Ohio Foreclosure Home Investment is Looking Up
Photo by Kenteegardin
Ohio is believed to be one of the states that have been hit hardest by the recent economic crisis. Lawmakers are scrambling to promote policies that foster an environment that will lead to job creation and possibly lower unemployment.
Ohio foreclosures continue to be a low cost investment opportunity for those in the real estate market. According to the state’s economic archive, two sections of this state received the global Smart 21 Communities award in 2011.
Although the economy in Ohio is down, it is still one of the largest economies in the United States. Unemployment has increased slightly to a recorded 9% for the month of August. Wal-Mart, the largest private sector employer in Ohio, employs almost 56,000 people across the state.
No cities in the state have reported an increase in the number of foreclosures for the month of August. Buyers have found the prices of foreclosed homes in cities like Columbus to average in the $60,000 to $150,000 range, depending on the area.
The state average foreclosure price is about $90,000. Reports also show that 1 of every 608 housing properties in the state have received a foreclosure notice. Columbus foreclosures offer value for the real estate investor.
The number of foreclosures in the state of Ohio is dropping. New listings of Dayton foreclosures have dropped 16.3462% in the last month. Continuing this trend, listings in Youngstown have dropped approximately 7.4%.
Foreclosed home listings in Reynoldsburg have decreased about 6.7% and in Warren those listings have decreased over 16%. Hamilton, Ohio has a recorded decrease of new listings in the range of 11.1111%, making now the best time to invest in foreclosure homes in this state.
Recent news in Ohio foreclosures includes some of the best discounts prices across the nation. The Ohio Supreme Court has disciplined an attorney from Akron for mishandling a client’s appeal. The attorney was reported to have failed to file documents that were related to the client’s burglary charges. This failure led to a delay in the client’s court case.
Also in the news, a couple facing charges of illegally selling prescription pills has been prohibited by the courts from working at any facility that supplies medical care. The couple, Nancy and Lester Sadler, have been free on bond. The courts have moved to revoke the bond because the couple used the services of a public-funded defense attorney while they were earning thousands of dollars through their “pill-mill.”
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