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Follow on Google News | Foreclosed Homes Listings Pile in to Henry County GA at 39% Lower PriceForeclosed homes have been nearly fully loaded into the Henry County housing market. Foreclosure listings prices are posted far below market median prices, according to latest foreclosure trends study from RealtyStore.
By: RealtyStore Inc "Foreclosed homes have been nearly fully loaded into the Henry County housing market," noted Peter Ranck, Vice President for RealtyStore. "Most other counties researched to date show a much smaller amount of their foreclosure population up for sale. For instance, Oklahoma County, Oklahoma and Marion County, Florida recently revealed only 26% and 42% of foreclosures actively listed for re-sale, respectively. Those levels are a far cry from Henry County's 99% REO listings rate. It appears banks and government entities owning foreclosures in Henry County are highly motivated to sell their local foreclosed properties." Exploring what it takes to purchase foreclosures in the county found a significantly lower median price on foreclosure listings. The median price of all homes for sale in the Henry County market is currently $132,000. Foreclosure listings in Henry County show a median price of $80,000 or 39% lower. This 'foreclosure discount' is well above the national average of 27% and may be due in part to the extraordinarily high percentage of foreclosure listings currently active in the area. A pricing analysis was also conducted by foreclosure seller. The lowest local foreclosure prices are listed on REO bank foreclosures, which range from $9,900 to $363,000 with a median price of $79,900 in Henry County. HUD homes posted the next lowest median at $80,000 and have HUD foreclosure listings ranging from $15,000 to $150,000 in the county. Fannie Mae or Freddie Mac listed foreclosures range from $24,900 to $354,900 and show a median price of $94,410. VA foreclosures are listed from $104,900 to $109,900 with a median price of $105,500 in Henry County. To see individual foreclosure listings in Henry County, Georgia, search Georgia foreclosures at http://www.realtystore.com/ Bank foreclosures listings in Georgia are available from http://www.realtystore.com/ Foreclosure trends reports for other markets can be viewed at http://www.realtystore.com/ Glossary of foreclosure listings terms: REO = Real Estate Owned. These are homes or land foreclosed upon and having title fully assumed by a lending institution, bank or a government sponsored enterprise such as HUD homes, Fannie Mae or Freddie Mac. Foreclosure listing = An REO property with a posted for-sale price. Median price = The mid point of all prices of homes listed for sale in the market. The point where half of homes for sale are priced above and half are listed below the reported median price. About RealtyStore RealtyStore (www.realtystore.com) Reporting methodology The RealtyStore County Foreclosures Review provides the total number of REO (real estate owned) foreclosed properties with a recording date on or before the date of this release. REO properties have completed the foreclosure process and have been repossessed by a bank or government sponsored loan guarantor such as Fannie Mae, Freddie Mac, HUD or the VA. REO title holders and inventory counts in any area can vary at any time. Counts and prices are accessed through RealtyStore’ # # # RealtyStore.com is the leading provider of foreclosure listings and discount property data nationwide. We empower our customers with listings, education and analysis required to identify and potentially maximize profits with undervalued real estate. End
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