Buying Foreclosed Real Estate is a great way to get a fantastic deal on the property you want! Now is yor oppounity to work one-on-one with an experienced distressed sale buyer's agent to help you locate, research, and negotiate the best deal for your home or investment.

REO (Real Estate Owned): are properties that have completed the foreclosure process and are now owned by the beneficiary such as a bank, mortgage company, or private lender. REO's come from the following sources:

  • Distress sales, such as an owner completing a "Deed in Lieu" back to the bank.
  • Foreclosure auctions.
  • Corporate owned homes.

By providing you with outstanding service and local knowledge you don't need to be a full time investor to get the same deals they do... I'll help you do it!

Examples

Street Address 4562 308
Listings as of 01/12/09 at 12:21pm

Status
 
Date
Listing#
ListOffc
SellOffc
List Price
Sold Price
Address
City
Owner Name
Tax ID
Community
 
Phone To Show
Area Beds
Baths
Sq Ft
Acres
Map/Gd
Style
Wtr/Vew
Gar/FP
New Con.
YrBt
Lot#
Sold
 
11/25/08
28160477
5657
5365
490,000
490,000
4562 308th Ave SE
Fall City
Wa Mu
1724079053
Fall City
 
000-000-0000
540 4
2.50
2890
5.120
599   B 3
18
No   Yes
3     1
1990

History: This property was purchased by the owner in April of 2000 for $650,000. It was not listed for sale again until April of 2007 in which the asking price was $1,350,000. This property then goes into foreclosure in March 2008. No one buys this property at auction so it reverted back to the bank, then is sold as an REO (Real Estate Owned) property for $490,000 on November 25, 2008.
By running current comparable properties which sold within 6 months and ¼ mile… the REO property sold for 23% less then the comparable listed sold homes.

Street Address 33 210
Listings as of 01/12/09 at 12:25pm

Status
 
Date
Listing#
ListOffc
SellOffc
List Price
Sold Price
Address
City
Owner Name
Tax ID
Community
 
Phone To Show
Area Beds
Baths
Sq Ft
Acres
Map/Gd
Style
Wtr/Vew
Gar/FP
New Con.
YrBt
Lot#
Sold
 
06/24/08
28033400
7192
5901
549,900
500,000
33 210 Pl SE
Sammamish
Lender
8562901420
Sammamish
 
000-000-0000
540 4
3.25
0
0.000
567   H 6
11
No   No
3
1998

History: Owner purchased property in February 2007 for $800,000. Goes into foreclosure in January 2008 and reverts back to the bank. Home is then re-sold as an REO (Real Estate Owned) for $500,000 in June 2008.
This same property sold for 37% less then its market value in 2007. By running current comparably listed homes sold in the last 6 months within ¼ mile this REO home sold for 31% below what the standard listed homes sold for.

Street Address 3116 244
Listings as of 01/12/09 at 12:27pm

Status
 
Date
Listing#
ListOffc
SellOffc
List Price
Sold Price
Address
City
Owner Name
Tax ID
Community
 
Phone To Show
Area Beds
Baths
Sq Ft
Acres
Map/Gd
Style
Wtr/Vew
Gar/FP
New Con.
YrBt
Lot#
Sold
 
11/13/08
28130005
9295
7346
849,900
820,000
3116 244th Ave NE
Redmond
Bank Owned
2325069010
Sammamish
 
000-000-0000
540 4
3.50
3620
6.170
568   D 2
12
No   Yes
3
2005

History: This property was purchased by the owner as a new construction in December 2005 for $979,000. It then goes into foreclosure with a bid of $1,079,860 owing to the bank. This property reverts back to the bank in January 2008, and is resold as an REO (Real Estate Owned) for $820,000 on November 13, 2008.
If you compare similar properties sold within 6 months and ½ mile, the comparably listed homes sold for 13% more then this REO home.

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