Bellevue Real Estate » Weekly

Weekly East Bellevue Real Estate Statistics

George Thurtle — Mon, 01 Jun 2009 07:03:32 +0000

The following charts of East Bellevue real estate statistics are updated weekly, and provided by Altos Research.

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98004
98005
98006
98007
98008

Weekly Stats for 98004

Median Price

Inventory

Average Days on Market

Market Action Index

Weekly Stats for 98005

Median Price

Inventory

Average Days on Market

Market Action Index

Weekly Stats for 98006

Median Price

Inventory

Average Days on Market

Market Action Index

Weekly Stats for 98007

Median Price

Inventory

Average Days on Market

Market Action Index

Weekly Stats for 98008

Median Price

Inventory

Average Days on Market

Market Action Index

Distressed Inventory Report 3-20-10

George Thurtle — Sat, 20 Mar 2010 15:12:58 +0000

The character of things changed a little bit this week. Overall the amount of distressed inventory is down slightly with the amount of foreclosed homes being down overall. However the notice of trustee sales is up in certain areas: 98008, 98004 and 98006. Also the amount of listed distressed inventory continues to rise both foreclosed and short sale. This is good news to get this inventory on the market. Presently it looks like the sale of homes is about even with those coming on. Looks like the passengers on the boat are able to bail water about as fast as it is coming in.

Here is the apreadsheet: Bellevue Foreclosure Report 3-20-10

Weekly Scorecard 2-15-10

George Thurtle — Tue, 16 Feb 2010 04:45:23 +0000

Still no big increase in inventories. I would expect more homes coming to the market this time of year no matter what the market conditions. EB had a mild increase from 212 to 220 and the areas held steady. Sales and homes going pending in EB seem somwhat slow so we will have to keep an eye on that area. SB had 13 homes go pending this week. The per sq. ft. spike in the sales price for SB is caused by a $4,000,000 waterfront home closing.

Here is the spreadsheet: Weekly scorecard 2-15-10

Distressed Inventory Report 1-16-10

George Thurtle — Sat, 16 Jan 2010 16:38:13 +0000

The numbers keep creeping up. East Bellevue is up to 111 homes total distressed inventory. West and South Bellevue held steady on their numbers for the week. However it appears the more moderate price range is starting to have some troubles. Those folks who have hung on are having problems finding a job and now the day of reckoning is approaching. These are the mid-level managers and higher end wage earners who have lost employment and find their employment prospects bleak. It was thought that the upper end, in particular West Bellevue, was going to be a disaster but that is not shaping up to be the case. Home prices are not moving up but even with the most expensive homes if the price gets to be the right level there appears to be plenty of buyers. At least enough demand to meet the present amount of inventory being created. However in East Bellevue those homes are not the luxury homes but great middle class homes in a great location but that portion of the market, middle income, seems to be struggling. Some job employment incentives and programs had better be created quickly or the trend of the shrinking middle class might start accelerating if some of these folks with good skills and experience don’t have the opportunity to put those skills and experience to use.

Here is the link for the spreadsheet: Bellevue Foreclosure Report 1-16-10

Weekly Scorecard 1-11-10

George Thurtle — Tue, 12 Jan 2010 02:48:33 +0000

The numbers don’t say a whole lot this week. Overall volumes were low, particularly in West Bellevue. Of the two pendings however one was a tear down. South Bellevue had a number of pending sales at 10, will have to see if this an indicator of future volume. Overall inventories took a slight bump up as homes started being brought to the market for the new year. Probably will see this number move up the next month. Overall a little mopre activity than I thought we were going to see.

Click here for the spreadsheet: Weekly scorecard 1-11-10

Distressed Inventory Report 1-9-10

George Thurtle — Sat, 09 Jan 2010 16:37:42 +0000

Well it has begun. The Notice of Trustee Sales are up. Not a whole lot but I think the trend we discussed of lenders finally getting their foreclosure process in order to deal with the new requirements of contacting the borrower prior to any sale seem to be getting in place. You will see there was hardly any foreclosed inventory due to the Christmas and New Year Holiday occuring on Friday. The traditional days for the Trustee sales to occur. Expect to see these numbers pick up later in the month. I think by the first week in February we will see this play out and get a good idea of the overall distressed inventory trend for the Bellevue Home Market.

Click here for the spreadsheet link: Bellevue Foreclosure Report 1-9-10

Weekly Scorecard 1-4-10

George Thurtle — Tue, 05 Jan 2010 03:16:09 +0000

Here is the first report of the new year and new decade. On the surface it looks like a big drop in inventory but I would say it is not what it appears to be. A lot of listings are set to expire year end; I know I had six; so it is hard to make any trend of the inventory number. A more accurate trend will probably not appear until the end of January as these homes get relisted. The big news which the spreadsheet does not show is the ramping up of new construction sales that are not forclosures. In MLS Area 500 4 of the 5 pe ndings were new construction. While there was pressure on the pricing these were not bank homes or short sales. Camwest had homes sell in both South Bellevue, West Bellevue and East Bellevue. Eric Campbell at Camwest has always done infill and been very price sensitive and I think he is going to have a good spring sales season if interest rates remain stable. In West Bellevue the numbers look low for the prices but that is because half of the sales were for tear downs. It appears with the depletion of the new construction inventory thatthe building cycle is starting again. In the upper end no one is going to build speculative homes so it is presale or custom homes if the buyer wants a new home. Don’t expect to go out in the market anymore and find nuch suitable with the new construction inventory most of it is left overs.

The spreadsheet link is here: Weekly scorecard 1-4-10

Distressed Inventory Report 1-2-10

George Thurtle — Sun, 03 Jan 2010 22:48:14 +0000

As we discussed last week things are pretty much in a holding pattern. Trustee Sales will not start occurring again until this Friday, January 8^th, so you will probably see the number of foreclosed homes drift down for the next two or three weeks. Remember it takes two to three weeks for the Trustee’s Deed to record and get in this report. That is why in some areas you are seeing the amount of overall distressed inventory going down but the NTS/ Foreclosure ratio is edging up. That is because there is not much new foreclosed inventory coming on. I expect you will start seeing the amount of foreclosed inventory edging up by the end of the month as the Trustee Deeds are recorded for the sales which resume this Friday. The big issue is if sales will pick up enough to offset the anticipated new foreclosed inventory.

Here is the link for the spreadsheet: Bellevue Foreclosure Report 1-2-10

Weekly Scorecard 12-28-09

George Thurtle — Tue, 29 Dec 2009 01:01:49 +0000

Here is the report for the Weekly Scorecard from the “Nothern International Office” of East Bellevue Real Estate. Overall the same trends continue declining inventories, soft pricing and homes priced at or below the market are seeing multiple offers and sale prices over the list price. The sales volume is good for this time of year. Sellers seem more willing to accept the market realities and list closer to where the buyers think the market is at. As a result we see increasing sales volumes, declining inventory and flat pricing. However it appears if the seller is willing to list at the market price a number of buyers are willing to make offers.

The big issue is to see what happens the first part of the year and how the new Washington State Foreclosure Laws will affect the amount of bank owned inventory.

Here is the link for the spreadsheet: Bellevue Weekly Scorecard 12-28-09

Distressed Inventory Report 12-26-09

George Thurtle — Sun, 27 Dec 2009 17:54:26 +0000

This weeks Distressed Inventory Report will be a bit of a cut and paste job since I forgot to get the files from my computer at home. I am enjoying a little skiing and winter activity for this week. However I did do some cutting and pasting and did put last week’s numbers with this week’s numbers along with the numbers for October 17^th for contrast. You can see the trend of the foreclosures peaking last week. However in October you can see lower inventories but the NTS/Foreclosed ratio was much higher showing an accurate predictor of increasing distressed inventory.

However the next four weeks will be critical. The numbers for foreclosed homes lag by two to three weeks for foreclosed homes since the service I use only shows the foreclosures after the Trustee Deed’s records. That can take two to three weeks from the time the Trustee sale actually occurs. The reason this is important is that the Trustee sales occur on Friday. This last Friday and this coming Friday there were no Trustee sales due to the Christmas and New Years holidays occurring on Fridays. The result will be that you will probably see the number of foreclosed homes going down in the first part of January and then a spike in the first part of February. However in the immediate term it looks like the amount of distressed inventory is in a “trading range”. Sales remain robust and it needs to be seen next year if the rate of sales can keep pace with the rate of foreclosures.

Click here for the spreadsheet: Bellevue Foreclosure Report 12-26-09