Distressed Inventory Report 2-19-11
The numbers are continuing to move up. The Notice of Trustee Sale (NTS) notices are the ones taking the big jump with with South Belleuve having 8 new notices in one week. Haven’t seen activity like that since last summer. There is some churning going on with the NTS notices. In West Bellevue there were four new NTS notices but the amount of NTS inventory only jumped by one home. The sales appear strong as the bank owned inventory is changing but the sales are no longer keeping up with the new foreclosure activity. Also there appear to be some houses entering the market in these new foreclosures but most of the activity is at the lower end under $500,000. All except one new NTS in West Bellevue was a low end condo in an old converted apartment building. In general it takes about 90 days for a foreclosed home to enter the system. The amount of listed foreclosed and short sale homes do not yet refelct the increase in the overall numbers.
The spreadsheet is here: Bellevue Foreclosure Report 2-19-11