Summer Brings Sales - In Foreclosures IV

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

Summer Brings Sales - In Foreclosures IV

As Summer heats up, we find that the sales are heating up as well.  There were twenty-one (21) foreclosure sales noted Foreclosure saleslast week in the  newspaper (TNT),  this week the number climbed to twenty-three (counting the one in yesterday's paper, that makes twenty-four for the week)!

These were split over four different dates. Four weeks out on August 9th had the most with nearly half -- eleven. Next week had six more.   There were also two noted for two weeks from now, and anther four for five weeks out on August 16th.  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. 

 

 

Picture courtesy of Freedigitalphotos.net

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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
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Toll Free 1-800-874-8760 | fax 253-295-3901
scook@cphloans.com | www.bayeq.com

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Comments (9)

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Steven:  Some pretty amazing stats reported here.  I just got done reading that foreclosures have dropped as a whole across the US .. and that that type of transaction is waning.  Good news ... and finally!  Time will tell if that ends-up true ..

Hope biz is good for you and you're enjoying your summer ...

Gene

Jul 12, 2013 07:19 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Steven, good local information here for buyers in your area.  I wish I could say that foreclosures were slowing down here, but I am still doing a number of loans on foreclosed properties.

Jul 12, 2013 08:00 AM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

George -- this is the second highest number to appear in the last several months.  Glad to hear you are keeping busy! 

Hope you and yours have a great weekend!

Jul 12, 2013 08:09 AM
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Foreclosures are way down in our area and the market is hot hot hot.

Jul 12, 2013 08:35 AM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Barbara-Jo -- is it only the market that is hot there?  Our weather has been cooling off during week, and getting hot on weekends.   Glad your area has cleared most of their foreclosures so you can work on full value homes again.  I imagine those values are climbing again too.

Jul 12, 2013 08:42 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Interesting, Steven.  There are so many different opinions and forecasts about foreclosures that are floating around.  But the proof is in the actual numbers.

Jul 12, 2013 09:51 PM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Gabe -- it is another reminder that everything about real estate is local -- and when people start forgetting that they can say something that looks right, where they are, and look totally wrong somewhere else.   Thanks for adding me as an associate!   Hope you are having a fantastic weekend!

Jul 13, 2013 04:11 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Hi Steven, so true that real estate is local...we do not have many in our area but state wide there's a lot.

Jul 15, 2013 04:08 AM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Rebecca -- thanks for stopping by and commenting.  Your note shows how true the Local issue is in real estate.

Jul 15, 2013 04:20 AM