Real Estate Investors Better off Heading to Auctions – REO's spike 15%
A few modifications… a little less properties on the market… And REO properties jump…
While real estate prices are down as a whole for the first three days of November, prices in the foreclosure market grew over the same period, according to data from ForeclosureDataOnline.com.
Prices for real-estate owned (REO) property in Arizona jumped 15.51% to $285,257 for the first three days of November, compared to October’s average of $246,944.
California’s average price for REO properties increased 1.83% to $363,133; Nevada’s grew 1.45% to $310,943; Texas’ average REO price increased 1.27% to $134,125; and Florida had a 1.05% increase to $230,995.
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REO Prices Spike While Real Estate Market Prices Remain Low