new NWMLS short sale & REO fields will not be public

[The Tim]

FYI, for those of you who that the NWMLS recently added "Short Sale" and "REO" checkboxes that are now required to be filled out for all listings, and were wondering how long it would be before we could search these fields on Redfin or Estately...

The answer is: you don't get to search these fields unless you're an agent with direct access to the NWMLS Discover database, because that's the only people the new fields will be available to.

So, maybe we can convince one of our friendly agent participants (Ira?) to begin running some regular stats on short sale and REO data, because that's the only way most of us will get any real benefit from this new improvement in the NWMLS database.

[ira s]

I'd be delighted to. But at the moment there does not appear to be a mechanism within the NWMLS Discover Locator search fields to look for that. Maybe it's a glitch, maybe it's me, but I'll phone the NWMLS office tomorrow and figure it out if it can be figured out.

[The Tim]

Interesting, Ira. Thanks for the update. I thought I had heard that the new field was supposed to be fully implemented by April 29. Keep us posted.

[ira s]

NWMLS was having some website issues last night, but all is well now. here are some numbers. I believe it's going to take some time for some agents to get it together and become compliant with the rules, and that the actual figures should be higher.
For single family residences listed as short sale :
King County: 690.
Pierce County 530
Snohomish County 384

For condos listed as short sale
King County 184
Pierce County 38
Snohomish County 76

For single family homes listed as REO
King County 235
Pierce County 279
Snohomish County 178

For condos listed as REO
King County 63
Pierce County 9
Snohomish 13

also this list is not complete as I had to fill in the price field before it would spit out information. This is for anything under 10 million dollars, and also does not include any other counties besides King, Pierce, and Snohomish.
But I can look it up if desired.

[Angie]

Thanks for that, Ira--I appreciate it.

So, as a back of the envelope calculation, that's about 10% of the SFH listed in King County right now:

690 short + 235 REO = 925
About 9800 SFH listed on the front page right now

Veddy veddy interesting.