Distressed Inventory Report 5-29-10
Well the second wave is coming. All areas are up paticularly regarding the Notice of Trustee Sale (NTS). Some of these are repostings from failed short sales where the Trustee Sale was postponed and in some cases the lender feels the necessity to repost the NTS and start the clock again. This was the case for some new construction homes in 98005. However in reviewing the individual filings most of the new notices are individuals not builders. It appears that a number of people have been trying to do the right thing and hang on and the economy is cutting them no slack.
A new wave with lower interest rates will present some new inventory and some new buying opportunities.
The spreadsheet is here: Bellevue Foreclosure Report 5-29-10