Foreclosed Homes Becoming Record Bargains

Irvine, CA, Dec. 3, 2010 -- Foreclosures sold for 32% less than homes not in foreclosure during the third quarter, according to Thursday's report by RealtyTrac.

The biggest average discount for any state was in Ohio, where foreclosures went for 45% below non-foreclosure sales.

That was, according to company RealtyTrac CEO James Saccacio, the biggest disparity since late 2005.

The savings were even greater for buyers who picked up a home that had been repossessed by the bank. Prices on these homes were 41% lower on average than non-foreclosed homes sold.

That means you could get a $200,000 house for $118,000, although many were in less than top condition.