RSS
Twitter
Facebook
YouTube
Community Research Partners’ third Data Byte is out! This Data Byte looks at sheriff’s sales in Franklin County and its school districts. A sheriff’s sale is the process by which the county sheriff appraises a property’s value and sells it at a foreclosure sale or auction.
In 2008, sheriff’s sales represented one in three (32%) sales of 1-3 unit residential properties in the county and one in five (20%) condominium sales, up from 12% and 3% respectively in 2003. Rates vary across school districts, from 6% in Upper Arlington to over half (55%) in Whitehall.
Click here (PDF) to read this Data Byte and learn more about the growing issue of sheriff’s sales.
Seems like a radical statistic. I’m surprised not to see more discussion going on here.
I wonder what prices those houses are going for in the sheriff’s sales. Anyone have a resource to look this up?
While the jump from 12% to 32% is quite drastic, I think the national credit and housing crisis have painted a similar picture all across the country, so I doubt anyone is too surprised by these figures. I’d be interested to see how we compare to other cities and the national average. I’m guessing a lot of boom cities out west are fairing much worse than Franklin County.
Ok… wait… I take that back… maybe. Is there some sort of discrepancy between the numbers here, because according to this:
With 9.46 percent of its housing units (one in 11) receiving a foreclosure filing during the year, Stockton, Calif., registered the highest foreclosure rate among the nation’s 100 largest metropolitan areas in 2008. Other California cities in the top 10 were Riverside-San Bernardino at No. 3 (8.02 percent, or one in 12 housing units); Bakersfield and No. 4 (6.17 percent, or one in 16 housing units); and Sacramento at No. 9 (5.20 percent, or one in 19 housing units).
Oh, wait…. ok… The CRP data is comparing sheriff sales to all housing sales, while the link I just posted is comparing foreclosures to total housing stock available. Nevermind! Time to keep researching. ;)
Foreclosures grow in fertile suburbs
Thursday, August 13, 2009 3:28 AM
BY MARK FERENCHIK
THE COLUMBUS DISPATCH
A growing percentage of foreclosed houses sold at sheriff’s auctions have been in suburban Franklin County school districts.
And in three districts, the percentage of sheriff’s sales as a share of overall sales is higher than in the Columbus school district.
The Whitehall, Hamilton and Groveport Madison school districts all had a higher percentage of sheriff’s sales in 2008 than the Columbus school district’s 43.1 percent, according to a recent study by the nonprofit Community Research Partners.
READ MORE