This blog post from the Seattle Bubble Blog is quite informative about the most recent foreclosure assessment for the Seattle area. Perhaps we are starting to see the second waive of foreclosures?
Though I’m sure we will eventually turn this market around, it seems to be clear that we are in it for the long haul. It does not help with the recent news that Colliers closed its offices in Tacoma, and GVA Kidder Mathews intends to drop its affiliation with GVA (national brand/presence) in the coming months.
One can’t help but wonder whether or not the days of consistent 6–9% annual home appreciation are gone…at least for the foreseeable future.