“The days of buying discounted foreclosed homes throughout the United States seem to be coming to an end, according to a report by Zillow.
The foreclosure discount rate, for which Zillow compared the actual sale price of foreclosed homes nationwide with the estimated price of the same home if it were to sell in a non-distressed transaction, dropped from 9.1 percent in September 2011 to 7.7 percent in September 2012, meaning traditionally purchased home and ones owned by banks in foreclosures have almost evened out.
At the peak of the housing crisis in August 2009, prices of foreclosed homes were discounted at a national rate of 23.7 percent, on average, relative to the prices of non-distressed home. ”
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