Ohio’s foreclosed homes are the best bargain in U.S.

30 Jun 2010, by Benjamin Luftman in Misc, News

A report from RealtyTrac Inc. concludes today that Ohio offers the best deal on foreclosed houses in the nation.

“According to the study, foreclosed Ohio homes sold for an average of $79,762 during the first three months of the year — 39.5 percent less than nonforeclosed homes fetched. That discount was the largest of any state and well above the national average of 26.7 percent for foreclosed homes.”

Although these homes are so heavily discounted, there are some downfalls and buyers should be careful. Most of these homes have had the utilities shut off for some time and may need a lot of work done.

“RealtyTrac defines foreclosure broadly to include all properties that have received a default notice, been scheduled for sheriff sale or been repossessed.”

read more here: The Columbus Dispatch