The capital city of New York State, Albany, is located 219 km near the northern region of New York City and close to the junction of Hudson and Mohawk Rivers. The city of Albany has a population of about 96,000 and is ranked forth in urban parts of the state of New York. The city forms Capital district along with cities that are nearby including Saratoga Springs, Schenectady and Troy. Being the capital of New York State, Albany has heavy demand in their real estate market from investors and people looking for residential homes. This demand for Albany foreclosures is due to its budding economy along with wonderful weather and scenery. The nightlife, brilliant architectures, glorious history, business & job opportunities and excellent facility for education have only added to the command of the Albany foreclosures in its real estate market.

The average prices of general properties listed in Albany real estate market is $172,900 whereas Albany foreclosures stand at $73,300. This difference in the average price of Albany foreclosures and general properties proves why investors have demand for Albany foreclosures in the market. The rates of homes, which were listed in the real estate market, have seen an increase of almost 3 % from the figures of the month of July, 2007. According to real estate market of Albany, 58 Albany foreclosures are available to the public in the range of $34-613 - $511,500.

Experts have predicted that in the next few quarters, Albany foreclosures are going to have a rise in their rates. So if you are interested in Albany foreclosures and are looking forward to have maximum profit, do not waste your time and buy them as early as possible.