Lewis County REO Sales

Did you know?

 Lewis County MLS Inventory

Overall: 954 Active Listings, 37 Pending Sale Listings

and 42 sales over the last 30 days.

  • 60 Active properties are REO  (bank owned /foreclosure properties)          
  • 21 pending sales are REO                    
  • 9 of the previous 30 day sales were REO properties

REO Properties currently make up 6% of Lewis County MLS inventory and 21%  of our previous 30 day sales. 

During 2010, approximately 6% of Lewis County’s MLS Inventory has been REO properties, and as high as 40% of all sales have been MLS properties.   Currently at 21%  of sales, we are seeing an increase in the % of seller owned housing sells. 

REO properties are great for the buyer, but can be difficult on sellers trying to compete with pricing.  The bright side is that REO buyers are often investors, and not the same buyer profile that most seller owned properties are looking for to purchase their home. 

Over the last 30 days

Average $/SQFT Non-REO home sold for in $114 per sqft

Average $/SQFT REO homes sold $65 per sqft 

            (This makes a $73,500 price difference on a 1500 SQFT home)

Updated August 27, 2010

Image: Salvatore Vuono / FreeDigitalPhotos.net

Summer 2010 brings low interest rates and great deals on homes!

house$Although we all looked forward to a speedy recovery of the local real estate market, it has not played out that way.  They market continues to gain ground, but not at the speed we would like to have seen.  I remain optimistic that it is heading in the right direction.  Along with some great deals on home prices, interest rates are at a record low.  There couldn’t be a better time for buyers to take advantage of that combination.  Interest rates will not stay this low long, so now is the time to buy!!

Image: jscreationzs / FreeDigitalPhotos.net