Florida and Ohio Still Offering Big Discounts on Foreclosures

The National Association of REALTORS® recently reported that foreclosures nationwide sold for an average discount of 17 percent below market value in November. But in some places, the discounts may be even deeper, especially in Ohio and Florida.

A new study from RealtyTrac shows that Ohio has six cities in the top 12 places offering some of the largest discounts on foreclosed homes. Florida has two cities in the top 12.

According to the RealtyTrac study, the following cities offer some of the biggest discounts on foreclosures:

1. Fort Myers, Fla.: 65% average discount on foreclosures
2. Columbus, Ohio: 63%
3. Cleveland, Ohio: 63%
4. Fresno, Calif.: 62%
5. Pittsburgh, Pa.: 60%
6. Atlanta, Ga.: 57%
7. Canton, Ohio: 56%
8. Cincinnati, Ohio: 55%
9. Akron, Ohio: 55%
10. Memphis, Tenn.: 54%
11. Vero Beach, Fla.: 51%
12. Dayton, Ohio: 51%
13. Richmond, Va.: 49%

Source: RealtyTrac