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All told, 190,121 U.S. bank-owned homes or properties in some stage of the foreclosure process were sold in the first quarter. Georgia had the biggest share of foreclosure-related sales at 35 percent, followed by Illinois with 32 percent and California with 30 percent. Foreclosure-related sales made up less than 10 percent of all home sales in Massachusetts, New York and New Jersey, the firm said. Bank-owned homes sold, on average, for $147,810 in the first quarter. That translates to an average discount of 38 percent compared with the average sale price of homes that were not foreclosure, RealtyTrac said. That's a bigger savings than a year earlier, when it the discount was 34 percent, but down from 39 percent in the last three months of 2012. Homes already in the foreclosure process sold, on average, for $187,040, which amounts to an average discount of 22 percent versus homes not in foreclosure. That's up from an average savings of 20 percent a year earlier.
[Associated
Press;
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