Ohio is currently listed as #5 in the foreclosure rankings with 1 in every 376 households in some stage of foreclosure. If you follow RealtyTrac, that is a 138% increase over August of 2006. WOW !!!!
Our research shows us that there are currently 4,079 properties available in Franklin County, Ohio that are in distressed situations such as being part of a bankruptcy filing or foreclosure action. Generally speaking, distressed sellers are willing to consider selling at lower prices to qualified and serious buyers. There are many intricacies involved in buying distressed deals. It is important to know the ins and outs of what the bank, trustee and court expect in order to get these deals pushed through.
Gryphon specializes in these types of transactions.
Call us for information on distressed deals in areas you want to live.
Rich Kruse - rfk@gryphonusa.com 614-774-4118
Do you have questions about distressed assets, receivership or bankruptcy sales, auctions? Email me at rfk@gryphonusa.com and I'll try to answer it in an upcoming post.
Richard F. Kruse is the President of Columbus, Ohio based Gryphon USA, Ltd. (www.gryphonusa.com). The Gryphon Organization includes Gryphon Asset Management providing receivership and consulting services in the distressed marketplace, United Country Gryphon Realty & Auction Group (www.ucohiorealty.com & www.ucohioauctions.com) providing real estate brokerage and auction services throughout Ohio and OnlineAuctionUSA.com (www.onlineauctionusa.com) providing commercial asset liquidations from the Midwest to East Coast.
United Country Gryphon Realty & Auction Career Opportunities Available. Call 614-885-0020 x 17
Lisa - It is a combination of the local business paper, Realtytrac, foreclosure.com and CNN.
Thesa - Lots of product not a lot of loans.
We've held that distinction long enough. We'd love to pass it on.
Just one obsirvation. If at Nevada is the worst and we've got less than one half of one percent of houses in foreclosure and Ohio is fifth with less than one quater of one percent, why the panic?
Individually most people have only one hose so if it's being foreclosed upon it's 100% to them. Could it be that reporters are dead beats? Unless your involved the numbers just don't support the panic.
Bill
Bill - Looking at the overall numbers, one would think that its not so bad. Prices are down only x%. Not that big of a deal in the big picture. Now we get into the Micro part of economics and break down different neighborhoods. BIG difference. 30% of the neighborhood in foreclosure, 20% vacant, prices down dramatically, DOM outrageous.
Is it a scare? Not for me. I made sure when I bought that I had equity and have continued to make my payments and buy down my debt. Statistically, 2 families in my neighborhood have a problem. We are in a pretty good area and are seeing new construction going well, people are buying property and, statistically there are no problems.
If it is so good and statistically there are only 2 neighbors with problems, how come I can name all 6 of them?
It makes me wonder about statistics.
realty trac is a joke, dont trust their numbers, they are not a data co, they are a marketing co
if they spent as much time with data as they did PR, they would still be geting my money
I am setting up a robotic variable data base for C Ohio
will share some when this goes live
i have found 4500ISH properties in the Distressed, REO, FK, BK pipeline
3000 more on the way
god bless america!!!!!!!!!!!!!!!!!!!!!