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Weekly Scorecard 12-27-10

This is the last one of the year and the inventory continues to drop and sales remain OK for this time of year. There are some big questions for next year and that is how much inventories will have their usual seasonal increase and how much distressed inventory as a percentage of the will be in that new inventory. I am seeing at the street level many fewer distressed sellers and more sellers considering that 2011 may be the time to sell. However when given present market pricing many of those sellers are looking to wait 2011 out until they started seeing prices improve. I think 2011 will see a year of low inventories with many buyers not wanting to participate unless they get the “value” pricing they were used to seeing and many sellers not wanting to participate until they see prices moving up and have more of an incentive to sell.

The spreadsheet is here: Weekly scorecard 12-27-10

Tags: Bellevue Homes, New Homes, pending sales, sold homes
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Distressed Inventory Report 12-25-10

Being Christmas I did not do a new report. I just copied the previous week’s numbers as a place holder to start the New Year. everyone have a good Holiday and let’s see what next year brings.

The spreadsheet is here: Bellevue Foreclosure Report 12-25-10

Tags: Bellevue Homes, Foreclosed, notice of trustee sale
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Weekly Scorecard 12-20-10

Same trend continues of strong closed sales and falling inventory. The overall inventory in East Bellevue is the lowest I have ever seen it.  Inventories do vary seasonally but this is very low even for this time of year. I am sure the inventories will increase at the first of the year but in my opinion it will not be as much as usual. The reason is that a lot of distressed inventory worked through the system in 2009 and not as much new inventory is coming on to replace it. Sellers who are not distressed are not choosing to participate in the market and sell until prices move up. That is the big question is when will prices start moving up. While inventories have been reduced and sales continue strong prices have not moved up. The average per sq. ft. sale prices remain stuck. I think the first of the year will bring a tug of war with newer inventory at higher overall prices and value conscious resistant buyers.

West Bellevue’s numbers were an anomally this week for the sold home numbers since a partially finished new construction was in there to throw off the numbers.

The spreadsheet is here: Weekly scorecard 12-20-10

Tags: Bellevue Homes, inventories, pending sales, sold homes
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Distressed Inventory Report 12-18-10

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

Tags: Bellevue Homes, foreclosed homes, short sales, West Bellevue
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Weekly Scorecard 12-13-10

The sales volumes are pretty high for this time of year except for west Bellevue which had a large number of sales but no pending sales and the pending sales for West Bellevue have been done the last couple of weeks. However the other areas have both a higher volume of sold and pending sales which could mean this market is settling out at a higher overall volume now that the sold homes and pending sales are starting to track a little more.

The inventorues fell like a stone this week. don’t know if that is due to sales or seasonal conditions. Later in the next month we should see inventories start rising but my gut feel is they will peak at a lower level this year than last year. The other notable trend is the amount of highend inventory closing. A waterfront in West Bellevue closed for $9,500,000 and you can see by the South Bellevue average home sale prices that some more expensive inventory was sold.

The spreadsheet is here: Weekly scorecard 12-13-10

Tags: Bellevue Homes, East Bellevue, pending sales, sold homes, South Bellevue, West Bellevue
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Distressed Inventory Report 12-11-10

The numbers keep creeping up and more listed bank homes are starting to make their way to the market. The interesting thing about this week’s numbers is that the NTS/Foreclosure ratio is moving higher. This means that the amount of foreclosed homes is decreasing and that there are more homes coming to the market with Notices of Trustee Sale (NTS). At the street level I am seeing this churning of inventory with the bank inventory being reduced and more short sales coming to the market. This market seems to be on a treadmill woth inventory being brought on at a fairly quick clip but opportunistic buyers seem to be picking it up.

The spreadsheet is here:  Bellevue Foreclosure Report 12-11-10

Tags: Bellevue Homes, foreclosed homes, notice of trustee sale, Short Sale
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