Spring Brings Sales - In Foreclosures - VI
Another Friday, and time for the weekly report on the legal notices about the upcoming foreclosure auctions in the Pierce County area.
As those who have been following this for a bit know, about two months ago there was a spike in listings with 40 one week, since then the numbers have been going down and up, but mostly down.
Today's TNT legal notices showed only 4 (four) listings for upcoming foreclosure auction sales at the County Building. All four were fore sale date of June 28th -- so they were getting out their one month notices.
Perhaps with the rising values for real estate, the banks are moving to do their sales differently at this point. They may be processing more as short sales before getting tied into doing foreclosure sale.
At the same time, with the volatility of the mortage rates at this time, they may find that may not be as lucrative as they thought due to the long turn times most short sales have, and that some of the potential buyers may decide to go with something they can get right away - during their lock period.
How are things going in your locale?