Summer Brings Sales - In Foreclosures IX

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

Summer Brings Sales - In Foreclosures IX

As summer continues warm, we find that the foreclosure sales in Pierce County are holding steady at this time.  There were eighteen (18) foreclosure sales found last week in Gavelthe Tacoma newspaper (TNT),  but there were twenty-one (21) found this week.

Like last week which was split over four dates this weekalso had four dates. Next week had the next most with 17 (nearly as many as all four last week.) The other four were split as follows: two weeks out on Aug. 30th - one, four weeks out on Sept. 13 there was one, which left the other two for five weeks out, on Sept. 20.  As is normal, these sales will take place on the 2nd floor plaza of the County-City building at 10 am.

It looks very much like there is a bulge hitting which may then taper off as fall gets here. Though I keep seeing, and hearing about how many foreclosures still hanging on the books out here (and really popping out of the woodwork in some other areas of the country), it would seem the banks here are taking advantage of good summer weather and tight listings count to try to get more money from their foreclosures. 

As already noted the numbers may not stay high far into the fall, before they start dropping off to a much lower level (thinking in range of 3-5 week). Which may hit sooner than I thought, based on the 4-5 week notices this time around.

 

 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
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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