Warren County Ohio Foreclosure Update: Sheriff's Sales through 11/03/2014
Fall has arrived and the festivals are in full swing, Country Applefest this weekend in Lebanon and Sauerkraut in Waynesville next weekend! But on to what you're REALLY here for, what's the scoop on the Warren County Ohio foreclosure market? 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 ONE additional week and an update to the October 20th data (from 10 to 27). Even with the incrase, the black diagonal trend line makes it apparent Warren County foreclosures are on the decline.
As you can see, ZERO is becoming a VERY popular number for weekly foreclosures!
These numbers include not just "regular" home owners, but developers, investment owners and tax liens. And not every home scheduled for foreclosure actually gets foreclosed, 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 news continues to get better for the overall market with short sales and foreclosures continuing to decline. Middle single digits as a proportion of the market is good for everyone except those it's happening to and the bargain shoppers hoping for a foreclosed home at a steep discount. The fewer foreclosures and short sales the more stable the overall market and home values.
Now if we compare month to month, you can see we're reaching our typical end of summer slowdown: Fewer homes offered for sale, fewer homes under contract, fewer sold. That is typical for this time of year as we've reached peak volume for most of the communities in Warren County. Distressed properties at 5% of overall homes for sale that are not under contract and under 8% of all homes SOLD is a pretty good place to be.
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.
What does this mean to you as a Warren County home buyer?
And a broken record here too: your selection of foreclosures and short sales is small. 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 9/24/14. 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 9/24/14. 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
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