Foreclosures in Columbus good news for buyers brought to you by Maureen McCabe Real Living HER
*Zillow.com did a white paper on Foreclosures Nationally... I shared Foreclosures sell at 72% of market price nationally which was a Re-Blog of Sara Bonert a Zillow employee's post, which came from the white paper.
What's the point? The study was to see if there two separate markets? Are foreclosed homes one market and the other homes a separate market? Or is it all the same market?
In the table on Sara's and thus on my Re-Blog of it, it shows the figures for various markets including Columbus.
Foreclosures in Columbus good news for buyers interested in pursuing foreclosures
It's good news for buyers who are interested in foreclosures in Columbus.
While the national figure is 72% of market price the Columbus figure is 62%. Columbus home buyers who are able and willing to buy a foreclosed home get a better deal than foreclosure buyers do nationally. Only 19% of the home sales in our market are foreclosures according to Zilllows stats. The markets with less foreclosures the foreclosed homes sold lower than the markets where there are the most foreclosures.
Buyers buying foreclosures get a better deal in Columbus.
Note Zillow is talking median price... and we seldom do in Central Ohio. We are so affordable we usually talk average price.
* The white paper has nothing to do with Zillow Zestimates. Don't let the Zestimates reputation for inaccuracy confuse you. Thanks!
More about the Central Ohio real estate market
Breaking News - December Columbus Home Sales - December 2009
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