Summer Brings Sales - In Foreclosures VI

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

Summer Brings Sales - In Foreclosures VI

As summer continues warm, we find that the sales are heating up as well.  There were thirty (30) foreclosure sales found Briefcasethis week in the Tacoma newspaper (TNT),  which is up nearly double to last week’s sixteen.

These were split over four dates  (in comparison to last week's two). Four weeks out on August 23th had the most with nearly two-thirds of the total  - nineteen. Next week had the next most with 8.   There were also two listings for two weeks out on August 9th.  The final note was for one that is five weeks out on August 30th.  As is normal, these sales will take place on the 2nd floor plaza of the County-City building at 10 am.

It looks like the next couple of weeks will 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. 

It will also be interesting to see how far into the fall these numbers will be sustained, before they start dropping off again to a much lower level (thinking in range of 4-5 week).

 

 Picture courtesy of Freedigitalphotos.net

 

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 (2)

Clint Mckie
Desert Sun Home, commercial Inspections - Carlsbad, NM
Desert Sun Home, Comm. Inspection 1-575-706-5586

Hi Steven,

Where are all your followers at? good post, but I hate to see sales that involve a courthouse in the mix.

Have a good day in Federal Way, Washington.

Best, Clint McKie

Jul 26, 2013 11:40 PM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Clint -- not sure where they are hiding, maybe vacations.  Unfortunately these sales are going that way.  Hope you have a great weekend there in Carlsbad!

Jul 27, 2013 01:43 AM