The good folks over at KCM Blog have recently published this graphic which shows the Nationwide State-by-State comparison of the percentage of short sales to overall sales.
Nice to see that Washington State is under the 10% mark. From my perspective as a local real estate broker, it sure seems like the percentage of short sale properties are much higher than that. But I’ll trust RealtyTrac for their accuracy. It would appear that the number of short sales and foreclosures are slowly decreasing in our market. Since our shadow inventory is considerably less than other States, we should hopefully start to see our overall home valuations starting to improve slightly (1% to 2% over the next year).
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Rich Jacobson is a licensed real estate professional with Keller Williams West Sound, providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com, ActiveRain, and Crabbing in the Hood.
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