Distressed Inventory Report 12-18-10

By George Thurtle

I am finally getting caught up on my posts. The storyu here is the decline in distrssed inventories bot listed and unlisted. The listed inventories experinced a surge of sales this last week before Christmas. It will be interesting to see what activity the first of the year brings. Generally foreclosure activity at the larger institutions slows down this time of year and picks up in the last half of January. My gut feel is that it will pick it up it will be at lower levels than last year and that amount of distressed inventory in the overall market will see further declines with bigger drops in the last half of 2011. In the upper end there is a couple of new opportunities in West Bellevue. There is a $1,600,000 former builder’s home in Beaux Arts for $1,600,000 owned by Wells Fargo and also another one owned by East West Bank in came on for $1,800,000. Both of these are newer homes in good West Bellevue locations. It has been hard to find this type of inventory for the last six months. If anyone has any interest please le tme know.

The spreadsheet is here: Bellevue Foreclosure Report 12-18-10

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