Boca Raton Foreclosure Listings

Foreclosure Listings in Boca Raton

Boca Raton, located in Palm Beach County, Florida, is a beautiful beach community populated with highly educated power couples, singles and retirees. Living in a beach community such as this can be costly, especially considering the city's proximity to the many other tourist cities of Florida. Although the median income is 35% higher than the national average, finding affordable housing in this city could be a challenge. Even with home values depreciating more than 50% in the last five years, finding affordable housing will entail a lot of researching online and consultations with many real estate professionals to find Boca Raton foreclosure listings.

The cost of living in Boca Raton is about 17% higher than the national average. However, its poverty level is almost half the national average. Furthermore, the current unemployment rate is right around 2.4%, which is also half of the national average of 4.6%.

There are currently around 2,400 foreclosure listings in Boca Raton area. Home values and prices per square foot are slowly on the rise. Given the population of this area, the percentage of bank foreclosures in Boca Raton is pretty low. Existing foreclosures range anywhere from just under a million dollars to prices starting at $1,000, most of which are bank-owned foreclosures. These include single-family homes as well as condos.

In addition to all the expensive high dollar homes, recently there have been many single-family homes that have sold for under $25,000. Investing in real estate for profit in this beautiful city is possible for those with disposable income. Bank foreclosures are better investments because vacant homes are equivalent to lost income for banks – empty homes do not bring in income, and as such, banks would be more willing to lower their selling price.

Boca Raton, with its beautiful beaches, gorgeous bungalows and beach condos, is a scenic and beautiful city. With the medium income for Boca Raton being 48% higher than the Florida average and 35% higher than the national average, educated or higher-income Americans should have little trouble affording housing in this area. The calm, peaceful allure of living so close to the ocean is sure to draw buyers to the area.

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