Warren County Ohio Foreclosure Update: Sheriff's Sales through 02/02/2015
It's official, Winter has arrived and with it has come a significant cooling of the Warren County Ohio real estate market. Nothing really scary about that, just a typical chilling of the real estate market as focus for many people shifts to family time and less to buying or selling a home in the chilly weather. Now the difference between "regular" home sellers and short sales and foreclosures is they don't take a break. The attempts to sell continue no matter what the thermometer indicates.
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 THREE additional weeks of sales and one week of no planned sales. The BLACK DIAGONAL line one the chart is the trend line and clearly shows that Warren County foreclosures continue to decrease. We like seeing the large number of weeks where no one has their home foreclosed.
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:
Overall, it what we expect for this time of year. MANY home owners and buyers have decided to take a break. The net of that? Fewer homes on the market, fewer homes under contract, fewer home sales completed. It's the expected condition. The net of that means a lot of red in the first table above. The nuggets of positive information? That the percentage of distressed homes as a part of the market and as a percentage of completed sales still remains in the single digits.
What does this mean to you as a Warren County home buyer?
No change from last month. There's not much to pick from! 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 12/21/14. 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 12/21/14. 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