Distressed Inventory Report 3-13-10
Another gradual decline in distressed inventory overall. EB and WB were both down overall and SB edged up by 1 home overall. Everyone thought the foreclosed inventory was going to spike up as lenders got more aggressive foreclosing. However it appears what they are getting more aggresive at is listing the inventory and placing it on the market quicker. The amount of listed foreclosed and short sale inventory did rise this week. As you can see from the spreadsheet there is a big gap between the homes foreclosed and those actually listed. There are a number of reasons for this but I am seeing a much quicker turnaround on individual home addresses from when they show up foreclosed and are actually listed. What is not showing in the report is the quality of the inventory. The homes coming to the market now are tending to be older and not in very good condition.
The spreadsheet link is here: Bellevue Foreclosure Report 3-13-10