Warren County Ohio Foreclosure Update: Sheriff's Sales through 04/27/2015
Spring has returned and we have RAIN instead of SNOW in Warren County today! Has the warmer weather changed the Warren County distressed property market? Have short sales and foreclosures increased or decreased?
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 TWO additional weeks of 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, estates, 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:
The first glance at the numbers might make you think foreclosures and short sales are a bigger part of the market than they typically are. But consider February is a shorter month, and also typically a lower volume month for sales and it's easy to see why the stats might indicate foreclosures and short sales are good sized portion of overall sales. But the bottom line is "cheap" or perceived cheap homes like foreclosures ALWAYS have demand. And frankly some of them are absolute wrecks inside and deserve to be cheap! You really might be better off buying a "regular" home once all your expenses are accounted for! Regardless, the raw numbers of distressed properties for sale or sold didn't shift all that much over the last couple of months. And if you look at the first chart, you'll see the number of homes scheduled for foreclosure over the month of April are fairly low.
What does this mean to you as a Warren County home buyer?
You won't have a large selection if foreclosures and short sales are your preferred home target. With just under 70 for sale for the ENTIRE county, that selection gets small fast when you start adding must haves like location, garage spaces, price point, etc. And if you want a prime community (e.g. Mason or Springboro in particular), you may find out there are almost no distressed homes for sale.
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 3/26/15. 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 3/26/15. 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
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