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.

6 responses to “Distressed Sales Tumbled in March”

  1. drshort

    Do you have any stats about how many bank owned and short sales are being added to inventory now vs last year?

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  2. softwarengineer

    RE: drshort @ 1

    An October 2012 PI Article Documents a 10% YOY Increase in Short Sales

    http://www.seattlepi.com/realestate/article/Home-short-sales-set-record-in-King-County-3950317.php

    There were 196 foreclosed homes in the Kent area….many look immaculant from the outside [newer]….some with 4 bdrms and low $200s….

    http://www.southkingcountylistings.com/listings/minprice/220000/beds/1/areas/29047,29048,29049,29057,132245,134043,135751/sort/price+asc/#utm_source=reply.com&utm_medium=affiliate-mixed&utm_campaign=affiliates

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  3. One Eyed Man

    RE: drshort @ 1

    Here’s a link to the Realtytrac report on foreclosure inventory for the US for Q1 2013. It has a little of the specific info for Washington, including that pre-foreclosure inventory is up in Washington (I think it said a little over 40%, if I recall correctly) but probably not enough to return us to anywhere near normal total inventory levels (IMO),

    The link will pull up the summary article only. To get the full report go to the last line of the third paragraph and click the link in blue that says “online here.”

    http://www.realtytrac.com/content/foreclosure-market-report/q1-2013-foreclosure-inventory-analysis-7653

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  4. Erik

    RE: The Tim @ 4
    This helps put things into perspective. I think of bank owned sales as kryptonite to housing prices. I think they are close to linearly inverse proportional. In other words they are directly related in driving the price down when bank owned homes increase.

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  5. Erik

    Housing price change = -m(# bank owned sales)+b
    m is positive unknown scaling factor
    b is unknown intercept

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