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Foreclosures category.
This area is for information about the three stages of foreclosure properties. 1) Pre-Foreclosure 2) Foreclosure Auction 3) REO or Bank Owned Properties
REIF Announces Flat Fee Pricing for Foreclosure Auction Property Buyers
Redmond, Washington - Real Estate Investment Firm, the premier distressed property consultants in the region announced a new flat fee pricing structure for their clients and investors who purchase properties at the foreclosure auction in King, Pierce and Snohomish counties.
The latest news from REIF comes on the heels of their recent successful launch of their acclaimed online foreclosure tracking platform, a state of the art website which tracks and provides real-time updates on properties in foreclosure exclusively to REIF clients. In today’s announcement REIF implemented a pricing policy that instead of charging buyers the customary 3% commission, REIF has decided to drastically cut that cost by only charging a low flat fee that is based on the county in which the property was purchased. The new price their clients will pay when they purchase a foreclosure auction property is $3,500 in King county, $3,000 in Snohomish and an astonishing $1,500 for all foreclosure auction purchases in Pierce county.
REIF is the first and only full service foreclosure auction group in Washington to adopt the flat fee pricing model for their clients. Savings for a buyer on a typical $350,000 foreclosure auction purchase in King county would equal $7,000 by paying REIF’s flat fee verses paying the typical 3% commission still being charged by REIF’s competitors.
Those interested in learning more about the services REIF provides their clients are encouraged to attend one of their free weekly foreclosure buying workshops held every Tuesday evening at 5:30 pm at their downtown Redmond office.
Foreclosure Heat Map Accross the USA
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
King County Foreclosure Auction Sales Statisics for
July 6th 2009
Total # of Properties Scheduled for Auction
78
Discontinued/Sale Off
43
Reverted to Beneficiary
29
Sold to 3rd Party
6
Unknown?
1
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.
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, [...]
Short Video on the benefits or working with Real Estate Investment Firm on your next short sale
When your looking for the most experienced and knowledgeable short sale and distressed property consultants look no further than Real Estate Investment Firm. To learn more, you are welcome to attend one of their free workshops on “how to buy foreclosures” held weekly at their downtown Redmond office.
REIF Investors Make Quick Profit Buying at the Foreclosure Auction
“Can we really make money in this real estate market flipping houses?”
We hear that question quite a bit around our office. Usually it comes up on Tuesday during our weekly workshop for new clients & investors on “How to buy foreclosure auction homes, short sales and bank owned/REO’s”.
The answer is most definitely YES! With accurate property research and due diligence combined with a keen knowledge [...]
How to buy foreclosures, bank owned and short sale properties
Buying or investing in properties that are in the foreclosure process is your wealth building opportunity!
Did you know that NOW is the best time to invest in foreclosure properties?
Many people are interested in investing in properties that are in the foreclosure process, but are unsure of the steps to take to get started.
The market conditions of today have converged [...]
Foreclosures Surge in March
A recent article on MSN Money describes the surge last month in foreclosure activity around the country. March 2009 saw a 46% increase over March 2008.
Much of the increase is attributed to lenders lifting temporary moratoriums and resuming legal actions against delinquent mortgage holders.
To read the full article click here
Locally, the total number of properties [...]
King County Foreclosure Auction Statistics for December 5th 2008
December 5th was one of the biggest days the foreclosure auction has seen in recent times in King County. After several dozen postponements there were a total of 203 properties left on the schedule for Friday morning’s foreclosure auction’s in Seattle and Bellevue.
Of those 203 properties:
11 were picked up by 3rd parties at the auction
51 reverted back [...]
