Seattle Homes For Sale

Investors Moving Foreclosures Faster Than Banks Along West Coast

2011-06-16T13:35:00Z

BY:Carrie Bay Third-party investors are reselling foreclosure properties they’ve scooped up at auction at a rapid pace in states along the country’s Western seaboard. In fact, they’re moving distressed homes faster than lenders, according to a local tracking firm. Washington saw a similar divergence, though its investor timeline was the longest of all five states. There, investors are able to turn around and sell foreclosure properties in 164 days on average, versus 212 days for...(read more)

Seattle Foreclosed Homes: Getting Your Money's Worth

2010-08-27T23:11:00Z

Seattle Foreclosed Homes: Getting Your Money's Worth

Author: Joseph B. Smith

Seattle foreclosed homes are probably one of the best ones that you will get from the foreclosures market. Aside from the huge discounts that you can easily make off with your purchase, there are also many other financial opportunities waiting for you in this market. Choosing the type of property is not difficult with many good choices and variety of foreclosed homes that you can buy from Seattle foreclosures. Just keep in mind the following tips to ensure that your investment is well-protected.

Visit The Property

A property inspection is imperative in the real estate market. You do not want to be lured into buying a house just because it looked good on the picture. There are a lot of other things that you need to consider when buying aside from its facade. You need to know whether it is located in a neighborhood in which you think you would want to live and among people you would want to be neighbors with. You would need to know the condition and feel of the house, what repairs are needed to make it habitable, whether the door, windows and other features are located and placed in such a way that you could deal with them. All these will be addressed by a thorough property inspection.

Conduct A Full Title Search

As much as there are a lot of great buys that you can find in Seattle foreclosed homes, never forget to conduct a full title search to verify the property title. It is important to know that you are not buying a foreclosed home with any outstanding lien, tax obligation, judgment or any other debt attached to it. This could unreasonably increase the cost of purchasing the property for you and could very well defeat your purpose in choosing foreclosures over newly-built homes.

Work With Professionals

The real estate market is a maze of intricately connected issues that you need to address. These include legal, tax and other technical issues that you need to know to avoid any future problems that may arise from any of your transaction. If you are buying Seattle foreclosed homes, work only with qualified agents and professionals who can truly help you throughout the entire buying process. Hire or consult a lawyer to about the legal issues that you need to know before you buy any property.

Article Source: http://www.articlesbase.com/real-estate-articles/seattle-foreclosed-homes-getting-your-moneys-worth-3136253.html

About the AuthorJoseph B. Smith has been educating buyers on the finer points of Seattle foreclosed homes at Foreclosure-Support.com for over five years. Click here to visit and read more advice on finding Washington foreclosed homes.

Visit http://seattleforeclosuregroups.com

2 Story 5 bedroom For Sale in Meadowdale

2010-06-30T08:44:00Z

5 bedroom home

• 2,114 sq. ft., 2 bath, 5 bdrm 2 story split - $296,000 - Under 300K

Meadowdale, Lynnwood - Lots of upgrades in this 5 bedroom home, new carpets, new windows, fresh paint, newer kitchen with eating area. Enjoy 2 fireplaces in living and family room, great hardwood floors on upper level. Huge fenced backyard with playground and plenty of room for playing or gardening. Great Meadowdale neighborhood walk to schools and parks, near all amenities and freeways. Located at the end of a quiet cul-de-sac a must see.

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Taking Advantage of the Surge in Seattle Foreclosures

2010-06-18T14:05:00Z

Investors and owner occupant buyers are taking advantage of the surge in Seattle foreclosures.

Seattle, the home of Microsoft and Boeing, was largely insulated when the housing crisis hit in 2008 and 2009 because of its vaunted economic strength. But as the economic crisis deepened, unemployment crept into the city and caused a surge of bankruptcy houses and foreclosure homes for sale.

The increase in foreclosures can be reflected in the number of people gathering outside the King County office building in Seattle every Friday. Investors, owner occupant buyers and observers gather and see what bargains they can snap up during the bidding held by the trustees.

One company that has been winning bids for clients said the number of houses being auctioned off in King County has been rising over the past few months. It expected the number of units to double to about 800 units in June from around 400 units in May.

With the increase in Seattle foreclosures, investors can take advantage of the opportunity of buying lower-priced homes in the area. In normal times, most homes are priced above the half-million-dollar range. But as the number of distressed properties grows, foreclosed homes in the $350,000 range can now be seen.

On one online site, there is a two-bedroom home priced at $365,773, but the difficulties of the times even in high-cost neighborhoods are now highlighted as there are now a lot of foreclosures priced above $1 million.

Government foreclosures have also been rising in the Seattle metro area, as VA, Fannie Mae, Freddie Mac and HUD foreclosures continue to get added to real estate listings. As these agencies continue to grab a greater portion of the mortgage market, they also continue to get hit with a sharply rising number of defaults and foreclosures.

While in the past, new homes and existing homes dominated the Seattle market, now foreclosed houses have been accounting for the majority of homes for sale. One major online real estate seller has 2,267 Seattle foreclosures on its website.

Author Resource:-> Original Post: Taking Advantage of the Surge in Seattle Foreclosures on BankForeclosuresSale.com.

Article From Real Estate Pro Articles

Visit www.seattleforeclosuregroups.com/

Bidders Snap Up Foreclosed Homes for Sale in Seattle, WA

2010-05-30T14:10:00Z

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Bidders Snap Up Foreclosed Homes for Sale in Seattle, WA

By: John Cutts

Bidders continue to snap up foreclosed homes for sale in Seattle, WA as average prices continue to fall.

Outside one of the King County public buildings, groups of people gather every Friday to look at bargains they could buy, fix and resell at great profits. Those who are more experienced in foreclosure auctions have already performed their due diligence and have already determined which of the foreclosed properties for sale would be profitable for them.

Based on statements from foreclosure specialists in King County, where Seattle is located, the number of homes being auctioned off every week has spiked from about 150 units before the housing crisis to about 450 in the first months of this year.

While most of the 25 largest cities in the county have started recovering from the crisis, Seattle and two others are still experiencing surges in foreclosure activity.

Analysts contend that foreclosed homes for sale in Seattle, WA continue to rise in number while foreclosure filings slow down in other areas because the effects of the crisis on Seattle were delayed. Initially, Seattle was largely insulated from the crisis.

When the housing crisis hit, Seattle was able to hold up as the city has one of the strongest economies in the country. It hosts several of the largest employers in the nation.

But as the crisis persisted and spread out, residential and commercial foreclosures began to surge in Seattle and in other parts of King County. In April, a total of 1,282 foreclosure filings were posted in the county, accounting for 29.4 percent of the 4,365 foreclosures filed throughout the state. These numbers are in addition to the 3,439 Washington foreclosed homes posted in the first three months of this year.

With the median price for pre-owned single-family homes falling by 22 percent from the peak to $306,000 in March, bidders and other buyers are stepping up their efforts in looking for foreclosed homes for sale in Seattle, WA to buy.

Author Resource:-> Original Post: Bidders Snap Up Foreclosed Homes for Sale in Seattle, WA on Foreclosure-Support.com.

Article From Real Estate Pro Articles

Visit SeattleForeclosureGroups.com

3-Level Split For Sale in Queen Anne

2010-04-02T09:02:00Z

Walk to all the amenities of Queen Anne

• 2 bath, 3 bdrm 3-level split - MLS® $475,000 - Queen Anne

Queen Anne, Seattle - Prime sought after Queen Anne location. Walk to all the amenities of the Queen Anne community. New carpets, updated bathrooms, kitchen on the main floor and small kitchen downstairs with possible extra 4th bedroom, new roof, hardwood floors and a stand alone gas fireplace. Garage plus extra parking w/alley access. Pleasing private backyard with fruit trees and plenty of room to expand.

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3-Level Split For Sale in Cedarhurst

2010-03-26T05:41:00Z

New updated kitchen

• 1,780 sq. ft., 2 bath, 3 bdrm 3-level split "On three levels" - MLS® $329,950 - Lake View

Cedarhurst, Burien

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Single Story For Sale in Verdeaux Condominiums

2010-03-24T21:57:00Z

Brand new home wrapped in luxury

• 1,094 sq. ft., 2 bath, 2 bdrm single story - MLS® $279,950 - Furnished ask for details

Verdeaux Condominiums, Norway Hill - Verdeaux luxury condo in Bothell. Minutes to all amenities EZ commuting, 5 mins to UW of Bothell, Shopping, Dining, and Wineries and Northshore SD. Be amazed by 9' ceilings, open floor plan, slab granite and marble countertops, stainless steel appliances, gas cooking, large master w/walk in closet, huge private patio w/storage that faces protected greenbelt. New community offers garage, picnic tables, lawn, and tennis court. This condo comes furnished ask for details. FHA/VA

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What’s the outlook for foreclosure activity in 2010?

2010-02-21T20:00:00Z

New Decade Presents New Opportunities in Foreclosure Market

Posted By Paige On February 9, 2010 @ 4:48 pm In Consumer News and Advice, Home Buying 101, Real Estate, Today's Marketplace | Comments Disabled

RISMEDIA, February 10, 2010—In this month’s column, I’ll try to answer some of the most frequently asked questions about the foreclosure market.

Q: What’s the outlook for foreclosure activity in 2010?

A: It’s likely that we’ll set a new record in terms of overall foreclosure activity for the fourth consecutive year. Over 1.3 million U.S. households received a foreclosure notice in 2007; over 2.3 million received notices in 2008; and although the 2009 numbers haven’t been completely counted as this issue goes to press, there will be somewhere in the vicinity of 2.8 to 3 million households in foreclosure. We’re likely to see more than this in 2010, with the number of homeowners in foreclosure probably exceeding 3.5 million, before the trend begins to reverse itself sometime in 2011.

Q: Will we see a flood of REOs?

A: Investors, home buyers and real estate professionals have all been anxiously awaiting a tidal wave of REOs for the past two years. Instead, inventory levels have remained frustratingly low, even in some of the hardest-hit foreclosure markets. Expect more of the same in 2010.

What this means for buyers and sellers is that there will be limited availability of REOs, albeit at higher-than-normal levels. No flood, but a good chance that the trickle on the market today will grow to a more steady stream. While this makes it less likely that we’ll see a “double dip” in home prices, we also won’t see much price appreciation until these distressed assets are finally gobbled up. The most likely scenario is a long, relatively flat period of recovery in the housing market.

Q: Will there be a surge in short sales?

A: A big frustration for potential foreclosure buyers has been the difficulty in buying a property via short sale. Agents have questioned why banks reject a short sale offer 20% below the mortgage amount only to spend tens of thousands of dollars to foreclose on the home and then sell it as an REO at a 50% discount.

We’ll see an increase in the number of short sales if the Treasury Department has anything to say about it. Lenders participating in the Obama Administration’s loan modification program will be strongly encouraged to offer any homeowner who doesn’t meet the requirements for HAMP (Home Affordable Modification Program) a short sale opportunity as an alternative to foreclosure.

But short sales won’t be a panacea, either. In many cases, the presence of a second loan will make negotiating a short sale much more difficult; in other cases, the owner of the primary loan might foreclose on the home, wipe out the second loan, and sell the home, using the amount of the second loan as a “market discount” to move the property.

Q: What are the implications for real estate professionals?

A: Working with foreclosure properties will require diligence, persistence and patience. But there has never been a market with as much inventory to choose from, and the combination of deeply discounted pricing and historically low interest rates make many deals once-in-a-lifetime opportunities.

Whether you’re a buyer’s agent looking for investment properties or a listing agent looking for REO homes, 2010 marks the beginning of a decade of unprecedented opportunity. Let us know how we can help you succeed.

Rick Sharga is senior vice president at RealtyTrac. For more information, visit www.realtytrac.com ^[1].

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com ^[2].

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5 Reasons REO Properties are Great Deals

2010-02-21T18:53:00Z

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5 Reasons REO Properties are Great Deals

By: Heather Seitz

With REO properties flooding the market, is it time for you to add them to your real estate investing business?

The simple answer is yes! The fact is, REO properties make up the majority of "REAL DEALS" in this market and you need to be taking advantage of this great opportunity.

Here are 5 reasons REO properties are the way to go!

1. Bank Has Already Taken Loss First and foremost, if the property is an REO, then the bank has most likely already gone through a lengthy and expensive foreclosure process and hasn't seen a nickel on the properties for the last 1 to 2 years. Long story short, they have already conceded and taken the majority of the loss. Their main focus now is to simply get rid of the property as quick as possible.

2. Banks Make for BAD Landlords Banks also don't make for great landlords and have no intentions of being landlords. Banks make their money off loaning money; not own defaulted properties. For several reasons along with several federal regulations, the best thing for the banks to do is to get these properties off of the books and move on. This means deep discounts for you!

3. Property Chased the Market All the Way Down Also, it is very likely that the REO property "chased the market" all the way down to rock-bottom before the bank finally took possession. Now, they are competing with the rest of the properties on the market and need to discount the properties even more just to compete with the competition. Remember, they NEED to get rid of their REO inventory and get back to their main business of loaning money.

4. Low Value No Longer Means "Trashed" Property Use to be that the vast majority of REO properties on the market probably ended in a long, lengthy rehab. While rehabbing is a great option for many REO properties, it may not be for everyone. The good news is that many of the REOs coming on the market today are actually in great shape. That means you are getting a property at a rock-bottom price that doesn't need much work (or money) at all.

5. Less Time - More Deals Another great aspect regarding REO properties is that your start-to-finish time for your deals is cut in half. For many of the reasons listed above, negations are normally quick. The banks really have no emotion involved which can make negotiations go faster and more businesslike. Generally, once you've agreed on a price, things move pretty fast. This means less time on each property and more deals!

Author Resource:-> Learn REO Real Estate Investing Techniques That Work In Today's Market and Gain Access to Real Estate Investing Tools, Tips, and Technology, Get Your FREE Instant Access to Our Brand New Real Estate Investor Video Training Series. Click Here Now => www.RealEstateTrainingAcademy.com

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The general trend in Seattle Foreclosures

2010-02-16T02:48:00Z

The general trend in Seattle Foreclosures

Author: Ron Akins

Seattle foreclosures are on the rise, reflecting a national trend in rising foreclosures. They offer great opportunity for investors who want to invest in good properties at competitive rates.

Seattle is the biggest city in the U.S., Pacific Northwest. It is located in King County, Washington. Real estate agents and home buyers can look forward to some very good buys in Seattle as Seattle Foreclosures have started spiraling.

The figures have a story to tell.

There were 432 new foreclosures in Seattle in May 2009. This is 168% up from May 2008 and 27% up from April 2009.
This is not the case with the State level figures. Foreclosure filings were reported on 3, 559 Washington properties in April 2009 which was a decrease of 21% over the previous month, though 34 % up from April, last year.
Foreclosure activity in the state has slowed down probably because the unemployment rate has held steady.

Finding a dream home at a cheap price in Seattle has become easy because it heads the list of bank foreclosures. Seattle comes out with its list of foreclosed properties, mostly available on the internet. In Seattle the economic down turn has led to increase in foreclosures as more and more people are defaulting on their mortgages. While it is good news for investors, for the borrower, it is a harrowing time. Many have landed in the soup because sometimes the lender has resorted to fraud and partly due to the economic downturn. To prevent Seattle Foreclosures it is best to be aware of Seattle real estate laws. Organizations like Urban League and Solid Ground are also willing to help you.

Most lenders prefer that they get back their loans rather than being saddled with foreclosed properties. So usually they give time for you to cough up and re-arrange for your finances during a grace period. But anything beyond sixty days is considered that the property is in pre-foreclosure stage and the home owner is in default. You may want to consider various options to wriggle out of foreclosure. For instance, consult your lender. Many lenders offer programs to get you back on track while collecting some sort of payment for their mortgage. Even if you are not able to prevent foreclosure of your home, you may have managed to save a sum, which can be used to purchase a new home. Alternatively consult the Foreclosure Prevention Program that has been instituted by the government in Seattle to prevent increasing number of Seattle Foreclosures.

Article Source: http://www.articlesbase.com/real-estate-articles/the-general-trend-in-seattle-foreclosures-962222.html

About the AuthorRon Akins is Chief Writer on Real Estates and Foreclosures with over 20 years of experience in writing and provides expert tips on buying Seattle Foreclosures. For more details please visit Seattle Foreclosures

Seattle Foreclosures - Benefits and How to buy

2010-02-16T02:39:00Z

Seattle Foreclosures - Benefits and How to buy

Author: Ashley Caird

Foreclosures in Seattle are very famous because they provide properties at much cheaper rate. Seattle foreclosures gave augment to investors providing good properties at Competitive rates. Foreclosure can be defined as the legal and professional proceedings in which a mortgagee, or other lien holder, usually a lender, obtains a court order of termination of a mortgagor’s equitable right of redemption.

Seattle is a biggest coastal city, and a major sea port located in the Pacific Northwest region of US. Seattle is a flourishing metropolis driven by a diverse and resilient economy, strong entrepreneurial spirit and vital business sector for Seattle foreclosures. It is one of the major headquarters of Seattle Financial Service Company.

Investing in Seattle foreclosure is a wiser decision because finding a dream home at a bargain price is not difficult in Seattle because it tops the list of Washington bank foreclosure. Some of its benefits are

•    In a present market situation where the rates are skyrocketing, a foreclosure house is like a blessing because the investment cost is lower than even the market price.•    Seattle foreclosures provide homes with much cheaper than the equity that the home Owner originally paid
.•    It gives attractive opportunities for investors to find cheap foreclosed property.
•    The economic turn down in Seattle has lead to increase in foreclosures as more and more people are defaulting on their mortgages
•    The percentage of Seattle foreclosures rises 27 %up from April 2009.
•    People with good resource can easily invest in Seattle foreclosures, as they can also expect low interest rate in future.
•    Education: Seattle is the nation’s most educated city, with highest number of       college graduates.
•    Dining: Here one can have various coffee carts café, Seattle food, fresh local ingredients’ and great Pacific Northwest microbreweries and wineries.
•    Visiting: Best thing in Seattle to view are the wonderful mountain and water views, like Smith tower observation deck, Columbia tower observation deck etc.How to buy?
•    Spend time in searching titles of foreclosed homes.
•    The maximum emphasis should be on the legality of the property and transition.
•    It should be legitimate to justify in transition of ownership and money
•    Visit the home and check its surroundings and neighborhood.
•    Look for price signs whether it is right for the investment in Seattle foreclosed homes.
•    Seattle foreclosures require reliable and unbiased inspection of the property so that any expensive repairs can be avoided.
•    Communicate with the title owner of Seattle foreclosed homes, be its lender, bank or court.

Article Source: http://www.articlesbase.com/real-estate-articles/seattle-foreclosures-benefits-and-how-to-buy-1089962.html

About the AuthorAshley Caird is skilled writer of Real Estate Foreclosures having 18 years of writing experience. She provides tips and guidelines on buying all types of foreclosures. For more details please visit Seattle Foreclosures.

Single Story For Sale in Cambria Hills

2010-01-26T02:10:00Z

Affordable Luxury

• 2 bath, 2 bdrm single story - $237,900 - Access to UW of Bothell

Cambria Hills, Bothell - Affordable Luxury! Cambria Hills, renovated 2007 w/Fireplace, Brand new Maple finished Cabinets, Tiled Counters in Kitchen and Baths w/ All new appls. Lots of storage! Enjoy the Community Pool, Fitness Center & Clubhouse. Surrounded by all amenities Easy commuting, & access to UW of Bothell, Shopping, Dining, and Wineries. Northshore Schools!

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Foreclosure notices in U.S. rise 21% in 2009 to record; up 60% in King County

2010-01-16T08:57:00Z

The increase in King County was even more dramatic with the number of filings up nearly 60 percent. In Washington state, filings were up 35 percent.

Foreclosure proceedings in King County increased 60 percent in 2009, but the Seattle area still has not been hit as hard by the crisis as the nation as a whole. Read More

Originally published January 13, 2010, The Associated Press and Seattle Times
http://seattletimes.nwsource.com/html/businesstechnology/2010786920_foreclosure14.html

HUD TAKES ACTION TO SPEED RESALE OF FORECLOSED PROPERTIES TO NEW OWNERS

2010-01-16T07:48:00Z

WASHINGTON - In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The announcement is part of the Obama administration commitment to addressing foreclosure. Just yesterday, Secretary Donovan announced $2 billion in Neighborhood Stabilization Program grants to local communities and nonprofit housing developers to combat the effects of vacant and abandoned homes. Click here to Read the whole article.

U.S. Department of Housing and Urban Development (HUD)

http://www.sorinrealty.com/

http://www.seattleforeclosures.com/