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by Jace Stolfo
on Thursday, December 13th, 2012 at 9:20am.
Over the year Boise bank-owned homes have dropped rather significantly, especially when compared to Q1 numbers. During the first three months of the year the average amount of sales for bank-owned homes in Boise was 74. Numbers for this type of distressed dropped by a large margin for Q2 and Q3, 44 and 26.3 respectively. The chart below shows the exact amount of Boise bank-foreclosures sold each month this year. November 2012 numbers are similar to the Q3 average.
The chart also points out 2011 numbers. Clearly, Boise bank-owned homes have dropped off significantly when compared to one year ago. Since April, in comparison to 2011, there's been more than a 50% drop in 2012 numbers. More closely, the average amount of REO sales (through November) for 2011 was 95.1. This year the average is 45.5. Charter Pointe subdivision has had the most REO and HUD properties sold this year in the Boise real estate market. They've had 23 so far. Fox Meadows currently has the second highest total with 10.
In comparison to Boise bank-owned homes, short sales have remained relatively steady throughout the year. There was a spike in March, however, numbers have leveled-off since then. Also interesting to note, numbers for November 2012 are smaller than they were in January, creating a downward trend. While 2011 numbers were also steady, they were also more on an upward trend. In January 2011 there were 33 short sales, but numbers climbed to 59 by November.