Posted by: Timothy Ellis (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 Edged Up in September”

  1. Kary L. Krismer

    The number of short sales I find more interesting. It has been fairly steady for months at around 200 or so, but bumped up in July and August. I was hoping that would be a trend, but it fell back in September.

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  2. WestSideBilly

    Tim (or anyone else) – can you explain the seasonality of bank owned sales? Why do they peak in January-February? Is it that the numbers are fairly constant but the total sales are hitting their seasonal low?

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  3. Kary L. Krismer

    By WestSideBilly @ 2:

    Tim (or anyone else) – can you explain the seasonality of bank owned sales? Why do they peak in January-February? Is it that the numbers are fairly constant but the total sales are hitting their seasonal low?

    Yes, which is why the median fluctuates. But they have been dropping in number too as of late.

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  4. David Losh

    RE: WestSideBilly @ 2

    More investors will buy in January, February for a turn at the Spring selling season. It is also the beginning of the year which let’s people play with the profits for a longer period of time before they pay taxes.

    Banks, lenders, and investors have fiscal calenders where they will sell for a better tax consequence, of profit, or losses.

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  5. Kary L. Krismer

    RE: WestSideBilly @ 2 – I just check and 2/11 was rather low and 3/11 rather high, but that doesn’t show in the percentages that well.

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  6. David S

    Wow my zip must be hobbled I’m showing:

    284 SFH active
    of those
    18 REO 6.3%
    107 SS 37.7%
    Distressed is 44%

    We’re in line with the REO total market percentage but way up on the SS percentage of market.

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  7. Kary L. Krismer

    RE: David S @ 7 – Tim’s data is of closed listings. You’re using active. Short sales often don’t close–only about half do last time I looked.

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  8. David S

    RE: Kary L. Krismer @ 8 – You’re correct. At closer to 19% SS then as the countywide chart shows.

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  9. softwarengineer

    RE: David Losh @ 5

    Who Would Guess

    The American Stock market shooting up 30%+ YOY to date. Makes real estate investment in bank owned used stock look moot and low return [if any] in comparison.

    We’re clearly in a new paradigm for investing. Ben’s QEs will be pumped into interest rate lowering through 2015 to keep this investment trend going?

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