Foreclosed home market remains strong

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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.  

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