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Here is the latest short sale news at Seattle Short Sales. We assist hundreds of Seattle area homeowners with short selling their home and avoiding foreclosure.

Foreclosures Dropping Nationwide - But Washington State Has Become New “Foreclosure Hot-Spot”

- Friday, March 15, 2013

Foreclosure are dropping nationwide, reports RealtorMag this week - but the news is not so good for Washington State. RealtorMag calls Washington one of the “new foreclosue hot-spots,” as it moved up to being the state with the fifth-highest foreclosure rate.

Florida and Nevada still top the list (with Illinois and Ohio in third and fourth place) but Washington has now overtaken Arizona, which has the sixth-highest foreclosure rate, and is far ahead of California, which dropped off the top-ten list for the first time since 2006.

RealtyTrac has published a map that shows the foreclosure rate in each state for February 2013. In Washington, one in every 656 housing units received a foreclosure filing in February (for a total of 4,362 foreclosure properties). This compares to the high rate in Florida, of one in every 282 properties, and to the lower rates in other northwestern states (Oregon, one in every 1,752 properties; Idaho, one in every 1,101 properties; and Montana, a very low one in every 10,864 properties).

RealtorMag quotes RealtyTrac vice president Daren Blomquist as saying that many of these foreclosure starts “will likely end up as bank repossessions or short sales later this year.”

Seattle Short Sales has a team of experienced and successful real estate specialists dedicated to working with distressed homeowners. We close, on average, 12% of all short sales per month in King County. In the last 24 months, we have negotiated over 756 short sale approvals, and discounted over $81 million of mortgage debt for distressed homeowners.

In addition to our short sales negotiators, our team includes dedicated professionals advising and advocating for homeowners in the fields of: loan modifications, bankruptcy, debt settlement and collection defense. As part of our service, we offer unlimited attorney and CPA consultations.

If you are a homeowner who is struggling to make ends meet, and would like to learn more about the options available to you, please go to: 

You can also contact Lambros Politis on Google+ or to find more up to date information on this subject, go to the Ark Law Group Blog. 


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