Posts Tagged ‘King County Foreclosure Auction’

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

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.

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 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 of current market conditions and throw in a little luck for good measure you can make consistant and sizeable profits time and time again. 

Below are the details on a recent foreclosure auction purchase made by an investor working with Real Estate Investment Firm, LLC. 

Rosario Place, Renton WA

REIF foreclosure purchase

This property was purchased on March 27th 2009 at the King County Foreclosure Auctionfor $1.00 over the lenders opening bid of $364,650.00.  When this property was reviewed in our Auction Investor Meeting the night before, the REIF Auction Specialist told the group that a cash buyer could purchase and flip this property in under 90 days and make a net pre-tax profit of approximately $40,000.00.  In the end it only took 67 days from the purchase date until escrow closed on the re-sale.  When all the costs for acquisition, fix-up, holding and re-sale were calculated, the net profit to our client was $39,463.00  Below is a breakdown of those figures and a chart that shows the ROI (return on investment) for this transaction.

If we extrapolate this data out to a 12 month time-frame, it would roughly work out to an anual net income before taxes of $240,000.00.  Keep in mind as well that the investor who bought this house only spent approximately 30-40 hours of his time working on the property. 

If you would like to learn how you can help secure your financial future by investing in foreclosures and distressed real estate then I encourage you to attend one of our free foreclosure investing workshops.  They are held every Tuesday at 5:30 pm at our downtown Redmond office

.

King County Foreclosure Auction Statistics for December 5th 2008

Of those 203 properties:

• 11 were picked up by 3rd parties at the auction
• 51 reverted back to the bank
• 141 were cancelled/sale off

Since we started the week with over 300 properties on the list, there were aslo over 100 postponements granted as well.

We specialize in foreclosure auctions, short sales, REO/bank owned properties