New York Foreclosure Homes

Written by Stephanie Dula
Bookmark and Share

New York State is home to some of the most active real estate markets in the world, most notably New York City. While the city isn't known for its affordability, there is always the possibility of purchasing foreclosure properties at below-market value to resell for profit. The Big Apple maintains its own real estate niche, with its own methods for marketing and selling foreclosure property, so it's important to fully understand the market before plunging into the investment business here.

New York's Quality Communities

The state also boasts some more traditional markets, many of which are in desirable communities designed to house those who commute to work in NYC. Both Nassau and Suffolk counties are located on Long Island, about 20 minutes from the city. This area has been extremely popular with families with school-age children since it maintains one of the highest achieving public school systems in the country.

This area is also a popular place to buy a home; there are many reasonably priced houses here. Its low property tax is another plus for those looking to for an alternative to the competitive and costly NYC market. Its crime rate also remains low as compared to other cities of the same size across the nation.

Syracuse is another notable real estate development possibility, known for its affordability for both residents and businesses. This and many other central New York communities benefit from a low cost of living and economic revitalization efforts. Whatever sort of New York foreclosure property is sought, it can be found using one of many listing services online which focus on this unique investment opportunity.

Bookmark and Share