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Pinellas County Stats Comparison for Foreclosures
For those of you that think a foreclosure is a cheep way to buy a house, take note of the current trends. In the 3rd quarter of 2010, when foreclosures were in abundance and banks were looking to unload their inventory, the average foreclosure was selling for $76,990. In the 3rd quarter of 2016, the average foreclosure is selling for $180,596. Gone are the days when you could buy a foreclosed house at deep discounts. It's a sellers market and the banks know that. They do not have as many properties on their books and the persons job it is to sell these for the bank is going to sell it at market value and recoup as much of their losses as they can. 
Something else a buyer must consider when looking at foreclosed properties: most of them will need repairs. When an owner defaults on their loan, they are doing nothing to maintain the house, especially once they get notice that the bank has started foreclosure procedures. Not only are you going to pay market value, you will need to have money to do the repairs after closing. 
And one final consideration: In order to get approved for a mortgage, the house has to ... more

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