Warren County Ohio Foreclosure Update: Scheduled Sheriff's Sales through 8/1/2011
The latest numbers continue to demonstrate a stable foreclosure market for Warren County, with the last few weeks banded in the 20-25 per auction . Two additional weeks of homes scheduled for foreclosure since the last update, with no week above 24. Although obviously regretful for those impacted, it is still a positive sign that that numbers overall are trending flat.
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.
Click HERE for additional details to access the official list from the Warren County Sheriff's website.
On June 1st, Cincinnati MLS currently lists 1709 homes for sale and not under contract in Warren County. Of those 1709, ONLY 68 (down from 87) are government/bank owned (3.97%). There are also a limited number of short sale opportunities, only 23 are MARKED Seller's Lender Approval required, although there are additional homes listed as short sale candidates in the marketing remarks. The distressed home categories range in price from $17,000 all the way to $2.2 MILLION dollars! Overall, well less than 6% of Warren County's homes for sale are clearly classified as distressed property.
In regards to sales for May, 46 bank owned and 2 short sale homes closed out of 192 homes recorded as closed. Due to delays in reporting month end closings, the 192 number will probably increase. Of the 192, that would mean 25% of sales were distressed properties. Considering that many of those homes were the "bargain basement" variety appealing to investors and typically priced well below $100k, there is not much direct impact or competition if you are marketing a home priced over $200k.
For Warren County buyers, there are obviously a limited number of opportunities. For Warren County home sellers, the distressed home volume is NOT significant enough to prevent buyers from coming to your home if properly priced and marketed. 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