Warren County Ohio Foreclosure Update: Sheriff's Sales through 6/17/2013
It's time for our monthly Warren County Ohio Foreclosure & Short Sale market update! Has the Warren County Ohio distressed market stayed at a lower level as it did last month, or increase? Stay with us for the latest Warren foreclosed & short sales for sale information and the total impact of distressed properties on the Warren County residential real estate market! We'll also provide the ability to search for Warren County foreclosed homes for sale AND also the Warren County short sales in MLS.
We'll start with the trend chart of Sheriff's Sales scheduled with TWO additional weeks included since the last report in April:
NOTE: The chart details the number of scheduled sheriff's sales PLANNED by week for Warren County Ohio and represents a wide range of locations and price ranges throughout the county. The numbers include builders and property rental owners being foreclosed, not just private individuals occupying the homes. The data source is the Warren County Sheriff's website. The chart is primarily intended to provide you a trend on Warren County foreclosures.
Click Warren County's Sheriff's Foreclosures for additional details to access the official list from the Warren County Sheriff's website.
Below is a summary of the recent foreclosure trends. Note in the Net row for the first table, Red font is a trend we see as negative, Green as positive, Black as neutral.
What does all this data mean? That if you're primary shopping market is distressed properties, the selection is thinning out! If what you want is an overall more stable market and homeowners staying in their homes then you've got to love the statistics in this report! The two weeks of added foreclosure information still shows a lower level of homes scheduled for foreclosure, with 25 or less during the two new weeks of 6/10 & 6/17. From the bottom charts, the Warren County Ohio market is demonstrating a continued recovery. Overall, fewer distressed properties for sale (108 total, a continued decline from last month's 124). Also positive is the percentage of distressed properties for sale is under 10% of the total homes for sale.
Now distressed properties are still a greater percentage of homes SOLD, but even there we dropped under the 1 of 5 ratio. Mostly the distressed properties are "bargain bin" homes, most priced below $200k with a sprinkling of more upscale homes. In general, you should expect distressed properties to need some maintenance work, in some case VERY extensive work.
With the exception of a few areas that have seen an especially large impact of foreclosures, distressed properties aren't setting the market for homeowners trying to get a "regular" market value for their homes.
As a buyer interested in Warren County foreclosures and short sales, you still have a limited number of choices available. Be aware that you're competing with other buyers AND investors for these homes. And investors are often CASH buyers, so your financing contingent offer may be less competitive to the sellers. However, some foreclosed properties have an initial period reserved for owner/occupants before being opened up to investors.
The number disparity between foreclosed and actual new distressed properties offered for sale continues to support that there's a shadow inventory being held by the banks and not released for sale, or being sold directly to investors without being made available to the general public.
CLICK: VIEW WARREN COUNTY OHIO SHORT SALE HOMES IN CINCINNATI MLS for short sale Warren County Ohio homes listed 5/17/13. Link is good for 30 days.
CLICK: VIEW WARREN COUNTY OHIO FORECLOSURED HOMES FOR SALE IN CINCINNATI MLS for foreclosed Warren County Ohio homes listed 5/17/13. Link is good for 30 days.
Real estate is LOCAL, please disregard the National news and to a certain extent even the Cincinnati and Dayton reports as they are driven by urban real estate and NOT suburban and rural properties.
DISCLAIMER: There may be additional homes offered for sale in ONLY the Dayton MLS that might include additional foreclosed homes and short sale candidates. When working with buyers for Warren County, we use BOTH Cincinnati and Dayton MLS to ensure our buyers have visibility to ALL MLS listed homes.
If you have questions regarding these sales, or other real estate related questions, please don't hesitate to contact us!
Serving Your Warren County Residential Real Estate Needs,
Bill & Liz aka BLiz
REALTORS(S) Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth & William Spear
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Liz direct: 513-265-3004
Bill direct: 513-520-5305
Our Website: www.LizTour.com
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