Warren County Ohio Foreclosure Update: Sheriff's Sales through 2/4/2013
We're back with another update of Warren County Ohio foreclosures and short sales! How are they impacting the overall Warren County resididential real estate market? What are the trends in Warren County and how are distressed properties playing a role? Stay tuned for the October update!
We'll start with the trend chart of Sheriff's Sales scheduled with FOUR additional weeks included since the last report in October:
First of all, the chart is a bit imbalanced and biased to the high side. Why? Note that no foreclosures are being processed on 12/24 & 31, and 1/19. Those three weeks worth of foreclosures get shuffled around to other weeks, so we get a short term inflation of the quantity to be foreclosed. 
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.
So what does this mean? Not a lot has changed month to month, with slight shifts. There are fewer homes on the market overall, so also fewer under contract. This is typical for this time of year in Warren County. The usual holiday break taken by home sellers, and often home buyers ease up a bit too. For the most part, distressed properties aren't a huge percentage of the overall homes for sale (about 1 in 8), but they do seem to take front of the line privileges for getting sold with about 1 in 4 homes sold falling into the distressed home category. Obviously buyers are VERY interested in foreclosed properties. Short sales? Well that's an entirely different game as the potential for VERY long waits on a bank response deter many buyers from engaging in a short sale negotiation. So as a buyer interested in Warren County foreclosures and short sales, you have a limited number of choices available. Be aware that you're competing with other buyers AND investors for these homes. And you might want to have the phone number of a good contractor or handyman on your speed dial, because distressed properties often come with condition issues.
For most sellers, distressed properties aren't dictating your actions. Priced right and marketed right, you can still sell. However there ARE some developments where this doesn't hold true and distressed properties are governing the sales process.
The number disparity between foreclosed and actual new distressed properties offered for sale continues to support that there's a growing shadow inventory being held by the banks and not released for sale.
CLICK: VIEW WARREN COUNTY OHIO SHORT SALE HOMES IN CINCINNATI MLS for short sale Warren County Ohio homes listed 11/16/12. Link is good for 30 days.
CLICK: VIEW WARREN COUNTY OHIO FORECLOSURED HOMES FOR SALE IN CINCINNATI MLS for foreclosed Warren County Ohio homes listed 11/16/12. 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
Comments(9)