Washington Foreclosure Homes Rate Dropped to 23rd Spot
July 4th, 2007 by 
Joseph Smith
Real estate investing is very tricky. Buyers and investors should always consider the real estate market condition before making any decisions regarding the sale or purchase of a particular property. For example, the large inventory of Washington foreclosure homes may cause some concern for buyers like you because of the probable effect on home prices. But its foreclosures rate for the month of May will make you think other wise.
The state dropped from the 20th spot in April and is now ranked as the 23rd state with the highest foreclosures rate. For buyers and investors, this could be a good sign that Washington is slowly recovering from the effects of the high number of subprime loan delinquencies.
Aside from the support given by the state government to educate local residents about foreclosures, lenders are also offering a helping hand and working with these owners to stop foreclosures. Comparing it to last year, the state recorded a very small 7.20 percent foreclosures activity increase. Right now, the thousands of foreclosure homes in Washington for sale, especially those offered by Foreclosure Deals, are definitely generating much buyer’s interest.
In the city of Kent, near the Seattle metropolitan area, market trend was observed to be increasing brought about by good economic news. Across the state, the trend is almost the same. There is almost a health balance of sellers and buyers in many cities and both are taking advantage of the good real estate market condition.
Buyers are definitely enjoying the wide selection of Washington foreclosure homes. Many are attracted to single family homes located in quiet residential neighborhoods. Although home prices in most cities have increased by almost 25 percent since last year, these buyers will still manage to save much when buying these foreclosure homes. Meanwhile, sellers are enjoying the fact that they are receiving up to 100 percent of their asking prices as well as multiple offers.
