Foreclosure properties are being snapped up by foreign investors in bulk, based on a report from the National Association of Realtors. The strengths of other currencies against the American dollar and the bargain prices of foreclosure properties have been driving the increased sales.
Seattle foreclosure homes have been pushing down condo prices, particularly high-end condos. Condo units at the Escale and Four Seasons are being sold off at prices 20 to 50 percent below their initial prices.
Miami pre foreclosures continue to benefit home buyers as any increase in the foreclosure inventory mean more choices and bigger price discounts. The median for single family homes in Miami dropped by 2 percent to $191,100 in February.
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There are still a lot of Cape Coral foreclosed homes to choose from as mortgage defaults and foreclosure filings continue to surge in the area. Foreclosures in Cape Coral rose by 6 percent in February year-over-year.
Chicago foreclosures for sale pulled down house prices during the July-September quarter and contributed to the 2.4-percent increase in home sales. The sales price median in the metro area dropped from $244,900 to $205,000.
The expiring tax credits and the price impact of REO homes drove the frenzy of homebuying in Denver in April. Closed home sales shot up by 24 percent to 4,188 units and pending sales spiked to 6,616 units.
Chicago foreclosure homes are being curbed by a partnership among a group of title attorneys, a nonprofit and the city of Chicago. Foreclosure filings soared in the Chicago area by over 10 percent to 22,658 in 2009.
As Columbus pre foreclosures slowed, home prices improved. In February, the average home price in Central Ohio rose by 12 percent to $149,498. Foreclosure activity slowed in Columbus by more than 9 percent in 2009.
Phoenix home foreclosures surged by almost 4 percent in January this year from December 2009. Similarly, Arizona foreclosure activity also surged, posting a total of 21,048 filings in January.
San Francisco home foreclosures pushed up total home sales in December last year as 32.3 percent of all homes resold during the month were foreclosed houses. The sales performance marked the highest sales volume for the month of December since 2006.
Jacksonville home foreclosures continued their downward pressure on home prices in 2009 and in January this year. The median price for single-family homes dropped to $152,200 in 2009 and further dropped to $133,990 in January this year.
Home sales soared in the midst of a surge in Columbus pre foreclosures in the first quarter. A total of 3,714 foreclosure filings and 3,873 home sales were posted in the Columbus region during the quarter.
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