REO Properties – 2014 Sales numbers

In today’s REO Properties update, we look at the numbers for all Ascension Parish distressed sales in 2014. These are for ALL financing types, not just cash only sales:

2014 Ascension parish REO Sales

Compared to 2013:

The main numbers to look at are the Avg Selling Price to List price (SP/LP) ratio.  For all sales, foreclosed homes sold for 97% of the bank’s list price at the time of sale in 2014, up 1% from 2013.  The implication here is that Baton Rouge is a hot foreclosure market not just for investors but for all buyers.  Banks know this, so it is more time-consuming to find the deals.  We have seen more financed foreclosed sales from owner-occupants in 2014 than in 2013 too, which means investors have faced competition for the same property they enjoyed almost free reign on from 2011-2013.

Tomorrow we’ll look at how just the CASH sales for Ascension parish REOs changed from 2013 to 2014, a figure investors should use to determine what their bid prices should be for 2015.

David R. Madaffari, Realtor
Keller Williams Realty – First Choice
Office: 225.744.0044
Cell: 225.772.3283 (DAVE)
37325 Market Place Dr. Ste D
Prairieville, LA 70769
Each office independently owned and operated

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