Real estate prices down, foreclosure prices up

Real estate prices on the whole are down for the first days of November, but foreclosure sale prices have risen, according to a report released today from Foreclosure Data Online. Arizona saw the biggest price jump among foreclosed homes — the average price of a foreclosed home there is $285,257, up 15 percent from $246,944 in October. Other states hardest hit by the foreclosure wave also saw slight increases in foreclosed home sale prices. California, Florida, Nevada and Texas all saw an average increase of 1.4 percent. The overall increase in sale prices can be attributed to fewer foreclosed homes on the market because investors are snapping up the remaining foreclosures, according to the report. TRD