King County Foreclosure Auction – September 2008 Sales Stats

Below are the foreclosure sale statistics for the month of September 2008 at the King County Foreclosure Auction.  The foreclosure auction takes place each Friday beginning at 10:00 a.m. at two locations in King County.  In front of the King County Administration Building in Seattle and in Factoria outside the offices of Northwest Trustee Services Inc. just behind the movie theater. 

Of the 465 properties scheduled to be sold at auction, 289 sales were cancelled, 140 properties reverted back to the bank or foreclosing lender and 36 were purchased by a 3rd party.  That does not mean their were only 36 good deals to had.  It only means that there were only 36 people or investors willing and able to buy that month.  Many of the 140 properties that reverted to the banks were great deals and represent a tremendous missed opportunity for anyone wanting to capitalize on this market.

To learn more about investing in distressed and foreclosure properties and how you can buy properties at 60-80 cents on the dollar, please sign up to attend our Free weekly workshop called “Never Pay Retail” held at our downtown Redmond, WA office.