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Foreclosure vs. Non-Foreclosure Home Characteristics in Eau Claire, WI

Foreclosure vs. Non-Foreclosure Home Characteristics in Eau Claire, WI. Foreclosure. For Sale. Foreclosure average list price will be less than for sale average list price Foreclosures will be more concentrated in low-income areas

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Foreclosure vs. Non-Foreclosure Home Characteristics in Eau Claire, WI

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  1. Foreclosure vs. Non-Foreclosure Home Characteristics in Eau Claire, WI Foreclosure For Sale

  2. 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 Hypothesis

  3. Data Sources & Methods • Zillow.comHomes 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 • ArcGISGeocoded address points, Spatial Statistic Tools-Hot Spot Analysis & Mean Center

  4. Foreclosure vs.For Sale Attribute Averages

  5. Foreclosure & Census Data by Two Zip Codes

  6. Foreclosure Hot Spots For Sale Hot Spots

  7. Foreclosure List Priceand 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.

  8. 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

  9. 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/>.

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