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Knox County Ohio Real Estate Information Archive

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EyeJot Monthly Payment Test

Saturday, December 12, 2009
by Sam Miller

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What is a Short Sale?

Wednesday, December 9, 2009
by Sam Miller

Real estate foreclosures in Knox County, Ohio are on the rise.  Due to the increase in unemployment, I believe it is realistic that home foreclosures will continue to increase until the job market rebounds.  Home foreclosures can cause serious stress and these types of financial challenges are one of the biggest factors influencing the increased divorce rate among married couples today.

Did you know that a high percentage of the homes that are foreclosed on could have avoided foreclosure and the owner could have sold the home through a REALTOR?  This is where the term Short Sale comes into play.

The Short Sale Explained.  (Just click the play button) 

 

In today's current housing market, many people owe more on their home than their home is worth.  There are many reasons a homeowner may owe more on their home than it is currently worth and here are some examples:

  1. This may have happened because the value of the home simply dropped.
  2. They refinanced their original loan and rolled the closing costs into the new loan.
  3. They may have added a home equity loan and financed the closing costs into the loan.
  4. They did a cash out refinance to pay off other consumer debts, vehicles and credit cards.
  5. Many owners refinance to pay unexpected medical bills or funeral expenses. 
  6. Divorces, in many cases, create the need to refinance a home when one of the spouses wants to maintain ownership of the home and often at that point they are required to remove the ex spouse from legal ownership and financial obligation.
  7. There are dozens of reasons why someone might owe more on their home than it is worth and in many cases it could even be a combination of any of the items listed above.
If you are looking for honest answers AND solutions when you are wanting to sell your real estate I can help.  It doesn't matter whether your specific situation requires a short sale, a distressed sale, divorce, an estate or any other reason. I have the experience and the systems required to help you.  If you know someone who you think could benefit from the video and information feel free to use the "Share This" feature that is listed below.

Sam Miller
(740) 397-7800 or samsells@sammiller.com
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Knox County Ohio MLS Home Sales Report for November

Tuesday, December 1, 2009
by Sam Miller

The Knox County, Ohio Board of Realtors experienced a 5% increase in the number of homes that successfully sold in November compared to October 2009. What is even more impressive is when I compared the average sales price of November 2009 to October 2009, I quickly noticed that November averaged a higher sales price of 4.49% than the month prior. This does not mean that home values are on the rise, but it does mean that there were higher priced homes that sold in November than in October and that is a good sign.

The Knox County Board of Realtors reported 42 residential home sales throughout Knox County including Mount Vernon, Centerburg, Gambier, Howard, Apple Valley, Fredericktown and the smaller villages. The average sales price for the Knox County, Ohio homes that sold in November was $111,068. The lowest priced home that sold was a bank repossession which sold for $33,000.  The highest priced home closed at $232,000.

November 2009 Compared to November 2008

I do extensive monthly market research and have completed monthly market studies for more than 15 years. When I pulled last years November 2008 home sales statistics, I compared them with the November 2009 statistics and the comparison made me smile. This November we had 42 homes sales and last year in the same time period we only had 29 home sales. That is a huge difference and that amount of increase in any market is considered BIG.  Here are the results for November 2009:

Number of Homes Sold Price Range
13 $74,900 and under
7 $75,000 - $99,000
8 $100,000 - $124,999
3 $125,000 - $149,999
5 $150,000 - $174,999
3 $175,000 - $199,999
3 $200,000 and higher

Take the hassle out of hunting for a home.....have listings sent directly to your inbox as soon as they hit the market.  Click here to sign up today!

Click Here for our featured properties!!!  Some of the best property for sale is displayed right here. As experts in the Knox County real estate market, we can provide you detailed information on these homes, or any others!

*Disclaimer: The Knox County Board of Realtors MLS statistics as of December 1st, 2009

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