From the years 2008 to 2012, the median sales price for all homes in Rockwall County decreased by 0.011%. Since 2012, the median sales price has increased by 16%. Simply saying, for every $100,000 a consumer spent on housing, there home value has possibly increased $16,000. What if you bought a foreclosure during the years 2008-2012? What type of equity do you really have today?
The results are staggering. We pulled all foreclosures in Rockwall County during that time, sold through the MLS, and we averaged their values according to their respective subdivision/area, square foot ranges, and based our findings on recent property sales. We came up with approximate values for properties purchased out of foreclosure during that 5 year period. (It’s important to understand these are approximations, each property was not evaluated individually. Property values will vary on a wide variety of factors. These values are based on true averages within each subdivision/property area).
We found buyers who purchased homes out of foreclosure have seen a county wide average increase in their property values of 36%! That’s $36,000 for every $100,000 spent. Some subdivisions averaged an increase over 50%. Some Buyer purchased their foreclosures with only 1% increase in value, but in others, values have risen 253%! Jumbo CD’s, minimum start-up of $100,000, offer an annual return of 2.02%. Some of your highest yield (& high risk) investments pay out 10-12%. Here’s a countywide breakdown:
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