For those who are planning to buy tax lien homes and other low-priced distressed dwellings in Cincinnati, January was a good month as more options were made available in the city. Foreclosure-related filings in the area increased last month after two consecutive months of decline.
Foreclosed property numbers in the state, including Columbus foreclosures, are not as high as in other regions of the country, but the state did have its share of housing market problems. In Cincinnati, the foreclosure problem showed some signs of abating during the last two months of 2010, but January figures showed that numbers are up again in the metro region. Last month, a total of 1,476 foreclosure-related filings were recorded in the metro area of Cincinnati-Middletown.
The total represents a 3.9% increase from the previous month's total of 1,421. The good news is, like foreclosed homes for sale in Ohio, year-over-year figure showed a considerable decline. When compared with January 2010, the total number of filings last month represented a drop of over 20%. Filings for January 2010 totaled 1,853. Among the counties, Hamilton posted the highest number of filings for the month.
Hamilton County is likely to offer more options to people planning to buy tax lien homes and foreclosed dwellings this coming few months as filings in the area reached a total of 562. However, the total is actually down by 11.4% from the previous month and also represents a decline of 37% when compared with January 2010.
Homes foreclosure filings in Butler County, on the other hand, totaled 261, representing an increase of 25% compared with December of last year and a rise of 7% compared with January 2010. Clermont County had 200 filings last month, up by 15.6% from the previous month's total and representing a 7% increase when compared with January of last year.
There are fewer offerings for investors who buy tax lien homes in Warren County as the area recorded a 20.7% drop in foreclosure filings last month compared with December 2010. The total for the county in January 2011 was 176, down by 10.6% compared with January 2010.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.
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