Weitz Commercial - 150 Lake Street S; Ste 216 - Kirkland, WA - (206) 306-4034

Friday, April 16, 2010

Seattle/ National Foreclosure Update - April, 2010

A recent report from CNBC 'Realty Check'. For those not familiar, Diana Olick is own of the most well informed, unbiased sources for real estate information. I highly recommend her website www.realtycheck.cnbc.com.

An overview of updated stats:

1) Home builder sentiment rises in April 2010....however.....
2) Foreclosures notices spiked 19% in a month and up 8% year over year.
3) The report estimates that an estimated 3 to 4 million distressed homes that will be put onto the resale market in the next couple years either via short sale or bank owned inventory.

Weitz: My personal belief is that the number of distressed sales both in Seattle and across the country will spike fairly dramatically over the next 6-12 months as the home buyer tax credit expires and foreclosures continue to increase.

If you're a buyer, consider buying a bank owned or foreclosure property (Bank owned is preferable in my opinion as you would have the ability to thoroughly inspect and negotiate with the banks).

If you're a seller looking at your rights, check out the 'search' feature of the blog. There is some useful information regarding the foreclosure process and short sales throughout the blog.

For more information, consider contacting a Seattle Foreclosure Attorney.

Our Firm:

Weitz Law Firm, PLLC
5400 Carillon Point
Kirkland, WA 98033
(425) 889-9300