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December 22, 2014

10 Best Places to Buy a Foreclosure in 2013

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10 Best Places to Buy a Foreclosure in 2013

If you’re looking for big foreclosure deals, Florida may offer the most, according to a a new study by RealtyTrac. Palm Bay, Fla., topped its list of the best places to buy a foreclosure in 2013. Foreclosures accounted for nearly 24 percent of all sales in Palm Bay last year, and buyers tended to pay 28 percent less for a home in foreclosure than other homes. 

The following are the markets with the high number of foreclosures available and some of the largest price discounts for foreclosures, according to RealtyTrac.

  • Palm Bay, Fla.

Average foreclosure discount: 28 percent

  • Rochester, N.Y.

Average foreclosure discount: 26 percent

  • Albany, N.Y.

Average foreclosure discount: 35 percent

  • New York City

Average foreclosure discount: 40 percent

  • Lakeland, Fla.

Average foreclosure discount: 15 percent

  • Tampa, Fla.

Average foreclosure discount: 27 percent

  • Jacksonville, Fla.

Average foreclosure discount: 32 percent

  • Poughkeepsie, N.Y.

Average foreclosure discount: 28 percent

  • Orlando, Fla.

Average foreclosure discount: 19 percent

  • Chicago

Average foreclosure discount: 46 percent

Source: “Best Places to Buy Foreclosures,” CNNMoney (Jan. 31, 2013)