Troubled properties sold for deep discounts compared to those not in foreclosure, the real estate data firm said. RealtyTrac defined a foreclosure sale as a transaction in which a sales deed is recorded for a property actively in some stage of foreclosure or owned by the bank. Properties in foreclosure include those in default, scheduled for auction or taken back by a bank.
In Montgomery County, 598 residences in some stage of foreclosure were sold during the quarter compared with 756 homes a year ago, a 20.9 percent drop, RealtyTrac said. The average discount for these homes was 51.6 percent, with an average sale price of $59,200, the Irvine, Calif.-based firm said.
In the same quarter, 83 homes in foreclosure were sold in Miami County, versus 89 in second quarter 2009, a 6.7 percent fall.
In Warren County, 154 foreclosure homes were sold, down nearly 5 percent. Homes in foreclosure in this county on average sold for $141,495, a discount of 26.7 percent.
Greene County bucked the trend. Thirty-eight homes in foreclosure changed hands during the quarter, whereas a year ago when 27 homes sold, a 40.7 percent jump, according to the report.
Statewide, 8,240 homes in some stage of foreclosure were sold, compared with 10,860 homes a year ago, a 24 percent decline, RealtyTrac said. Nationally, sales of troubled properties dropped 20.2 percent.
Ohio homes in foreclosure sold for an average discount of 43 percent, the largest in the country, RealtyTrac said.
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