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More Chances for Buying Greenville Bank Owned Homes for Sale

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By : Allana Castro    99 or more times read
There are more opportunities for finding attractively-priced Greenville bank owned homes for sale, as foreclosures surged in the area in May. Total filings in Greenville County rose by 8.5 percent over the month to 513 filings, accounting for 13 percent of total filings in South Carolina.

One major provider of foreclosure listings currently has 690 units of REO homes for sale in the city of Greenville, making up more than 21 percent of the total number of units for sale in the area. The average listing price for all types of homes is currently $250,198, and the median price for all homes sold in April was $126,400.

Among the large counties of South Carolina, Greenville posted the second highest number of foreclosures in May, second only to Charleston. Dorchester, meanwhile, posted the highest rate of foreclosure.

Of the more than 500 Greenville homes that entered foreclosure in May, 98 units became Greenville bank owned homes for sale. More than 200 were posted for public foreclosure auction while almost 200 were hit with lis pendens.

Bank owned properties in South Carolina also increased in number in May. More than 4,000 homes statewide were hit with filings, higher by 29.2 percent than the April total and higher by 31.4 percent than the May 2009 total. Of this total, nearly 32 percent of total filings or 1,285 homes became REO units. The May REO total marked a jump of 32.3 percent from the April REO total of 971.

Local analysts said that despite the drop in the statewide unemployment rate, foreclosures rose because the jobless rate is still among the ten highest rates in the country. Nevertheless, residents hope that the jobless rate will continue to decline as more companies are expanding and creating jobs, particularly in the auto and green manufacturing industries.

The operations of the International Center for Automotive Research and other enterprises in Greenville are among several great reasons for investing in Greenville bank owned homes for sale.
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