Warren County Ohio Foreclosure Update: Sheriff's Sales through 01/05/2015
With the arrival of our first snow, has there been a freeze on Warren County Ohio foreclosures and short sales?
Stick with us and you'll know practically everything you might want to know about Warren County foreclosure and short sale activity over the last month! AND at the end links to search for Warren County foreclosed homes for sale and Warren County short sales for sale.
We'll start with the trend chart of Sheriff's Sales scheduled with this revision including THREE additional weeks. The BLACK DIAGONAL line one the chart is the trend line and clearly shows that Warren County foreclosures continue to decrease. We like seeing the large number of weeks where no one has their home foreclosed.
These numbers include not just "regular" home owners, but developers, investment owners and tax liens. And not every home scheduled for foreclosure actually gets foreclosed, either due to catching up on payments, a loan modification or the owner sells their home prior and uses the proceeds to get right with the bank (e.g. adequate equity or a short sale arrangement).
If you want details on exactly what homes are scheduled for foreclosure, click Warren County's Sheriff's Foreclosures to access the official list from the Warren County Sheriff's website and learn how to make an offer on a foreclosed home.
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.
Summary of Warren County Ohio Foreclosure and Short Sale Information:
Overall, we're liking what we see with the update. While the percentage of foreclosures may have went up a bit, overall distressed properties are still not a big part of the Warren County market. Take a close look at the first chart and you'll see quite a few weeks with NO foreclosures scheduled, and on the weeks that there are foreclosures, the volume is in the 14 to 16 range, down form what used to typically be in the 20's. More and more people are able to keep their homes and not go the foreclosure route.
What does this mean to you as a Warren County home buyer?
There's not much to pick from! If you find a prime deal, you better move fast because you'll have competition. However, fact is if your shopping is limited to ONLY distressed properties, you're probably going to be disappointed with the limited selection. And if you want a prime community (e.g. Mason, you may find out there are almost no homes to see if you factor in other needs like price and number of bedrooms).
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, so don't miss that window of opportunity!
CLICK: VIEW WARREN COUNTY OHIO SHORT SALE HOMES IN CINCINNATI MLS for short sale Warren County Ohio homes listed 11/23/14. Link is good for 30 days.
CLICK: VIEW WARREN COUNTY OHIO FORECLOSED HOMES FOR SALE IN CINCINNATI MLS for foreclosed Warren County Ohio homes listed 11/23/14. 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
OUR SERVICE AREA:
View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map