The USA real estate market is very attractive to Australians because of low interest rates, lower house prices and numerous foreclosure USA listings. According to the latest numbers, more than 25% of all USA properties sold are foreclosures. Because the US housing market is stabilizing, investing in foreclosure homes USA is not as risky as it was few years ago. However, this does not mean that all foreclosure USA deals are good. Many foreclosure USA properties are sold as is, thus come with different issues. Therefore, before you buy certain foreclosure USA property, thoroughly inspect the house first (air conditioning, heating, plumbing and electrical systems and the structural integrity). Also, learn more about the neighborhood – crime rate, schools and demographics. Remember, if there are many foreclosure USA properties in one area, they can significantly reduce the values of other properties. Moreover, in some cities it is easier to make a good deal on a foreclosure USA property than in others. Thus, here are the most popular cities to invest in.
Kansas City – According to the last year reports, an average price of a foreclosure USA property was around $73,000. The average discount is about 51% and 29% of all properties listed for sale are foreclosures USA properties.
Pittsburgh –Here, the average price of all foreclosure homes USA is also around $73,000 and discount of even 48%. Compared with Kansas, 15% off all homes for sale are foreclosures.
San Francisco – Another foreclosure homes USA popular city where an average price of a foreclosure property is around $300,000. Nearly 50% of all houses for sale are foreclosures.
Charlotte – If this city is on your list for buying foreclosures USA property, you will pay an average sales price of around $115,000 with a 38% discount. Only 16% of all Charlotte sale houses are foreclosures.
Columbus – Columbus offers foreclosure for sale price of around $100,000 with 32% discount. The percent of foreclosure properties is 21%.
Cape Coral-Fort Myers – With an average sale price of $100,000 and a discount of 38%, this city takes its place on the list of the most popular cities to invest in. The percent of available foreclosures USA properties is 27%.
Tulsa – Tulsa is another great city to invest in. The average sales price of foreclosure homes is around $87,000 and the average discount is around 38%. Foreclosures USA properties listed for sale amount to 23% of the Tulsa eal estate market.