Summer Brings Sales - In Foreclosures II

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

Summer Brings Sales - In Foreclosures II

As Summer heats up, we find that the sales are heating up as well.  Though there were only ten foreclosure sales noted Foreclosure salesin the  newspaper (TNT) this week the number jumped up to twenty-one!

These were split almost evenly between next Friday, July 12th and four weeks out on August 2nd. Next week had a couple extra, with a total of eleven sales scheduled.  Next month's first sales were showing nine scheduled.  The other two were evenly split between two weeks out on July 19th, and five weeks out on August 9th.  As is normal, these sales will take place on the 2nd floor plaza of the County-City building at 10 am.

I would expect the next couple of weeks to continue to show similar numbers, as I keep seeing, and hearing about how many foreclosures are still hanging on the books out here, and I would think the banks would want to take advantage of good summer weather and tight listings count to try to get more money from their foreclosures. 



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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 |

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Comments (6)

Than Maynard
Coldwell Banker Heart of Oklahoma - Purcell, OK
Broker - Licensed to List & Sell - 405-990-8862

The market is heating up, so a few are pushing forward with foreclosures they had let sit. Maybe trying to work a deal with the current owners, but once the market starts up the foreclosure companies get harder to deal with.

Jul 05, 2013 06:55 AM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Than -- and with some of the values around here going up 15% or so (though some have apparently stagnated) they may think they will finally get enough out of the sale to make it worth while.

Jul 05, 2013 07:24 AM
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

I don't see this in my area.  Most vacant homes are on the market

Jul 06, 2013 12:35 AM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

William -- glad to hear that things are doing so well there in MN.

Jul 06, 2013 02:53 AM
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Steven, I agree that this would be the time for banks to start to gently add to our inventory. 

Jul 07, 2013 10:16 PM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Pat -- any addition to the housing supply has to be done carefully, or it will probably negatively impact the housing recovery.

Jul 08, 2013 03:25 AM