Last month, I attended NAHB’s midyear meeting in Miami and had the pleasure of sitting in on a presentation by Daniel Swift, president and CEO of Des Moines-based architecture group BSB Design.
Oklahoma leads states with biggest foreclosure bargains
As of December 2011, Oklahoma sports the highest foreclosure savings rate, according to a Business Insider story based on RealtyTrac data.
foreclosure, savings, December 2011, Business Insider, RealtyTrac, rate
As of December 2011, Oklahoma sports the highest foreclosure savings rate, according to a Business Insider story based on RealtyTrac data. The average foreclosure sales price in that state is just under $75,000, an average savings of 50 percent. Virginia rounds out the top 10 with a 37 percent savings rate.
The savings are linked to a 9 percent nationwide decrease in total foreclosures in December. This in turn led to sales that further depressed home prices. Savings are determined by measuring average sales prices against average foreclosure sales prices. It is estimated that 1 in every 1,052 housing units in the state received a foreclosure filing in December.
To see the rest of the RealtyTrac data, click here.