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.

Garden Love December 20, 2012 at 01:47 PM
Nate, the reason 328 Roehrig sold for 42,633 was the condition of the home. The purchaser stated that it needs major work. The City Building Department had it deemed "UN Habitable" on their inspection just a month before the purchase.
Garden Love December 20, 2012 at 02:00 PM
This house could have easily have sold for 70,000 if it was in better condition. Look at 3261 Charles, it is 1,344 sq.ft. The bank listed for 74,900 and sold for 72,000 in September. Must better comparable for an average livable home :)
cscharlt December 20, 2012 at 04:27 PM
I have watched the Zestimate for the value of my home since I bought it go up almost exactly the same in %age as the article states - notably more rapidly in the last 6 months. I think this represents the higher maturity of the neighborhoods in the area. I also observed a decent amount of friends I graduated HS and college with have returned to the city. Most of us are lucky to have landed good educations and thusly good jobs so despite the economy most of us have been and continue to invest in our homes. Another thing that drives me to take care of my home is that I was raised to have an obligation to myself, friends, family, and neighbors to maintain a my piece of the community. I think this shared sentiment really help people maintain a high average home value - since part of your home value is derived from your neighbors!
michelle January 04, 2013 at 03:49 PM
cscharlt, another great comment. I wish more people took pride in their homes and cities. I'm also a lifelong Trenton Resident (well except the 4 years in Southgate I will ignore, lol). I graduated from Trenton high as did my parents, cousins, etc.. I love this city. My son loves his schools and friends. It is great he can pretty much go around the whole city without me worrying much. That is what makes it worthwhile to keep paying that mortgage even though some place tells you that your house is worth less. Your house is worth so much more than what Zillow tells you.


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