Distressed Inventory Report 12-12-09
There is a definite trend developing. It is not dramatic but gradually creeping. The number of distressed properties overall continues to rise and the NTS/Foreclosure ratio is inching back up after declining for three months. The only MLS area whose NTS/Foreclosure ratio that is still under 1.00 is West Bellevue but it is also gradually creeping up. There is not enough momentum in the swings to tell if this is seasonal because sales are slowing down. It also appears that some of the sellers are getting more aggressive on pricing. Some of the per sq. ft. numbers for the asking price for relatively generic homes appear to be above the traditional averages for the last three months. As has been discussed before this market is extremely price sensitive and has shown no sort of support for any sort of price increases. The seller needs to keep in mind demand is very weak in this market and to some extent discretionary depending on the value presented.
Click the link for the spreadsheet. Bellevue Foreclosure Report 12-12-09
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