Prices rising with low inventory in Western Washington

By
Real Estate Agent with PRSI Choice Gallery Homes 24332

I thought you might be interested in what our real estate market is like here in the NWMLS area:

6,000+ closed sales in the month of October, with 86% of them from the sale of single family homes.

 

http://nwmls.com/discover/nwreporter.cfm?SectionListsID=25

 

At the courthouse auctions, there’s been people from hedge funds companies bidding on properties and buying them up to 90 cents on the dollar!

 

Is this temporary? I also received my first REO listing since earlier this year. Very interesting. Is that "shadow inventory" coming in Spring, 2013?

 

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Rainer
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Cyndi Carver

Newcastle & East Renton Specialist
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