Pickaway Foreclosures
One generally good way to look at where national foreclosure trends are going is to look on the local level. In this instance we’ll look at Pickaway county Ohio.
Pickaway County is located directly south of Franklin County Ohio where the city of Columbus resides. It is home to more than 53,000 people , the county seat is Circleville.
As a agent here, I’ve done alot of business in regards to foreclosures, working with buyers, sellers , the banks who actually foreclose on homeowners, and even helped a few people do short sales on their properties prior to the bank actually foreclosing.
To be very honest with you, I’m quite worried about the state of foreclosures here, we’ve seen a continually increasing supply over the past 3 years or so, and after talking to those in county administration (The auditor, recorder and clerk of courts) it almost seems that the volume of properties held by banks may increase over the next 6 months. This of course is great news for buyers, but horrible news to sellers. There are less buyers today than there were a year ago due to increasing demands from lenders to document income as well as provide a larger down payment. This causes prices generally to go down, although I haven’t seen it yet (The total sales volume is down though so far in the month of July).