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Top Reasons for Investing in California Federal Foreclosures

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By : John Cutts    99 or more times read
There are plenty of factors that make the case for investing in federal foreclosures in California. Despite the budget problems currently faced by the state, California still holds a lot of opportunities unique to the state and is still among the most popular destinations in the world.

Among the 50 states, California is the most populated, the third-largest in land area, the most diverse in geography and home to 8 of the country’s 50 largest cities, including Los Angeles, San Francisco, San Diego and San Jose.

Compared to other countries, California ranks among the ten largest economies and among the 35 largest nations in population.

With its large population and economy, it is a given that real estate investments in the state have great prospects for high returns. There will always be buyers for completed foreclosures and pre foreclosures in California, particularly if these properties are purchased at low prices, fixed and then resold also at affordable prices.

In various cities of California, there are relatively high inventories of distressed properties. Buyers can look for federal foreclosures as these are usually priced lower than comparable bank owned homes and are offered to owner occupant buyers first before they are made available to investors.

For people interested in Bakersfield foreclosure investing, there are currently 6,659 units in residential foreclosure listings in the city, accounting for a staggering 79 percent of all homes available for sale. There are almost 1,800 nondistressed pre-owned homes for sale, and the sales price for median for all types of homes was $144,000 as of the most recent report. The average listing price is $251,218.

These numbers show that people planning to buy home foreclosures for sale in Bakersfield and in other cities of California can expect substantial discounts. In a recent report on foreclosure sales in the country for the period January to March, it was shown that the price discounts for federal foreclosures, distressed properties and bank owned homes in California averaged 26.7 percent compared to the average price of non-foreclosure homes.

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