I recently took a random look at the current sheriff sales listed for Brown and Outagamie County. My sample included 10 from each county. I kind of wanted to see what the average value of a foreclosure was. In Brown County the average was roughly $132,436 and in Outagamie the average was roughly $119,640. OK, now both of these averages are under $135000 so I would guess that a good number of these foreclosures were 1st-time home-buyers (not a scientific conclusion)but not that far of a stretch based on the values.
I think it's good to look at these types of numbers though. It helps in pinpointing where there may have been product failures.
Draw your own conclusions, but as far as the fox valley area it's not the big dollar homes that are being foreclosed upon.
| Brown County Median Sale Price | |||||
| Q1 | Q2 | Q3 | Q4 | Total | |
| 2008 | $136,700 | ||||
| 2007 | $144,000 | $150,800 | $150,800 | $150,000 | $149,200 |
| 2006 | $150,800 | $153,300 | $151,400 | $146,200 | $150,700 |
| 2005 | $149,300 | $151,700 | $153,700 | $147,700 | $151,400 |
| Outagamie County Median Sale Price | |||||
| Q1 | Q2 | Q3 | Q4 | Total | |
| 2008 | $131,400 | ||||
| 2007 | $128,600 | $138,600 | $147,700 | $137,300 | $138,600 |
| 2006 | $140,000 | $137,300 | $140,000 | $140,000 | $138,700 |
| 2005 | $138,600 | $138,500 | $140,000 | $130,800 | $ $138,300 |
Wisconsin's median price in the 1st quarter of 2008 was $154,000, according to the Wisconsin Realtors Association. The foreclosures I looked at, are on average, quite a bit below the WI median price. Thus these are generally below average valued homes being foreclosed on. The very price range that oftentimes attracts 1st-time buyers.
Love to know how many of these were 1st-timers?ARMS?
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