5 Worst Places to Buy Foreclosures in 2013
Second-worst market: Ogden, Utah
Ogden has seen its foreclosure crisis ease in tandem with improving conditions in Salt Lake City, some 40 miles to the south.
Foreclosure-related filings dropped by 50.1% last year in Ogden, leaving the 547,000-population metro area with just a 13-month supply of seized properties up for resale. As a result, the average Ogden foreclosure buyer got only a 14.7% discount last year.Blomquist attributes Ogden's bottoming out to Utah's speedy nonjudicial-foreclosure process. He adds that the average Ogden home-seizure case finalized during 2012's fourth quarter took 449 days to complete, though -- up 96 days from three months earlier. Blomquist isn't sure what's behind the increase, but calls it "a warning flag. It means there could be more foreclosures hitting the resale market down the pike."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV