$6,500 is the amount lenders spend, on average in dollars, on the properties that they improve after foreclosure and before sale. Not surprisingly, properties in high-priced areas get higher-priced renovations, with lenders spending the most in “higher-priced markets” like Denver, Los Angeles, Portland, Raleigh, and Washington D.C[1].

 


[1] http://realtormag.realtor.org/daily-news/2013/01/29/study-lenders-spend-more-reos-in-high-priced-areas