Foreclosure Uptick for Snohomish and Pierce County in November[break]Yesterday we looked at the foreclosure inventory spike for King County coming through our data feed. It appears the uptick is consistent across all three counties, albeit less pronounced in both Snohomish and Pierce County. First up Snohomish County – with a scheduled foreclosure volume of 395 for November and an average weekly volume of 79. Despite the extra foreclosure auction week in November, these numbers are still about 8% higher than the average weekly volume for September and are likely to rise further as inventory is pushed into the later months.
Pierce County, with 359 properties scheduled for auction in November, had an average weekly inventory of 72 for the month – over 16% higher than the average weekly volume for September (the next highest month). This final graphic also clearly shows the consistency of the pattern across the three counties even when adjusting for the extra week of auction contained in November. Real estate investors in the Tri-County area should take note of the bump in volume during what is traditionally a lull period for the retail real estate market. Specialty lenders, like Liberty Capital can provide the financing to savvy real estate investors who are on the ball during the holiday season.
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