An analysis by Zillow shows that home buyers nationwide could expect a discount of 7.7 percent in September when buying a bank-owned home compared with the same home in a non-distressed sale.
"The smallest foreclosure discount is found in places where competition for homes is so high, people there are willing to pay the same amount for a foreclosure re-sale that they would for a non-distressed home simply to take advantage of historic affordability," said Zillow Chief Economist Dr. Stan Humphries.
Full article from Zillow.
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