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Foreclosure Auction Sales Results for April 23rd 2010

Last Friday’s foreclosure auctions had a total of 31 third party sales between the King, Pierce and Snohomish County Auctions.  The breakdown by county was the following:

King County = 14 third party sales

Snohomish County = 7 third party sales

Pierce County = 10 third party sales

Total = 31 third party sales

If you would like to take a look at the properties that sold last Friday and the amounts they sold for then visit the following link: Foreclosure Auction Sales Results

While these numbers are about twice what historical averages have been in a month, it is likely to jump higher still when the summer months arrive. The number of properties on the calendar beginning in June 2010 nearly doubles current numbers so expect a marked increase in total properties going to auction and an increase in the number of reverted to beneficiary and sold to third party properties.

Foreclosure Auction Sales Results 04-16-2010

There were 30 third party auction sales last Friday in the auction locations split up among King, Pierce and Snohomish Counties.

You can view a pdf document with all of the sale details including winning bid amount here:

Foreclosure Auction Sales Results

If you are interested in buying at the foreclosure auction, you’re invited to attend our free educational workshop where you will learn how to purchase property at the foreclosure auction at discounts of 20-45% from today’s market value.. 

Every Thursday at 5:30 pm in Redmond, WA at the offices of Real Estate Investment Firm/Advantage Commercial Brokers, Inc.  Register to attend the workshop here

Foreclosure Auction Sales Results for Friday April 9th 2010

There were a total of 21 properties sold to third party buyers at the King, Pierce, & Snohomish County foreclosure auctions.  There were 12 third party sales in King County, 5 in Pierce County and 4 in Snohomish County.

Below is a link to view all the properties sold at the foreclosure auction last week.

If you are interested in buying at the foreclosure auction, you’re invited to attend our free educational workshop where you will learn how to purchase property at the foreclosure auction.

Every Thursday at 5:30 pm in Redmond, WA at the offices of Real Estate Investment Firm/Advantage Commercial Brokers, Inc.  Register to attend the workshop here.

Foreclosure Heat Map Accross the USA

Foreclosure Heat Map

This heat map, provided by RealtyTrac, shows the hot spots for foreclosure filings in the USA for calendar year 2008.  A quick look at the data and you can easily see that there was not really any significant region that went unscathed as the housing market nosed dived.

King County Foreclosure Auction Sales Statistics for July 10th 2009

Below are the sales results from the King County Foreclosure Auction on July 10th 2009.

King County Foreclosure Auction Sales Statistics

Watergate Hotel Sold Today at Foreclosure Auction

The iconic Watergate Hotel in Washington D.C., made famous during the Nixon administration and the resulting scandels was sold today at a foreclosure auction for $25 Million dollars.

Are you facing foreclosure or behind on your mortgage?

Free Counseling and Help is Here

If you are a homeowner that is facing foreclosure or you are behind on your mortgage payments and are concerned where to turn, there are three workshops scheduled in the coming days from Everett to Tacoma sponsered by local government agencies and nonprofit groups.

At the workshops, homeowners can learn about possible refinancing options and loan modifications that may be available to them.  These services are all provided free of charge to homeowners.

Below is a list of locations and dates for the workshops:

Those attending the workshop should come prepared with photo I.D., Social Security number, monthly mortgage statements, copies of loan closing documents, recent pay stubs and bank statements and their last two years tax returns.

For more information on any of the workshops you can contact the Urban League at 800-368-1455. 

Low Prices on Foreclosures Incite Bidding Wars Among Would Be Buyers

The Seattle Times just published an article this morning on the bidding wars that are erupting between potential buyers for foreclosure and bank owned properties in several areas around the country.  Most of the frenzy is taking place in the hardest hit ares for foreclosures such as Phoenix, Las Vegas, Southern California and South Florida.

Investors, flush with cash to spend are flocking to pick up newer built homes in the lower prices neighborhoods popular with first time home-buyers and those with families.    Prices on these foreclosed properties are in many cases over 50% less than their peak prices of 2006 and 2007.

With all the attention being paid to these foreclosures, many first-time home buyers in these markets are finding it hard to compete and are making offer after offer in an attemp to land their first home.

While the Seattle foreclosure market has not had the sheer numbers that other major markets have had in terms of total foreclosures and existing inventory, it is still a lucrative market for both investors and those looking for a terrific deal on their next home.  Most of the properties sold to a third party at the foreclosure auction recently have been sold in the range of 65-75 cents on the dollar of todays already discounted prices.  For investors, it is now common to see several homes available each week at the foreclosure auction that would be cash flow neutral or slightly cash flow postive with a 20% down payment from the buyer and typical financing terms for the balance.  Two years ago, that was virtually unheard of in King County.  Now is the time to strike if you are looking to pick up a great investment property or personal residence drastically under market value.

June Housing Stats Say Buyers are Coming Back!

The most recent report on area home sales offered good news to Puget Sound’s homeowners and a bit of hope that buyers are slowly jumping off the fence and writing offers and closing deals.

In June 2009 the number of closed sales on single family homes was up 4 percent over the same month in 2008.  June’s sales totals marked the first year-over-year increase since the market peak of 2007.

One area to see a dramatic rise in the number of closed sales was the east King County neighborhoods of Juanita-Woodinville-Duvall which saw a 31 percent increase in the number of sales over the same time period last year.  And the numbers show that buyers are not just 1st timers jumping into the market to capture the federal $8,000 tax credit that is set to expire in November.  According to the NWMLS, sales in what is considered the most affordable areas of King County, the Southwest and Southeast actually declined while sales in traditional upper middle income neighborhoods in Seattle and on the Eastside actually saw the uptick in activity.

While it is too early to say if there is a trend developing, any increase in buyer activity is welcomed.