Here’s your January update on Foreclosure activity in King, Snohomish, and Pierce counties. First up, the Notice of Trustee Sale summary: January 2008 King: 915 NTS, up 113% YOY Snohomish: 463 NTS, up 95% YOY Pierce: 681 NTS, up 69% YOY First let’s look at the percentage of households that received a Notice of Trustee…
Year: 2009
$15k Tax Credit On the Chopping Block
It looks like the $15,000 homebuyer tax credit may not make it into the final “stimulus” plan after all… From the AP: Working to accommodate the new, lower overall limit of the bill, negotiators effectively wiped out a Senate-passed provision for a new $15,000 tax credit to defray the cost of buying a home, these…
Crash Comparisons: Job Losses & Dow Jones
House Speaker Nancy Pelosi recently posted an alarming chart of job losses that has been making the rounds. What jumps out to me when I look at her chart is the fact that the y-axis shows raw number of jobs rather than a percentage loss, and therefore fails to account for the increased size of…
One in Four Pending Sales Failed to Close in Q4
Now that 2008 Q4 + 1 month is in the past, let’s have an updated look at the relationship between pending and closed sales. In Q2, 15.9% of pending sales fell through. In Q3, it was 20.7%. Below is the updated chart including 2008 Q4. It shows quarterly King County SFH pending sales volume from…
Finding a deal as a well-positioned homebuyer?
Time to consider another hypothetical housing market scenario, this time from a buyer’s side. Meet Sam and Tiffany. This late 20’s couple has been renting for the first five years of their married life. They have always had a nice reasonable rent that has allowed them quite a bit of discretionary income between their two…