{"id":18504,"date":"2012-01-10T12:00:05","date_gmt":"2012-01-10T20:00:05","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=18504"},"modified":"2012-01-10T15:17:07","modified_gmt":"2012-01-10T23:17:07","slug":"federal-government-sells-over-1-in-4-seattle-area-reos","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2012\/01\/10\/federal-government-sells-over-1-in-4-seattle-area-reos\/","title":{"rendered":"Federal Government Sells Over 1 in 4 Seattle-Area REOs"},"content":{"rendered":"<p><span style=\"font-size:85%; font-style:italic;\">Full disclosure: The Tim is <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/07\/14\/some-noteworthy-personal-news\/\" title=\"Some Noteworthy Personal News...\">employed by Redfin<\/a>.<\/span><\/p>\n<p>We&#8217;ve been digging into a lot of different data at <a href=\"http:\/\/www.redfin.com\/\" title=\"Redfin Real Estate\">Redfin<\/a> lately, and I found this particular set to be quite interesting.  What I&#8217;ve done here is take all the bank-owned (REO) sales over 2011 and group them by the bank that was selling the home.  The table below shows the 20 banks that unloaded the most REO inventory around Seattle in 2011.<\/p>\n<p>In total there were 11,910 REO sales across King, Snohomish, and Pierce Counties in 2011.  2,199 of those (18.5%) were sold by Fannie Mae, with an additional 629 (5.3%) sold by Freddie Mac.  When you include HUD and the Veterans Administration, the total share of Seattle-area REOs sold by federal government agencies hits 28%.<\/p>\n<p>Here are a few overall stats to give the numbers in the table some more context.  &#8220;StO&#8221; is the ratio of the sale price to the <em>original<\/em> list price, while &#8220;StL&#8221; is the ratio of sale price to the <em>final<\/em> list price.  For &#8220;Days on Market&#8221; I&#8217;m counting the number of days between when the listing originally hit the market and when it went pending.  The numbers in those three columns in the table are the average for all the sales by the respective bank in 2011.<\/p>\n<p><strong>Bank-Owned:<\/strong> 11,910 sales, 90.9% StO, 97.6% StL, 65 Days on Market.<br \/>\n<strong>Short Sales:<\/strong> 4,461 sales, 87.0% StO, 98.0% StL, 129 Days on Market.<br \/>\n<strong>Non-Distressed:<\/strong> 23,715 sales, 93.8% StO, 97.1% StL, 81 Days on Market.<\/p>\n<p><span style=\"font-size:85%; font-style:italic; margin:0;\">Click on any column header to sort by that column.<\/span><\/p>\n<style>.row-highlight td {background-color: #CCFFCC;}<\/style>\n<table class=\"sortable\" style=\"margin:0 0 15px;\">\n<tr>\n<th>Bank<\/th>\n<th>2011 Sales<\/th>\n<th>Sale-to-Orig.<\/th>\n<th>Sale-to-List<\/th>\n<th>Days on Market<\/th>\n<\/tr>\n<tr>\n<td>Fannie Mae<\/td>\n<td>2,199<\/td>\n<td>91.4%<\/td>\n<td>96.8%<\/td>\n<td>54<\/td>\n<\/tr>\n<tr>\n<td>US Bank<\/td>\n<td>629<\/td>\n<td>89.5%<\/td>\n<td>97.7%<\/td>\n<td>66<\/td>\n<\/tr>\n<tr>\n<td>Freddie Mac<\/td>\n<td>626<\/td>\n<td>92.0%<\/td>\n<td>99.2%<\/td>\n<td>63<\/td>\n<\/tr>\n<tr>\n<td>Deutsche Bank<\/td>\n<td>583<\/td>\n<td>88.9%<\/td>\n<td>96.9%<\/td>\n<td>66<\/td>\n<\/tr>\n<tr>\n<td>Wells Fargo<\/td>\n<td>485<\/td>\n<td>91.4%<\/td>\n<td>98.8%<\/td>\n<td>69<\/td>\n<\/tr>\n<tr>\n<td>Aurora Loan Services<\/td>\n<td>383<\/td>\n<td>94.6%<\/td>\n<td>99.4%<\/td>\n<td>51<\/td>\n<\/tr>\n<tr>\n<td>US Dept. of Housing &#038; Urban Development<\/td>\n<td>354<\/td>\n<td>89.7%<\/td>\n<td>99.5%<\/td>\n<td>63<\/td>\n<\/tr>\n<tr>\n<td>HSBC Bank<\/td>\n<td>323<\/td>\n<td>89.4%<\/td>\n<td>97.9%<\/td>\n<td>70<\/td>\n<\/tr>\n<tr>\n<td>Bank of New York Mellon<\/td>\n<td>214<\/td>\n<td>90.2%<\/td>\n<td>96.8%<\/td>\n<td>57<\/td>\n<\/tr>\n<tr>\n<td>Bank of America<\/td>\n<td>198<\/td>\n<td>90.2%<\/td>\n<td>96.5%<\/td>\n<td>64<\/td>\n<\/tr>\n<tr>\n<td>Dept. of Veterans Affairs<\/td>\n<td>158<\/td>\n<td>92.4%<\/td>\n<td>97.0%<\/td>\n<td>64<\/td>\n<\/tr>\n<tr>\n<td>Citibank<\/td>\n<td>144<\/td>\n<td>93.7%<\/td>\n<td>97.6%<\/td>\n<td>58<\/td>\n<\/tr>\n<tr>\n<td>Sterling Savings<\/td>\n<td>132<\/td>\n<td>91.5%<\/td>\n<td>94.5%<\/td>\n<td>45<\/td>\n<\/tr>\n<tr>\n<td>Washington Federal<\/td>\n<td>124<\/td>\n<td>93.8%<\/td>\n<td>97.3%<\/td>\n<td>75<\/td>\n<\/tr>\n<tr>\n<td>Boeing Employees Credit Union<\/td>\n<td>104<\/td>\n<td>92.7%<\/td>\n<td>96.2%<\/td>\n<td>72<\/td>\n<\/tr>\n<tr>\n<td>GMAC Financial Services<\/td>\n<td>92<\/td>\n<td>93.2%<\/td>\n<td>98.8%<\/td>\n<td>54<\/td>\n<\/tr>\n<tr>\n<td>JP Morgan Chase<\/td>\n<td>83<\/td>\n<td>93.3%<\/td>\n<td>99.6%<\/td>\n<td>62<\/td>\n<\/tr>\n<tr>\n<td>First Savings Bank Northwest<\/td>\n<td>78<\/td>\n<td>95.2%<\/td>\n<td>97.0%<\/td>\n<td>96<\/td>\n<\/tr>\n<tr>\n<td>Union Bank<\/td>\n<td>71<\/td>\n<td>89.6%<\/td>\n<td>95.1%<\/td>\n<td>110<\/td>\n<\/tr>\n<tr>\n<td>Homestreet Bank<\/td>\n<td>70<\/td>\n<td>93.3%<\/td>\n<td>97.7%<\/td>\n<td>82<\/td>\n<\/tr>\n<\/table>\n<p>And now for the awards&#8230;<\/p>\n<p><strong>Most Realistic Original Pricing:<\/strong> First Savings Bank Northwest &#8211; 95.2% Sale to Original<br \/>\n<strong>Least Realistic Original Pricing:<\/strong> Deutsche Bank &#8211; 88.9% Sale to Original<\/p>\n<p><strong>Most Willing to Negotiate:<\/strong> Sterling Savings &#8211; 94.5% Sale to List<br \/>\n<strong>Least Willing to Negotiate:<\/strong> JP Morgan Chase &#8211; 99.6% Sale to List<\/p>\n<p><strong>Quickest to Sell:<\/strong> Sterling Savings &#8211; 45 Days on Market<br \/>\n<strong>Slowest to Sell:<\/strong> Union Bank &#8211; 110 Days on Market<\/p>\n<p>Some of those stats (especially the first two) seem like they might be useful to a potential buyer if they&#8217;re considering making an offer on a bank-owned home.  If you want to figure out which bank owns a home you&#8217;re interested in, I recommend these posts: <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/02\/17\/how-to-navigate-and-understand-public-records\/\" title=\"How-To: Navigate and Understand Public Records\">How-To: Navigate and Understand Public Records<\/a> and <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/06\/22\/guided-tour-king-countys-new-online-property-records\/\" title=\"Guided Tour: King County\u2019s New Online Property Records\">Guided Tour: King County\u2019s New Online Property Records<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Full disclosure: The Tim is employed by Redfin. We&#8217;ve been digging into a lot of different data at Redfin lately, and I found this particular set to be quite interesting. What I&#8217;ve done here is take all the bank-owned (REO) sales over 2011 and group them by the bank that was selling the home. The&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8,616],"tags":[305,697,828],"coauthors":[],"class_list":["post-18504","post","type-post","status-publish","format-standard","hentry","category-stats","category-counties","tag-banks","tag-reo","tag-top-20"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Federal Government Sells Over 1 in 4 Seattle-Area REOs \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2012\/01\/10\/federal-government-sells-over-1-in-4-seattle-area-reos\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Federal Government Sells Over 1 in 4 Seattle-Area REOs \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Full disclosure: The Tim is employed by Redfin. We&#8217;ve been digging into a lot of different data at Redfin lately, and I found this particular set to be quite interesting. What I&#8217;ve done here is take all the bank-owned (REO) sales over 2011 and group them by the bank that was selling the home. The...\" \/>\n<meta name=\"twitter:creator\" content=\"@The_Tim\" \/>\n<meta name=\"twitter:site\" content=\"@SeattleBubble\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Tim\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/01\/10\/federal-government-sells-over-1-in-4-seattle-area-reos\/\",\"url\":\"https:\/\/seattlebubble.com\/blog\/2012\/01\/10\/federal-government-sells-over-1-in-4-seattle-area-reos\/\",\"name\":\"Federal Government Sells Over 1 in 4 Seattle-Area REOs \u2022 Seattle Bubble\",\"isPartOf\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\"},\"datePublished\":\"2012-01-10T20:00:05+00:00\",\"dateModified\":\"2012-01-10T23:17:07+00:00\",\"author\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\"},\"breadcrumb\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/01\/10\/federal-government-sells-over-1-in-4-seattle-area-reos\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/seattlebubble.com\/blog\/2012\/01\/10\/federal-government-sells-over-1-in-4-seattle-area-reos\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2012\/01\/10\/federal-government-sells-over-1-in-4-seattle-area-reos\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/seattlebubble.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Federal Government Sells Over 1 in 4 Seattle-Area REOs\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\",\"url\":\"https:\/\/seattlebubble.com\/blog\/\",\"name\":\"Seattle Bubble\",\"description\":\"local\u00a0real\u00a0estate\u00a0news, statistics,\u00a0and\u00a0commentary without\u00a0the\u00a0sales\u00a0spin.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/seattlebubble.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\",\"name\":\"The Tim\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/image\/37756956c11dcc50d2559761ffa5ee70\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"caption\":\"The Tim\"},\"description\":\"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. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.\",\"sameAs\":[\"http:\/\/SeattleBubble.com\/\",\"http:\/\/facebook.com\/is.totally.pointless\",\"https:\/\/x.com\/The_Tim\"],\"url\":\"https:\/\/seattlebubble.com\/blog\/author\/timothyellis\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Federal Government Sells Over 1 in 4 Seattle-Area REOs \u2022 Seattle Bubble","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/seattlebubble.com\/blog\/2012\/01\/10\/federal-government-sells-over-1-in-4-seattle-area-reos\/","twitter_card":"summary_large_image","twitter_title":"Federal Government Sells Over 1 in 4 Seattle-Area REOs \u2022 Seattle Bubble","twitter_description":"Full disclosure: The Tim is employed by Redfin. We&#8217;ve been digging into a lot of different data at Redfin lately, and I found this particular set to be quite interesting. What I&#8217;ve done here is take all the bank-owned (REO) sales over 2011 and group them by the bank that was selling the home. The...","twitter_creator":"@The_Tim","twitter_site":"@SeattleBubble","twitter_misc":{"Written by":"The Tim","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/seattlebubble.com\/blog\/2012\/01\/10\/federal-government-sells-over-1-in-4-seattle-area-reos\/","url":"https:\/\/seattlebubble.com\/blog\/2012\/01\/10\/federal-government-sells-over-1-in-4-seattle-area-reos\/","name":"Federal Government Sells Over 1 in 4 Seattle-Area REOs \u2022 Seattle Bubble","isPartOf":{"@id":"https:\/\/seattlebubble.com\/blog\/#website"},"datePublished":"2012-01-10T20:00:05+00:00","dateModified":"2012-01-10T23:17:07+00:00","author":{"@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f"},"breadcrumb":{"@id":"https:\/\/seattlebubble.com\/blog\/2012\/01\/10\/federal-government-sells-over-1-in-4-seattle-area-reos\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/seattlebubble.com\/blog\/2012\/01\/10\/federal-government-sells-over-1-in-4-seattle-area-reos\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/seattlebubble.com\/blog\/2012\/01\/10\/federal-government-sells-over-1-in-4-seattle-area-reos\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/seattlebubble.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Federal Government Sells Over 1 in 4 Seattle-Area REOs"}]},{"@type":"WebSite","@id":"https:\/\/seattlebubble.com\/blog\/#website","url":"https:\/\/seattlebubble.com\/blog\/","name":"Seattle Bubble","description":"local\u00a0real\u00a0estate\u00a0news, statistics,\u00a0and\u00a0commentary without\u00a0the\u00a0sales\u00a0spin.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/seattlebubble.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f","name":"The Tim","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/image\/37756956c11dcc50d2559761ffa5ee70","url":"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g","caption":"The Tim"},"description":"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. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.","sameAs":["http:\/\/SeattleBubble.com\/","http:\/\/facebook.com\/is.totally.pointless","https:\/\/x.com\/The_Tim"],"url":"https:\/\/seattlebubble.com\/blog\/author\/timothyellis\/"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6wh0F-4Os","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts\/18504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/comments?post=18504"}],"version-history":[{"count":0,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts\/18504\/revisions"}],"wp:attachment":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/media?parent=18504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/categories?post=18504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/tags?post=18504"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/coauthors?post=18504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}