Warren County Ohio Foreclosure Update: Sheriff's Sales through 6/2/2014
The weather has warmed, we're seeing the early signs of the usual spring spike in real estate activity too! The only thing that seems to be cooling down is the Warren County distressed property market, but that's a segment we PREFER to see having less and less impact on the overall area real estate market. So want the specifics? 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 a link 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. Note Memorial Day week no sales scheduled.
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.
Summary of Warren County Ohio Foreclosure and Short Sale Information:
Well what do you know, NO RED INK this month!! The key stat in our opinion is that the percentage of distressed properties being offered for sale and sold BOTH dropped from the previous month. Obviously buyers/investors are still looking for deals since the percentage of distressed properties sold was almost triple the percentage of distressed properties being offered for sale, but that's what we've learned to expect! Those bargains often need lots of work though, as being empty for an extended period of time is REALLY bad for a home. Getting them sold and someone in them ASAP is a good thing for the home and the neighborhoods.
The top chart might show a bit of an increase in numbers, but factor in the absence of sales on 4/21 and 5/26 and there's some making up to be done, thus a bit of an increase. We'll see if that trend continues on next month's report or if it's just temporary.
More homeowners are avoiding foreclosure and that's REALLY good for the overall housing market, even if it might disappoint some home buyers seeking bargains.
And when you look at Table 1, it's obvious the overall market is up. More homes for sale, more homes under contract, more homes SOLD! And we expect those numbers to climb over the next few months.
What does this mean to you as a Warren County home buyer?
No reason to change from last month: your selection is smaller and likely to get smaller still. 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 4/23/14. 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 4/23/14. 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
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