Foreclosure vs. Non-Foreclosure Home

Characteristics in Eau Claire, WI

Foreclosure For Sale

Hypothesis Foreclosure average

list price will be less than for sale average list price

Foreclosures will be more concentrated in low-income areas

For sale homes on average will have more square footage than foreclosure homes

Zillow.com

Homes for Sale & Foreclosures from City of Eau Claire Website

City of Eau Claire Website Assessment Records-Attribute Data for both For Sale & Foreclosures homes Assessment Records

ArcGIS Geocoded address points, Spatial Statistic Tools-Hot Spot Analysis & Mean Center

Data Sources & Methods

For Sale 2420 5th St., Eau Claire, WI 54703 List

Price89,900 Year

Built 1917, 2-Story, 1456 Square Feet,

Detached Garage, 6 Rooms, 4

Bedrooms, 1 Bathroom

For Sale 624 Maple St., Eau Claire,

WI 54703 List Price 109,900, Year Built 1958, 1-Story, 1504 Square Feet,

Attached Garage, 6 Rooms, 2 Bedrooms

, 2 Bathrooms

Foreclosure 2155 12th

St., Eau Claire, WI 54703 List Price 92,500

Year Built 1929, 1-Story, 1056 Square Feet,

Detached Garage, 6

Rooms, 3

Bedrooms, 1 Bathroom

Foreclosure 456 Platt

St., Eau Claire, WI

54703 List Price 125,700 Multi-Unit, Year Built 1886, 2-Story, 1824 Square

Feet, Detached Garage, 9 Rooms, 4

Bedrooms, 2 Bathrooms

Foreclosure vs. For Sale Attribute Averages

  Averages    Attributes Foreclosure For Sale Difference1 List Price $107,728 $158,503 $50,7752 Assessed Value $113,728 $152,545 $38,8173 Year 1940 1950 104 Story 2 1 -15 Square Foot 1,408 1,691 2836 Room 6 6 07 Bedroom 3 3 08 Bathroom 2 2 09 Fireplace 1 1 1  Attributes Eau Claire Foreclosure Difference

Median List Price $119,500 $107,728 $11,772  Attributes Eau Claire For Sale Difference

Median List Price $119,500 $158,503 $39,003

Foreclosure & Census Data

by Two Zip CodesForeclosures in this study 22% 78%

Attributes Zip Code Data

Zip Code 54701 54703

Median Income $40,331 $38,068

High School Diploma 91.6% 89.5%

Bachelors Degree 37.4% 22.3%

Unemployed 3.5% 3.3%

Poverty 8.9% 14%

Occupation-Mgt./Professional 37% 26.7%

Demographics-White 95% 92.20%

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Foreclosure Hot Spot Analysis

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Foreclosure Hot Spot Analysis

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Foreclosure Hot Spots

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For Sale Hot Spots

$0 $50,000 $100,000 $150,000 $200,000 $250,000180018501900195020002050

Foreclosures List Price and Year Constructed

Foreclosure List Price

Year

Con

stru

cted

Foreclosure List Price and Year Constructed

There is a positive correlation between the year a home is constructed and the Foreclosure List Price. This means that the newer a home is the more expensive it becomes. The R-Squared value is almost 40% and that explains how often the relationship would occur between these two variable. This is not an example of a very high correlation so an assumption could be made that some other variable is contributing to Foreclosure List Price.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 320

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Square Footage in Foreclosure Homes vs. For Sale Homes

Foreclosure Square Footage

Number of Houses

Squa

re F

oota

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Conclusion

Foreclosure average list price is $50,775 lower than For Sale average list price

78% of Foreclosures located in low-income areas

For sale homes on average had 283 more square footage than foreclosure homes

Bibliography

 "Welcome to the City of Eau Claire Wisconsin." Welcome to the City of Eau Claire Wisconsin. Web. 05 June 2012. <http://www.ci.eau-claire.wi.us/>.

"Zillow Real Estate and Homes for Sale." Zillow. Web. 05 June 2012. <http://www.zillow.com/>.

"ZIPskinny - Get the Skinny on That ZIP (demographics by ZIP Code)." ZIPskinny - Get the Skinny on That ZIP (demographics by ZIP Code). Web. 07 June 2012. <http://zipskinny.com/>.