Distressed Inventory Report 9-12-09

By George Thurtle

The dichotomy of increasing number of foreclosed homes and a decreasing number of homes with a notice of Trustee Sale continues. The number of foreclosed homes is at an all time high at 26. The most since the report began. The lowest it has been was 16 on the August 8th report. However the number of homes with notices of Trustee Sale is at an all time low of 50. In the same August 8th report that number was at its peak at 74. It looks like that some of the homes with notices of Trustee Sales are going to foreclosure.

However the good news on the flip side is that the number of overall distressed homes is at an all time low of 76 this is a big drop from the 88 the week previous. So some of those homes that were scheduled for a Trustee Sale are either selling or having their defaults cured through a loan modification or some other means. In addition it also appears that the local economy is stabilizing and very little new inventory is being brought to the market with only 1 new home showing for its notice of Trustee Sale this week. Some of those homes that had notices of Trustee sale appeared to have closed so mybe some of those pending short sales are starting to happen. We will see in the Weekly Scorecard on Monday. East Bellevue Foreclosure Report 9-12-09

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