Search Foreclosure & REO Transactions

We've recently made some major changes to the MidlandsTrends.com database! We've added a "Foreclosure & REO Search" form available to FREE and Upgraded users. Search by the following:

• Richland or Lexington County
• Transaction Date Range
• Foreclosure and/or REO Transaction
• Property Type: Residential, Land or Commercial

Upgraded users are able to download the list of foreclosures and REOs to a spreadsheet for further analyzing and research. Use this new tool to estimate liquidation value, price a fire sale, search for potential investments, etc.

Having owned investment property, in the past I've used all the highly marketed online tools such as RealtyTrac.com and Foreclosure.com. Typically I'd cancelled my accounts within weeks after learning how out-dated or inaccurate the data was. More than a few times I'd emailed both services to clarify inaccuracy's in the data I received; the response was usually vague and did not resolve my issue. MidlandsTrends.com is based on actual transactions recorded at the county.

-Terry Peterson, PMP

March 2010 Update

Richland County finally came through with posting their year-end real estate data and they had a huge Q4 in 2009. December was Richland County's and Lexington County's busiest month for commercial real estate transactions, 31 for Richland and 17 for Lexington. In dollar-volume, both county's ended the year with the their most lucrative months totaling $270M in real estate transactions.






Sales data based on county assessor-stated sales prices, includes FSBO, Foreclosure and REO transaction. Please read our disclaimer regarding real estate transaction data.

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Visit MidlandsTrends.com and register for FREE access to search our real estate sales database, including FSBO sales, foreclosure and REO search!

-Terry Peterson, PMP

February 2010 Update

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Lexington County had a very strong December in commercial real estate with 15 transactions. That may not sound like much, but it's the second busiest month for commercial activity in the county for the year. Lexington also boasted the most real estate activity for the year dollar-volume-wise in December with $99 million in transactions.






*September through December represent partial data; includes FSBO and REO transactions

A new metric we'll begin to track is average price per square foot for single-family residences sold in Lexington and Richland County, in the chart above. A cursory looks says these numbers are too low to be correct; but a further inspection gives the explanation. Over 600 single-family property transactions in these two counties consisted of foreclosures, that's an average of >25 foreclosures per month in each county. The flip side is that a large number of single-family property transactions involved individuals and investors buying REO's from the lenders at a reduced rate; both phenomena lending to a lower than typical price per square foot ratio.

Though it's no secret to real estate professionals, this chart also backs the theory that May, June, July and August are the best months to sell a home with consistently higher prices per square foot. The boost in prices and number of sales at year end is assuredly attributable to the Home Buyers Tax Credit. With the tax credit's extension through April 30, 2010 (good on purchased closed through June 30, 2010), we can expect this artificial rise in home prices to trail off come mid-2010.

-Terry Peterson, PMP


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