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In one sale, a VA office in Orlando, Fla., sold a home in west Ames to a private buyer. The property, on the 1100 block of Oklahoma Drive, went for $147,000.
A second transaction involved a sale to the VA by GMAC Mortgage Corporation, involving a home on Maxwell Avenue that sold for just over $52,000.
A spokeswoman for Omaha-based Superior Title, which was involved in the Oklahoma Drive sale, said the VA purchases generally involve property foreclosures.
VA has a purchasing program to re-sell the properties and has agents to handle the "assets," she said.
A survey of foreclosures by RealtyTrac, an online real estate database founded in 1996, notes that Iowa reported 276 new foreclosure filings in June.
Buying foreclosed homes seems to be a good deal in Iowa. Out of 27 foreclosure sales across the state during June, the average price was $69,840, an average savings of 54 percent compared to the estimated market price, the service added.
By comparison, data from states contiguous to Iowa include:
* Illinois: 3,728 filings, 713 sales, average price, $129,259, savings of 32 percent.
* Minnesota: 712 filings, 54 sales, average price, $214,200, savings of 24 percent.
* Wisconsin: 3,444 filings, 146 sales, average price, $127,948, savings of 28 percent.
* Missouri: 2,984 filings, 170 sales, average price, $95,235, savings of 30 percent.
* Nebraska: 727 filings, nine sales, average price, 147,588, savings of 20 percent.
Bob Zientara can be reached at 232-2161, Ext. 487, or rzientara@amestrib.com.
Mid-Iowa home foreclosures
County Properties
Boone 56
Hamilton 29
Hardin 18
Story 118
Source: RealtyTrac.com
