Warren County Ohio Foreclosure Update: Sheriff's Sales through 03/09/2015
This is NOT turning into the typical winter market in Warren County! It's busier than past years and December had more sales than November! It seems quite a few people have decided 2015 is the time to buy or sell a home. And obviously the Warren County foreclosure market has some influence on what buyers buy and how much any home seller may get for their home.
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 of sales and two weeks of no planned sales. The BLACK DIAGONAL line one the chart is the trend line and clearly shows that Warren County foreclosures continue to decrease over the last year plus.
Homes scheduled for foreclosure include a variety of sources: builders, "regular" home owners, tax liens, etc. And some homes scheduled for foreclosure WILL have the sheriff's auction canceled, 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:
It's a fairly typical month for this time of year. Fewer homes overall on the market. The quantity of homes scheduled for foreclosure over the five week period is 51. The actual number of foreclosed homes on the market dropped, so selection is scarce for buyers. And that's partly a function of more foreclosed homes being sold last month, and that also means for the first time in months the percentage of distressed homes sold went into double digits. Still, 12% isn't horrible and most likely a temporary increase.
What does this mean to you as a Warren County home buyer?
The biggest change from last month is there's even LESS to pick from now! 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 1/24/15. 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 1/24/15. 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
Direct #2: 513-265-3004
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