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Pre-Foreclosures Are On the Rise in Joplin, MO

The foreclosure market in Joplin, MO is actually relatively low in the state of Missouri, at about 5% of homes within the city. Pre-foreclosures, though, are on the rise because of the increasing job market losses in the region. People are leaving Joplin, Missouri and that is why home vacancies are on the rise, currently at about 10.3%. In all actuality, foreclosure listings are more prevalent around the local colleges. Auctions of these houses are not going as well as planned. Many home owners have had to lower their starting bids for auctioning their homes lower than ever before. It's still not cheap, though, to take advantage of a foreclosed home. Generally, it's upwards of $15,000 to $20,000 for a normal starting bid.