The foreclosure crisis in Indiana has opened up just over 40,000 repossessed homes for the smart buyer who wants to place an offer. While the state is one of the smallest in the Midwest portion of the country, it contains seven large cities with much of the state’s population concentrated in these areas.
If sports is your big love, racing, football and basketball all have major footprints all over the state, with the Pacers, Colts and the Indianapolis 500 Motor Speedway all located in the state.
Affordable housing is abundant in several well-known Indiana cities and, with the proximity of Chicago to the north of the state, your employment opportunities are wide open. Cities such as Gary, Fort Wayne, South Bend and Indianapolis figure largely in the numbers of cheap homes available for sale through foreclosures in Indiana.
Indiana Foreclosure Listings
RealtyStore.com shows that 40,656 homes are in foreclosure status with 1,588 of these concentrated in Marion County. Indianapolis, Fort Wayne, Gary and Elkhart have the highest numbers of REO listings.
More Indiana Foreclosure Numbers
Begin doing a little research and you will see that more than 1,300 homes are now in some kind of foreclosure status – tax deed sales, Notice of Default, distressed property for sale, auction, short sales, home government sales, rent-to-own, REO foreclosures and Fannie Mae/Freddie Mac. Depending upon where in Indiana you want to live, what you want to spend and the homes you look at, you can find a home that meets the needs of you and your family.
The state offers industrial areas, university communities (South Bend) and even an area that has been voted an All-America City for three decades in a row (Ft. Wayne). HUD grants for the city of Gary are helping this area to rebound, encouraging new development and home revitalization.