Seattle Foreclosures Up 23 Percent in the Second Quarter Of 2008

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Hardest hit city was Tacoma with 464 Notice of Trustee Sales.

Default Research (, the premier provider of Seattle foreclosure data, is reporting that King, Pierce and Snohomish counties saw Notice of Trustee Sales increase to 3,379 in the second quarter of 2008, up from 2,743 in the first quarter. The three hardest hit cities in the region were Tacoma (464), Seattle (412), and Puyallap (191).

"There are a few markets in this tough economy that continue to be solid areas to invest, and Seattle is one," said Serdar Bankaci, founder of Default Research. "Key market indicators are positive with a marginal increase in median home sale prices and a decline in inventories in the past month. If I had a choice of national regions in which to invest, this would be it."

Bankaci points out that in the Riverside and San Bernardino area of Southern California foreclosure rates per household are close to 10 percent. The Seattle area, in comparison, is a great place in which to invest as the foreclosure rates in the major counties are King (.58 percent), Pierce (1.39 percent) and Snohomish (.87 percent).

"The best strategy to put profit in your pocket is to buy properties in the Seattle area at reduced rates and then rent immediately," said Bankaci, whose foreclosure lists arrive two three weeks ahead of the competition. "Additionally, there are great retail and commercial properties available in the preforeclosure market. Default Research is our clients key to this information as well as the residential information."

Below is a unique and accurate local look at how the Default Research foreclosure statistics (June 08) affect your area:

King County - Hardest hit cities are Seattle (147), Federal Way (49), Kent (47), Auburn (37) and Renton (31)

Pierce County - Hardest hit cities are Tacoma (151), Puyallup (51), Spanaway (38), Gig Harbor (20) and Lakewood (18)

Snohomish County - Hardest hit cities are Everett (63), Lynwood (33), Marysville (29), Snohomish (22) and Lake Stevens (18)

Default Research provides Seattle foreclosure listings, reporting Trustee Sales Notices mere days after being recorded. The foreclosure statistics are a count of the number of Notice of Trustee Sales filed. Properties are counted once in a 12 month period. More information about Default Research can be found at its Web site: For more detailed Washington State foreclosure statistics listed by county, please visit


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Serdar Bankaci
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