Subscribe

Top 10 places to buy a foreclosed home

Here are the Top 10 metropolitan areas to buy a foreclosed home, according to RealtyTrac:

8. Poughkeepsie, N.Y. – 28 percent discount

  • close
    Engineer Milnes David inspects the chilled innards of a computer server outfitted with new radiator technology at IBM's Energy Efficiency Lab in Poughkeepsie, N.Y. Despite its high-tech employer, the metro area has so many foreclosed homes that at present purchase rates it would take 92 months to work through the supply of foreclosed homes that are on the market or coming on the market, RealtyTrac estimates.
    View Caption
  • About video ads
    View Caption
of

The Queen City of the Hudson River is home to Vassar College, an IBM plant, and foreclosed homes – lots of them. The metro area has a 92-month supply of bank-owned properties, the second-biggest backlog on RealtyTrac's Top 10 list. They're selling at a 28 percent discount. The area's employment grew 1 percent over the past 12 months and 2.5 percent over the past three years, which trails the national average of 4 percent. The median housing price is just under $200,000 and is up 4 percent over the past year, according to Trulia, an online real estate information site.

3 of 10

 
 
Make a Difference
Inspired? Here are some ways to make a difference on this issue.
FREE Newsletters
Get the Monitor stories you care about delivered to your inbox.
 

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK