Distressed Inventory Report 2-27-10
The big news this week is that the distressed inventory has seen a decline. The number of homes with notice of trustee sale (NTS) took a siginificant decline in all areas of Bellevue. The number of foreclosed homes held steady. It appears that more homes are being sold at auction and that more short sells are successful. South Bellevue (SB) saw the amount of homes with NTS decline from 31 to 24. All areas saw a decline in its NTS homes.
The amount of listed inventory remains steady. We will see if this trend continues but overall , in my opinion, this market is very muddled with declining inventories and soft demand There are very few bank owned new homes. This inventory is pretty well cleaned out with only three bank homes being listed now in the Bellevue area. There are few with a notice of trustee sale but not very many. Last November and December saw most of this inventory being cleaned out. Anyone who wants to know about these homes please email.
Here is the spreadsheet: Bellevue Foreclosure Report 2-27-10