifting, according to a recent Equifax Finance Blog article, “

Top 10 Cities for Buying Foreclosures,” and if you want to take advantage of it, you need to know where to invest! Foreclosure activity in the Sand States – California, Arizona, Nevada, and Florida – over the past  few years has been high, as the number of foreclosures has been plentiful, the prices on these properties has been affordable and the number of renters looking for homes in these areas has been abundant. But here recently, too many investors fighting for a dwindling number of foreclosures has forced the prices on  these properties up, decreasing their profitability.

So, investors are now headed to the Midwest and Northeast for foreclosure investment opportunities. These areas are experiencing a release in the backlog of foreclosures there due to the state’s judicial systems and foreclosures in these areas have healthy foreclosure discounts (a measure of profitability), abundant supply and reasonable prices. The top ten list is made up of: The list includes: Nassau-Suffolk, NY; Edison-New Brunswick, NJ; Chicago, Orlando, FL; New York; Tampa/St.Petersburg; Santa Ana; Atlanta; Seattle; and Washington, DC.

Get the full article on the Equifax Finance Blog, where you can also get all kinds of advice on real estate investing and personal finance, from saving money for retirement, insurance, credit scores, preventing identity theft and

types of identity theft and more.

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