Spokane County Foreclosures Decreasing

By
Real Estate Agent with Five Star Spokane Group, Keller Williams Realty 2994

Spokane County has seen a decrease in Spokane Foreclosure Home sales compared to 2011.  By mid-October of last year, 729 Spokane Foreclosures (Bank-Owned Homes) had sold at a median sales price of $104,909 and an average 56 days on market.  Compare that to 2012 numbers of  572 Spokane Foreclosures sold, which is a 21.5% decrease year-over-year.   The majority of Spokane Foreclosure sales in 2012 are from Fannie Mae, Freddie Mac, and HUD.  To view their current inventory, visit <a href="http://www.hudhomestore.com/" target="_blank" title="Spokane HUD Homes">www.HUDhomestore.com</a> (HUD), <a href="http://www.homepath.com/" target="_blank" title="Spokane Fannie Mae Foreclosures">www.homepath.com</a> (Fannie Mae) and <a href="http://www.homesteps.com/" target="_blank" title="Spokane Freddie Mac Foreclosures">www.homesteps.com</a> (Freddie Mac).

In 2012, the price range of sold Spokane Foreclosures has varied from $13,000 to $925,000.  There are  155 Spokane Foreclosures currently for sale at a median sales price of $116,000.  Of those 155 Spokane Foreclosures currently for sale, 85 are pending.  That gives us a 55% pending ratio which shows a significantly higher demand for foreclosures, compared to traditional properties.  Because over half of the foreclosures on the market have accepted offers, Spokane home buyers need to work with a real estate team with experience in foreclosures to help them ensure the best opportunity to get in on these
good deals. 

<a href="http://www.fivestarspokane.com/wp-content/uploads/2012/10/Spokane-Foreclosures-2010-2012.jpg"><img alt="" class="aligncenter size-full wp-image-929" height="344" src="http://www.fivestarspokane.com/wp-content/uploads/2012/10/Spokane-Foreclosures-2010-2012.jpg" title="Spokane Foreclosures 2010-2012" width="584" /></a>
 
Five Star Spokane Group has been organizing Spokane Foreclosure Tours (<a href="http://www.spokaneforeclosuretours.com/" target="_blank" title="Spokane Foreclosure Tours">www.SpokaneForeclosureTours.com</a>) for 2 years.  This is a free community service for those interested in learning more about Spokane Foreclosures.  It allows the Five Star Spokane Group to educate potential Spokane home buyers on the inner workings of buying a Spokane Foreclosure.  Potential Spokane Foreclosure Buyers will also learn how to find accurate data on all upcoming Spokane Foreclosures and how to determine what makes a Spokane foreclosure a great deal, and what red flags to look for in the foreclosure-buying process.  The Spokane Foreclosure Tour takes place on Saturdays between 10AM-12PM in a relaxed and casual atmosphere, viewing a mix of the best-valued Spokane Foreclosures currently for sale. The tour takes place in a caravan format and typically focuses on one market area (South Hill, Northside, Spokane Valley etc..) to limit the amount of driving between foreclosures. Visit <a href="http://www.spokaneforeclosuretours.com/">www.SpokaneForeclosureTours.com</a> to be notified of upcoming Spokane Foreclosure Tours.

If you are interested in receiving a daily email of all new Spokane Foreclosure homes for sale, please sign up at <a href="http://www.fivestarspokane.com/find-a-home/foreclosure-homes-in-spokane/" title="Daily List of Spokane Foreclosures">www.FiveStarSpokane.com</a>. It’s free and accurate information!!

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