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2011 TOP 10 Best Cities of to Buy Foreclosures

By
Real Estate Agent with Century 21 Showcase, REALTORS® CalBRE#01385517

RealtyTrac has released the results of its statistical study on which U.S. cities are the best places to buy foreclosures in 2011. It started with the 100 most highly populated metropolitan areas, then used a 10-category criteria of things like unemployment rates, foreclosure activity, and sales prices to narrow the field. The result is the 10 best cities to buy and invest in foreclosures this year:

  1. Akron, OH
  2. Rochester, NY
  3. Buffalo, NY
  4. Cleveland, OH
  5. Portland, ME
  6. Milwaukee, WI
  7. San Jose, CA
  8. Memphis, TN
  9. San Diego, CA
  10. Durham, NC

If you are a Realtor located in or near these cities, how can you make the most of this information? Start by getting it out to your past clients and spheres. Put a "time to buy a bargain or get into real estate investing" spin on it. Repeatedly and often get word out about this. Perhaps issue a press release about your city being in the top 10 or pitch an article angle to your local media. Go beyond just "we're in the top 10." Assess what this really means for your local housing market-good and bad. If you are a new or experienced investor located in these cities or thinking about expanding your real estate portfolio into these geographic areas, it's time to give these cities a serious look.

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