just ask cathy...
Helping to educate buyers & sellers to make sound real estate decisions.
_______________________________________________________________

FORECLOSURES IN NORTHERN, KY UNDER $50,000:  Foreclosures in this market are such a hot topic, with so many buyers looking to get in on a great deal for as little money as possible.  But if you've spent any amount of time going through local foreclosures, you will soon find that you need to be prepared for the many "challenges" that  these type of properties bring.  I often get a lot of buyers calling me about searching for foreclosures in the price range at $0-$30,000.  Now that is a challenging market!  As buyers, you will need to understand that there can be foundation issues, heavy mold issues, lead based paint issues and possible "swimming pool" issues in basements that have standing water!  If that is not enough of a challenge, you will also need to consider 203K loans and make sure that you are pre-approved in both mind and pocket book. 

However, if you catch a foreclosure just right, you might be able to pay such a low price for it that even if you tore down the home, you would still have paid less than what the property is actually worth, which is just what happened to one of my buyers the other day!  But buyers beware, because I watch so many of you grasping for the most inexpensive properties and not realizing that the necessary rehab might cost you a cool $30,000 - $40,000  on some of these more challenging homes.  But if you already knew all that, then let's proceed to some actual statistics on our local market with some quick links to the active properties. 

Here's a snapshot of today's foreclosures in Northern Kentucky up to $50,000.  By the way, I always choose $50,000 and under, even if you ask me for foreclosures under $30,000 (which a lot of you do), simply because properties are deteriorating so fast, especially with all the rain and winter coming.  The higher price point quickly changes - sometimes drastically - as deterioration sets in and provides an additional inventory for savy buyers to montitor.   

 

TODAY'S  Single Family
FORECLOSURE   SNAPSHOT

 

 
County   0-$50,000
Boone   3
Kenton   34
Campbell   13

 

A bit of surprise, right?  Well, at least you know where to find most of the foreclosures  under $50,000 today.  If you want to take a peek at ALL the foreclosures, regardless of price, you might be surprised at what you find!   Check out  Boone County,  Kenton County and  Campbell County  foreclosures to see what I mean. 

Happy foreclosure hunting! 
___________________________________________________________________
NORTHERN KENTUCKY Real Estate Sales - Cathy Miles Realtor®
CINCINNATI, OHIO Real Estate Sales - Cathy Miles Realtor®  
I specialize in helping buyers and sellers with their real estate needs in Northern KY (Florence, Erlanger, Union, Richwood, Burlington, Hebron, Taylor Mill and surrounding areas) and in Cincinnati, OH (Hyde Park, Oakley, Clifton, Mt. Adams and surrounding areas). With passion, I invite you to board my boat for your next destination and allow me the opportunity to help you navigate the ever changing currents of this incredible market! 

  just ask cathy...
Helping to educate buyers & sellers to make sound real estate decisions.
_________________________________________________________________________________________________________________________________
EXIT  / 513.673.7726 www.mileshometeam.com  /  I-Fax: 888. 398. 3974  /  cathy@mileshometeam.com