RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its 2012 Year-End Metropolitan Foreclosure Market Report. The big news for Boise real estate is it has become one of the 5 worst places to buy a foreclosure.
Although being ranked one of the worst in anything sounds bad, in this case it’s not a bad thing. The Boise market has steadily decreased in the number of foreclosures and foreclosure filings over the last year by over 27%. In the RealtyTrac® report they use factors such as Months of inventory, average discount, and year of year percentage decrease to rank the Metros.
The Metros with the lowest scores were dominated by cities in the west, including Ogden, Utah; Las Vegas, Salt Lake City, Phoenix, Portland, Ore., San Jose, Calif., and Honolulu.
So with an improving foreclosure market here in Boise what does that mean for those still seeking a deal on a Foreclosure? Get pre-qualified, Be ready to jump when it hits the market, and be ready for some competition.