Kitsap Real Estate Blog

Our Saturday Foreclosure Tour returns to Bremerton-Silverdale this Saturday. It has been a couple of weeks since we covered that area and some very interesting things have happened since.

The five properties that we had on the tour were chosen because our poll of area real estate agents had indicated that they were special values based upon their listing price. And guess what? Every one of those properties has gone under contract.

And, the inventory of foreclosure properties has been reduced by quite a bit. Maybe the government is serious about the first time home buyer tax credit deadline of April 30? Could be. It seems that a lot of buyers are taking it seriously because as of Friday morning the inventory of foreclosed properties in the Bremerton area was 20 homes. But, the number of properties that had gone pending was 31. Normally, the ratio of active to pendings is more like 5 or 10 to one. In normal markets this would signal a probable rise in prices. Of course, this is what we saw before last year when the first tax credit deadline approached.

To quench the fire of your statistical inquiry even further just a couple of weeks ago the total inventory of foreclosed homes in Kitsap real estate was exactly 100. The inventory today is only 83. Hmmmm. What could that mean?

This is the type of real time information and insight that you need to make successful foreclosure purchases.

If you have a friend that could use this information and help please forward this message to them. They can register for the tour by visiting Kitsap and Gig Harbor Foreclosure Tours.