Now that 2009 Q1 + 1 month is in the past, let’s have an updated look at the relationship between pending and closed sales. For previous posts on this subject, hit the ‘pending’ tag archive. Below is the updated chart including 2009 Q1. It shows quarterly King County SFH pending sales volume from the NWMLS,…
Tag: foreclosures
Banks Undercutting Themselves at Courthouse Foreclosure Auctions
This weekend’s open thread touched on one example of a bank bidding nearly 25% less than what it was owed for a foreclosed home at the courthouse auction. Well, our good friend Jillayne Schlicke over at Rain City Guide actually attended a foreclosure auction a week ago, and wrote up an interesting post on this…
Cramdowns Rejected by Senate, Appraisals Insulated from Banks
Two good news stories on the national front that are worth sharing this morning. Story 1: Senate Defeats Mortgage ‘Cram-Down’ as Democrats Balk The U.S. Senate rejected a measure that would let bankruptcy judges cut mortgage terms to help borrowers avoid foreclosure, a victory for banks and credit unions that said the legislation would increase…
Morning News Links: Boeing Profit, Prime Defaults
Here’s a brief roundup of some of this morning’s housing and economic news: Seattle P-I: Boeing profit falls 50 percent on production cuts (AP coverage) Bloomberg: Fannie, Freddie Defaults Rise as Borrowers Cite Lower Income Associated Press: Freddie Mac official found dead in apparent suicide Bloomberg: U.S. Apartment Rents, Occupancies Fall Amid Rise in Job…
Foreclosures Yet Again Shot to New Record Highs in March
Time for our March update on Foreclosure activity in King, Snohomish, and Pierce counties. First up, the Notice of Trustee Sale summary: March 2009 King: 1,089 NTS, up 129% YOY Snohomish: 499 NTS, up 125% YOY Pierce: 705 NTS, up 51% YOY Here’s a simple look at how March’s foreclosures compare to the same month…