Number of Foreclosures in Trenton Lowest in Years
Banks have begun listing foreclosed houses at their true cash value, according to Trenton Assessor John Dahlquist.
The number of foreclosed houses in Trenton has dropped dramatically over the past three years, according to Trenton Assessor John Dahlquist.
The current number of foreclosed houses in Trenton has dropped from 270 in 2009 to 70 in 2012.
AOL Real Estate has just 20 Trenton foreclosures available for sale on their website.
Dahlquist said the reason for the reduction in foreclosed houses might be due to a low initial list price, but those days seem to be long gone.
"I have noticed the banks (that own foreclosed houses) are selling them close to what we have them valued at," Dahlquist said.
For example, a 1,456 square-foot house at 328 Roehrig Street with three bedrooms and two bathrooms sold in November for about $20,000 below asking price. The asking price on the house was $62,500 and the house sold for $42,633, according to AOL Real Estate.
The value of the average home in Trenton has increased in 2012 by about 3.9 percent from previous years. A house that with an assessed value of $52,000 has a true cash value of about $104,000, which is up from previous years.