Posts Tagged ‘Foreclosure Investing’

What Sold at the Foreclosure Auction on October 1st 2010

Last Friday’s foreclosure auctions for King, Pierce and Snohomish Counties saw one of the lighter weeks we have witnessed at the auction in quite some time.  All told, there were only twenty properties that were sold to third party buyers for all three counties combined.  That is about 20-40% lower weekly sales volume than in recent weeks.  The recent announcement by several of the nations largest banks that they were temporarily suspending foreclosures in 23 states is likely to keep the weekly totals toward the lower end of the spectrum until the new year.

To view a .pdf file with details for all the properties that were purchased at last weeks foreclosure auction please select the following link.

Foreclosure Sales Results for October 1st 2010

REIF Clients Buy 5 Properties at King County Foreclosure Auction

The Factoria foreclosure auction was the place to be on Friday (August 20th 2010) where Real Estate Investment Firm clients purchased 5 properties that were sold via auction at the trustees sale (foreclosure).  Of the five properties, two were in Seattle, two in Renton and one was in Bothell.  Pictures of the five properties are below:

The average price/value on these foreclosure auction purchases was 74 cents on the dollar!  Imagine purchasing your next home or investment property at a discount of 25% or more!

Foreclosure Auction Sales Results for June 4th 2010

Last week’s foreclosure auction sales results are in and the numbers shake out as follows:  In the three counties REIF operates in (King, Pierce, SnoCo) there were a total of 30 sales to third parties.  That is 30 out of 208 properties that were on the calendar to be sold.  The remainder either reverted back to the beneficiary or were cancelled.

You may view a .pdf with property details for all 3o of the third party sales by selecting the following link.

Foreclosure Auction Sales Results for June 4th 2010

Major Leage All-Star Purchases Malibu Foreclosure Property

Ryan Braun, the All-Star outfielder for the Milwaukee Brewers knows a good deal when he sees one.  Braun just closed escrow on a bank owned foreclosure property located in Malibu that was once listed during the peak real estate prices of 2007 for $8.9M.  Braun picked up the Mediteranian styled ocean view villa for the bargain basement price of $4.85M

To read the full story follow this link.

You don’t have to be signed to a Major Leage contract however to be able to pick up a bargain property that is in foreclosure.  If you are looking to save 20-50% on the purchase of your next home or investment property then sign up to attend a free workshop presented by Real Estate Investment Firm in Redmond, Washington.

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.

Jared Higbee Joins REIF’S King County Foreclosure Auction Team!

Real Estate Investment Firm is pleased to announce that Jared Higbee has joined our King County Foreclosure Auction team.

Jared brings over 12 years of Real Estate experience to Real Estate Investment Firm. He has been a licensed agent for 10 years with a primary focus of consulting clients and investors on the purchase of distressed real estate via the foreclosure process. Jared has been a part of more than 1000 foreclosure transactions since starting his career in real estate.

In 1997 Jared joined a team that was pioneering foreclosure investing in Washington State. Leading the way in the tracking and gathering of the necessary information about each property in foreclosure, Jared has become very knowledgeable in property title history, lien analysis, current market values and trends, and the unique live competitive bidding process at auction. These qualities, along with his unwavering commitment to his client’s success help to guide them and give them the edge needed to become successful bidders at auction.

Jared will be an amazing asset for our team. Our Thursday night investor meetings provide you with an excellent opportunity for you to meet Jared and to start taking advantage of his expertise.

REIF Launches New Online Foreclosure Tracking Platform

Real Estate Investment Firm, LLC anounced Thursday July 2nd 2009 the launch of their new online platform for real-time status tracking of foreclosure auction or trustee sales sales in King, Pierce and Snohomish Counties. 

The website, buyWAforeclosures.com, also provides clients with detailed property information, photographs, property condition reports, lien and judgement reports as well as direct to property links to various county and 3rd party web sites such as zillow.com and google maps.

Access to the site is restricted to members or clients of Real Estate Investment Firm.  For information on becoming a member please visit Real Estate Investment Firm and register to attend one of their weekly foreclosure training workshops on how to buy foreclosures.  At the conclusion of the workshop attendees will be given a username and password to access the site.  Worshops are held every Tuesday at 5:30pm in their downtown Redmond, WA office.

Will low interest rates bring buyers back to the table

Conforming 30 year fixed rates mortgage loans have dropped considerably this past week.  Locally Citibank and Countrywide are offering a 30 year fixed conforming loan for 4.875% with a cost of 2.250% and 2.000% respectfully. 

Will these never before seen interest rates prompt buyers back into buying again or will they sit on the sideline in hopes of obtaining the rumored 4.5% government subsidized rate when the new Obama administration takes office. 

Below is a chart obtained from MSN Money detailing available rates, fees & points available in the greater Seattle-Tacoma area.

Loans shown are 30-yr. fixed conforming loans available in Seattle-Tacoma, Washington.

photo credit: respres

 With rates this low, anyone looking to purchase a primary residence or investment property definitely needs to look to the foreclosure auction and short sales or REO/bank owned properties to get twice the financial benefits.  By buying a distressed property you can pick up a new home at discounts of 20-45% under today’s market value.  Combine that with never before seen low interest rates and you can increase your buying power dramatically.

Will Dec. 5th 2008 be the Biggest Foreclosure Auction Ever in King County

The foreclosure auction set for December 5th in King County, Washington is set to be the largest in County History.

Read more...

Forbes Ranks Seattle #1 Real Estate Market to Rebound!

Forbes.com recently posted an article listing Seattle as the #1 real estate market in the country most likely to rebound.  An excerpt from the story says “Seattle has a reputation for nurturing brainy industries like aerospace and software. That should help it weather the coming financial storm. Seattle also stays strong because of its vibrant, livable downtown where rents are going up and tenants are likely to stick around.”

It’s nice to know that the people at Forbes and the 700+ real estate professionals they surveyed for this piece echo the same sentiments that we at Real Estate Investment Firm have been saying for several months now.  When you look at the fundamentals of the Seattle area real estate market and the local economy, there is no better place to be to position yourself to make large gains when the turn around occurs.

You can read the entire article here.