Warren County Ohio Foreclosure Update: Sheriff's Sales through 12/9/2013

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Real Estate Agent with RE/MAX Elite 513.520.5305 www.LizTour.com SAL.2002007747

Warren County Ohio Foreclosure Update: Sheriff's Sales through 12/9/2013

Interested in Warren County Ohio foreclosed and short sale homes for sale and their impact on the Warren County market?  Then we've got the information on Warren County foreclosures and short sales you're looking for.  How many are scheduled for foreclosure and when?  How many foreclosed homes are currently for sale?  How many short sales?  What percentage of Warren County homes for sale and those sold are composed of distressed properties?  Stay with us and you'll have the full scoop!  And at the end you can search for Warren County foreclosed homes for sale AND also the Warren County short sales for sale in Cincinnati MLS.

We'll start with the trend chart of Sheriff's Sales scheduled with THREE additional weeks included since the last report in July. 

Warren County Ohio Foreclosures

934 Kerns Drive Lebanon Ohio short sale home soldNOTE:  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, Black as neutral.   

Warren County Ohio Distressed Real estate sales

  Warren County Ohio Foreclosure information

Summary of Warren County Ohio Foreclosure and Short Sale Information:

That first chart make you feel like you were riding a roller coaster at Kings Island?  The last three weeks have the hallmark of that steep climb up the hill and the rapid drop doesn't it?  But we wouldn't read too much into the wicked spike up in foreclosures, and for the same reason we mentioned last month.  If you look closely at the chart you'll notice no sales were held in August due to staffing shortages at the Warren County Sheriff's office.  So while the foreclosure orders continued to be received, they weren't able to be scheduled and completed.  We're now in a bit of a "catch up" mode with the two weeks of 38 and 50 clearing some of the backlog that built up.

Overall, the real story to us is in the actual sales of Warren County distressed properties.  The net number of short sales and foreclosures actively for sale and not under contract declined from August to September, and we consider that a good sign for the market overall.  Additionally, the raw number of distressed properties sold in August was flat at 47 total.  Now while the percentage of overall sales is now higher than the previous month, that's more a reflection of Warren County entering what is typically the slower time of the real estate market (note the drop of 18 homes for August sales compared to July).  There will still be plenty of sales in the upcoming months, but at a reduced rate relative to the peak spring/summer months.

 
What does this mean to you as a Warren County home seller?
Basically that Warren County distressed home sales are NOT significant enough to have impact on you in MOST cases.  However, there are a few communities that have been hit excessively hard and that has taken down the entire communities home values.  Most subdivisions however do not have that same impact and you as a home seller can price your home at "regular" market value without concern.  Our experience is that certain buyers are ONLY interested in distressed properties, so they're most likely not your next buyer anyway.  Overall, we like the current stability of the Warren County real estate market and the relatively low portion of the market that is distressed properties.  Just call us to set an appointment if you'd like to know about the marketability and value of your home!

What does this mean to you as a Warren County home buyer?
As a buyer interested in Warren County foreclosures and short sales, you have a very limited number of choices available.  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.

CLICK:  VIEW WARREN COUNTY OHIO SHORT SALE HOMES IN CINCINNATI MLS for short sale Warren County Ohio homes listed 9/21/13.  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 9/21/13.  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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Serving Warren County Ohio & Adjacent Areas

 

The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

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Rainmaker
2,316,898
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

BLiz: This is important information for Warren County Ohio consumers to see as it clearly outlines what impact that distressed homes have on this area.  Good report.

Sep 21, 2013 12:06 AM #1
Rainer
405,683
Brad MacKenzie
Brad MacKenzie - Duxbury, MA
Turning Houses into Homes on the South Shore

This is a great report. Still, it's good that you know your market and can interpret this data for your clients; it seems like there's still a lot of shadow market activity to me, on first glance.

Sep 21, 2013 12:22 AM #2
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2,798,876
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Bliz - Great rundown on the Warren County foreclosure market - very easy to see the big picture with your excellent explanations, and nice to see the good news trend continuing.

Sep 21, 2013 12:32 AM #3
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Anita, Thanks!  We try to give them the big picture.

Brad, That's one of the things we keep hearing about.  The number foreclosed exceeds the number on the market + sales, yet we don't see large quantities of empty homes not for sale.  We see some, but suspect some of the foreclosures may be sold direct to investors by the banks rather than coming back to normal market.

Dick, We try to simplify what all the data means.  Bottom line for our market, it's not a huge segment, but it's there.

Sep 21, 2013 12:38 AM #4
Rainmaker
1,675,419
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Liz and Bil, Very nice post and easy to understand.  Have a great weekend.

Sep 21, 2013 10:40 AM #5
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Larry, Thanks!  It takes a bit to set up the "why" of the post, but after that we try to provide what the data driven people will want to know in a clear fashion.

Sep 21, 2013 08:49 PM #6
Rainmaker
1,800,589
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

BLiz, you do have a good handle on the Warren county foreclosures for all home buyers!

Sep 21, 2013 09:15 PM #7
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Ginny, We know it's an important segment to monitor.  With its potential to effect all homeowners, we want to make sure the impact stays low.

Sep 21, 2013 11:52 PM #8
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