Posted by: The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

10 responses to “Bank-Owned Sales Fall to Lowest Point Since April ’09”

  1. toad37

    That is interesting… they much be sitting on a ton still though, right?

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  2. Kary L. Krismer

    RE: toad37 @ 1 – If you think so, find it. I don’t think they are, assuming you exclude properties where they take over a year to foreclose.

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  3. Kary L. Krismer

    The short sale data would be more interesting as raw numbers. The raw numbers increased the past two months to what was probably a record. The question is whether that increase is due to:

    1. Banks putting more resources into processing short sales.
    2. Banks getting better offers due to the buyer frenzy.
    3. Banks seeing it as a way to give part of the $25 Billion away that’s part of the National Mortgage Settlement, without actually losing any money.

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  4. softwarengineer

    RE: toad37 @ 1

    This is the Wrong Website to be Asking That Question

    When we use data that could omit ‘em, we reference the data base, even if its masking them IMO. Identity fraud of duplication of our SSNs in the workplace is the same sort of organised crime conundrum….the banks, SSA and even the three Credit Agencies know its rampant, but TOTALLY mask its existance from us.

    Go to Dr Housing Bubble if you want to discuss Shadow Inventory, more open minds to data masking there.

    http://www.doctorhousingbubble.com/shadow-inventory-second-wave-foreclosure-defaults-short-sales-hidden-benefits-stimulus-of-not-paying-mortgage/

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  5. magnolia33

    Banks still holding homes off the market. I know of a few in magnolia, one nearby that they decided to rent out 2 years after the nod. It is not over yet that’s for sure.

    Cheers!

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  6. ARDELL

    Bank Owned Properties

    Bellevue For Sale 4 (2 condos, 2 houses), Sold YTD 107
    Kirkland For Sale 10 (4 condos, 6 houses), Sold YTD 129
    Redmond For Sale 11 ( 4 condos, 7 houses) Sold YTD 86

    Bellevue numbers look exceptionally low at the moment.

    (required disclosure: Above stats are not compiled, verified or published by The Northwest Multiple Listing Service.)

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  7. ARDELL

    RE: ARDELL @ 6

    It confuses me when I get a thumbs down on a comment that merely has some statistical data relating the post topic to some pure evidence. What’s not to like about that? I was looking at that data up for a completely different reason for one of my clients, but since I had it sitting here on my desk I thought it might be of interest to someone.

    Seriously asking. How can someone thumbs down “numbers”?

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  8. ARDELL

    RE: ARDELL @ 7

    Odd…now my comment is going to moderation. I guess evidences are not appreciated.

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  9. Kary L. Krismer

    RE: The Tim @ 9RE: ARDELL @ 7 – As to Ardell’s first comment, some people don’t like what the facts are.

    As to Tim’s comments, the moderation starts earlier than 7:00 a.m. I’m often up by 5:30, and this is the 15th place I go to each morning on the Internet (the others being mainly news sites). I’d just assumed it started around midnight.

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