ThomasRiddleGroup

ThomasRiddleGroup

Is there a Foreclosure Problem in New Albany, Ohio?

An article in the August 13th issue of the Columbus Dispatch referred to a growing foreclosure problem in the suburbs of Columbus.  I began to wonder if this applied to New Albany as well.  I searched the  Multiple Listing Service to see how many of the homes that have sold in NA so far this year were either Foreclosed properties or Short Sale properties.

22 Foreclosed or Short Sale Homes Sold in New Albany Year to Date

Year to date (through 8/26/09), 144 homes have sold in the New Albany School District.  22 of the homes sold were either Foreclosed properties or Bank Short Sales or 13% of the homes sold.  This is not an insignificant number but it does mean that 85% of the homes sold in New Albany this year were traditional resale or new build homes.  A breakdown by price range shows that only 5% of the homes sold above $400.0 were foreclosed or short sale properties while 22% of the homes sold under $400.0 were foreclosures or short sales.  A breakdown by price range is shown below.

New Albany YTD Sold vs Foreclosed & Bank Short Sales
Price Range

Total Sold

# FrCl/ShSl

% to Total

Under $200.0

23

7

30%

$200.0 – $400.0

62

12

19%

$400.0 – $600.0

31

1

3%

$600.0 – $800.0

14

1

7%

$800.0 – $1000.0

7

1

14%

Over $1 Million

7

0

0%

Total

144

22

13%

Questions? Ask a  New Albany Ohio Realtor

Tony has earned the Certified Distressed Property Expert (CDPE) designation and can answer your questions about both foreclosures and short sales. Visit our website newalbanyohio.com for information on Foreclosure and Short Sale Assistance.

Until next time,
Kate

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on email
Recent Posts

5 Ways to Make Your Home Feel Like Fall

Although the temps still feel like summer, fall is around the corner. We love bringing seasonal elements into our space to reflect the environment around

Get in Touch

Why Choose Thomas Riddle Real Estate Group?

Selling a house on your own can be an overwhelming task. There’s advertising to plan and budget for, open houses and private showings to arrange, purchase offers to negotiate, contract contingencies to worry about, and complicated paperwork to fill out. Make it easy on yourself by putting your home in the hands of seasoned professionals. We have extensive experience marketing properties and showing them to their best advantage.

Compare listings

Compare

Get Your Home's Accurate Value

Receive a No-Obligation Market Evaluation from our Listing Experts Rob Riddle, Tony Thomas, & Kate Thomas

Note: Please be assured we will use this information only to send you the information you have requested and we will never share or rent your contact information with any other party. By giving us your name and email address, you are giving Thomas|Riddle Real Estate Group permission to contact you.