Warren County Ohio Foreclosure Update Sheriff's Sales through 5/9/2016
Warren County Ohio foreclosures and short sales for sale continue to be a small part of the market. Total distressed properties for sale in Cincinnati MLS as of 3/23 total 38, the lowest number in quite some time. Factoring in condition and needed work and these homes may not be quite the bargain that their initial price points to.
Stick with us for more details on the Warren County distressed home market. 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 and two additional weeks of no sales scheduled (and an update to 4/11 as more were added after the last report). The ORANGE DIAGONAL line one the chart is the trend line is slightly upward, indicating a few more homes are being foreclosed over the later half of the tracking period.
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 percentage of distressed properties for sale as a part of the overall Warren County Ohio homes for sale dropped below 5%. While the percentage against SOLD homes went up slightly, keep in mind overall total sales for February were still rather low and the bargain hunters will always move decent condition homes quickly.
The overall market is making a typically Spring push upwards. Lots more homes under contract and a net increase in homes available for sale, although still fairly low numbers of homes not under contract.
What does this mean to you as a Warren County home seller?
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 38 for sale for the ENTIRE county, it continues to be a challenge to find a foreclosure or short sale home that matches a buyer's needs.
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 3/23/16. 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 3/23/16. Link is good for 30 days.
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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