The Real Deal Miami

Foreclosed home market remains strong  

April 09, 2008 06:50PM

As the housing bust continues, one market that seems healthy is foreclosed
properties. Recent data shows that lender-owned homes account for about
one out of nine homes listed for sale. In Las Vegas, 52 percent of all
sales in March were foreclosure related. Bargain
hunters have kept the market strong, attending bus tours hosted by
brokers that feature entire neighborhoods of foreclosed homes. Larry
Salas of All-Star Realty Sales in Miami said all of his firm’s 150
listings are foreclosed properties, up from 25 or 30 just 18 months
ago.