Finn Hill home values- comparing short sales, foreclosures and traditional sales for 2011 Curious as to what real estate values are in the Finn Hill area?
Here are two graphs that show a picture of what’s going on in your community with a side-by-side comparison between short sales, foreclosure, and traditional sales (“non-distressed”) home values.
Traditional sales (non-distressed) over short sale values fetched 24.66% higher values, and 33.57% compared to foreclosures.
Short sales out performed foreclosure when it comes to retaining a higher sale price by an average of 13.4%. Looks like Banks are leaving money at the table. It’s in the Banks best interest to approve a short sale and avoid foreclosure just by seeing and knowing these numbers.
On the other hand, foreclosures don’t have such a high swing in value difference when comparing original list price to sold price. They absorb a 2.26% loss, were traditional sales come in at 4.45% and short sales take the biggest price drop coming in at 13.36%.
Finn Hill Market Sales Report -2011 (Original Price vs. Sold Price)
Finn Hill Market Sales Report -2011 (High, Low, Median Values)
Finn Hill is one of the more stable real estate markets in the Eastside (next to Seattle). Values are lower than 2010, but as a whole... they are holding fast.
Check out our other post comparing various cities on the eastside.
*** Information Deemed Reliable But Cannot Be Guranteed. Courtesy of NWMLS***