| Bank owned real estate auctions
and foreclosures in West Virginia. Foreclosed homes and real estate auction
listings in West Virginia including the state capital of Charlestown. Other
major cities where bank owned property can be located include Huntington,
Parkersburg, Wheeling, Morgantown, Weirton, Fairmont, Beckley, Clarksburg
and Martinsburg West Virginia.
In 2002, West Virginia had approximately
852,00 housing units, of which 720,000 of which were occupied homes. About
70% of these units were single-family, detached homes and the average household
size was 2.44 people. The median home value was $81,700, among the lowest
in the country. West Virginia consists of a total of 24,231 square miles.
The low cost of real estate makes it an attractive market to find bank
owned properties and foreclosure sales.
West Virginia has the 3nd highest
homeownership rate in the country (75.4 percent), 8.5 percentage points
higher than the national average. Homeprices relative to incomes are low.
West Virginia families earning the state’s median income could afford a
home priced 30 percent more than the state’s median priced home. Yet too
often, folks purchase properties they cannot afford, or a financial problem
makes them unable to satisfy their mortgage payments. These situations
contribute to the number of bank owned listings found in the West Virginia
real estate market through foreclosure sales of mortgagees auctions.
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