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Distressed property auction sales have attracted buyers in Michigan. Despite declining property values, analysts hope the housing sales will help the area recover.
Sheriff sales and auction properties in some North Carolina areas are getting hit by another wave of price declines. The decline was attributed to job losses.
Cheap houses and other types of residential properties attracted more buyers in January in Snohomish County. Sales of residences rose in the area by over 7%.
Sales of existing houses and bank owned rentals surged in most metro areas of Florida last year. The whole state also recorded higher sales in the existing residential property market in 2010.
Total number of foreclosed and repossessed houses recorded in some areas of Texas declined in January when compared with the previous month. In some markets, the decrease was as high as over 30%.
Contracts to purchase bank owned repos and other residential properties are expected to rise in California. For 2011, realtors predict more buying activities.
Bank owned land and other cheap pieces of undeveloped real estate are gaining the interest of investors. In Minnesota, a farmland was bought by a REIT recently.
In terms of sales, office spaces in some areas of Arizona are doing better than foreclosed single family houses. Activities in the commercial property market are higher than in the residential market.
Foreclosed apartment buildings are expected to gain market share in Minneapolis in 2011. The prediction was based on a decline in multifamily building permits.
Even for sale by owner properties are being sold at much lower prices in Kentucky. Realtors stated that, currently, the area's housing is a buyer's market.
Multi families foreclosed properties can also be found in Oklahoma. Despite this, the state's housing market is actually doing much better than most U.S. areas.
Bank owned repos depressing residential values are not the only problem for U.S. households. Housing costs are also taking a huge percentage of their income.
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The number of bank owned rental property in Puget Sound may be dipping. Real estate developers are now being talked into unloading more of their remaining units.
Relocation of residents is already starting in Jersey City as the area undergoes revitalization. The area received a grant from the U.S. federal government.
Listings of houses at auctions in Ohio are expected to gain buyers as the number of Asians and Hispanics rises. Minority populations rose in the past decade.