Market Trends: 5/18/2012
Foreclosure / Bank-owned
Market Snapshot
Total Properties Listed:
590
Month-Over-Month Change: +.68%
Average List Price:
$104,194
Month-Over-Month Change: +3.45%
Median List Price:
$69,900
Month-Over-Month Change: -2.24%
Typical Property
Single-Family Home
3.24 Bedrooms
2.1 Baths
$104,194 Average List Price
/SqFt Average Price per SqFt.
Average Price by Bedrooms:
1 Bedroom:
$142,450
2 Bedrooms:
$51,041
3 Bedrooms:
$82,207
4 Bedrooms:
$160,338
5 Bedrooms:
$242,973
Top 5 Most Viewed Properties
Foreclosure / Bank-owned, AL Real Estate:
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Huntsville
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Huntsville: 13,696 Listings
Foreclosure / Bank-owned Real Estate
About Foreclosure / Bank-owned
Bank owned properties, or foreclosures occur when the home owner defaults on the mortgage payments of their home. In turn, the lender can seize the property and sell it as stated in the mortgage contract, and the owner loses title of the home. Proceeds from a foreclosure sale go towards mortgage debt and foreclosure expenses. There are three types of foreclosures: Conventional foreclosures, HUD Foreclosures and VA Foreclosures.
Typically foreclosures are priced below market value, so buyers could find a good deal on a foreclosed home. Foreclosures might be found in a bit of disrepair and are typically sold as is, but foreclosures could prove be a great investment for those who are willing to put a little bit of work into the property.