Prices slashed on Long Island foreclosed homes

New York state beat all others when it came to average discount on the sale of bank-owned homes, according to a new report made public today.

The discount over the average sales price of non-foreclosures was shy of 52 percent during the first quarter of this year, said RealtyTrac in its first-ever quarterly report on sales of homes with loans in default.

Long Island had some high discounts also. Read more about that here.