Spring Brings Sales - In Foreclosures - V

By
Industry Observer with No Longer Processing Mortgages. MLO #293441 expired

Spring Brings Sales - In Foreclosures - V

This week we find a drop down to only seven (7) foreclosures in the legal notices of the local paper (TNT).  This is down from last week's total of sixteen.  

What is interesting about this week's listings is that contrary to last couple times when most of the listings were for immediate (next Friday) sales, this time only about half were set for next Friday, with the other half set for June 21st.

At the same time we are reading that CoreLogic shows more homes in Washington (2.34%), and Tacoma specifically (3.81%) being in some stage of foreclosures in March of this year than in March of last year.   There was some good news in that the mortgage deliquency rate for those behind 90 days or more dropped .23% during that same time, though it is still over 9%.

Posted by

 

Steven CookSteven T Cook
Loan Officer, MLO-293441      

Cascade Pacific Home Loans  NMLS ID 76988
720 S 333rd St  Federal Way  WA  98003
Office 253-874-1111 | Cell 253-677-1064
Toll Free 1-800-874-8760 | fax 253-295-3901
scook@cphloans.com | www.bayeq.com

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Comments (13)

Rene Fabre
First American Title - Seattle, WA
Marketing in the Digital Age

Hi Steven... It's ironic how our market has fragmented in a sense... by that I mean certain aspects are picking up, still others are lagging. We still have a segment of the workforce (homeowners) here in the Northwest that have been displaced and life financially is definitely a challenge. Yet, I see too that mortgage payment delinquencies have dropped, and glory be that's good news! Overall I see the South Sound significanlty improving. It might be a little slower than some areas, but I think that means a longer steady rise with less dips along the way. Pierce County, Thurston County, Kittsap County, some of the most wonderful places to live in Washington State are recovering... Like you, I remain very optimistic. 

 

May 24, 2013 11:19 AM
Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

The numbers are all over the place and it makes it hard to find the trend. Sometimes, you have to go micro other times macro.

May 25, 2013 03:52 AM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Rene -- I too am hoping that a slow recovery here will mean less "bubble" and less hardship down the road.  Blessings to you on this holiday weekend!

Than -- as always in real estate the truth is found in "location, location, location" - as the numbers will be different in varied locations - and will respond differently to the various programs that are happening.

Hope you are having a great holiday weekend!

May 25, 2013 04:14 PM
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Steven, ours are down a lot too. My husband used to tell me how many PAGES of foreclosures there were in the paper each week.

May 26, 2013 07:14 AM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Connie -- my fear is that there is a large backlog here in this area that still have to be resolved.   Not sure if putting them all out in one month or stringing them out all year is really better for the system.

May 28, 2013 03:16 AM
Alan Kirkpatrick
Austin Texas Homes - Round Rock, TX
Alan in Austin

Steven: Nice post it is very interesting to see what is happening around the country. 

May 28, 2013 07:04 AM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Alan -- I was talking to someone from your fair city on Sunday, while on a ferry, as she was heading to the airport to get back home.   Thanks for stopping by and commenting.

May 28, 2013 08:47 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Foreclosures are way down in my area.  In fact, if someone calls looking for one it may be hard to find right now.

May 28, 2013 02:05 PM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

William -- that is great to hear, as it means you will be having valuations that are more solid than those in areas with lots of foreclosures, with values all over the map.

May 29, 2013 02:35 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Steven, Foreclosures are down here and sales are up...I'll take that any day! The best to you in your market!

May 29, 2013 03:11 AM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Wanda -- thanks for the information from your area, glad to hear it.   And thanks for stopping by and commenting.   Have a great rest of this week!

May 29, 2013 04:13 AM
Clint Mckie
Desert Sun Home, commercial Inspections - Carlsbad, NM
Desert Sun Home, Comm. Inspection 1-575-706-5586

Hi Steven,

I have been trying to get to your posts for a while. But as you probably know I have been really busy with inspections. it's finding the time to get to everyone who comment's on my posts that is a really big challenge.

I did add you as an associate.I hope you don't mind.

Have a great day in Tacoma, Washington.

Best, Clint McKie

May 30, 2013 08:15 AM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Clint -- thank you for stopping by, as I have seen how busy you have been lately.  I greatly appreciate your adding me as an associate.  Blessings on the rest of this busy week!

May 30, 2013 08:47 AM

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