About King County, WA

Bank Owned Homes in Seattle WA Some of the best deals in Real Estate are REO or Bank Owned Real Estate. Banks are in a hurry to sell a home and they intentionally price it 20% below the market. A Bank Owned home is property that goes back to the mortgage company after an unsuccessful foreclosure auction. You see, most foreclosure auctions do not even result in bids. After all, if there was enough equity in the property to satisfy the loan, the owner would have probably sold the property and paid off the bank. That is why the property ends up at a foreclosure or trustee sale. Since what is owed to the bank is almost always more than what the property is worth, very few foreclosure auctions result in a successful sale. Then the property "reverts" to the bank. It becomes an REO, or "real estate owned" property.

I have broken down Seattle's sales from the Northwest Multiple Listing Service in 3 sections, Bank Owned, Shortsales(Pre-foreclosures), and "Arms Length" Transactions. Some points of interest; the median home sales price is $266,500 $365,000 & $409,500 respectivly making Bank Owned Real Estate(REO) the best value/deal for home buyers. While short sales may seem attractive they take longer to close. Bank Owned Homes(REO's) are already approved and a buyer is negotiating directly with the bank.

Seattle WA Bank Owned Market Statistics for January 2010

Active: 84

Pending: 62

Sold: 33

Other: 0

Total: 179

	Bedrooms	Bath	Sqft	List Price	Selling Price	DOM
Minimum	1	1.00	0	$89,900	$97,500	0
Average	3	2.03	1,791	$337,527	$280,014	51
Median	3	2.00	1,460	$279,000	$266,500	42
Maximum	10	5.00	4,740	$1,295,000	$750,000	189
Total Dollar Value					$9,240,450

Average DOM Breakdown and Average % of List Price received on Solds by Market time:

	0-30 Days	31-60 Days	61-90 Days	91-120 Days	120+ Days
No. of Listings	13	12	4	1	3
Breakdown %	39.39	36.36	12.12	3.03	9.09
Avg SP % LP	101.14	95.92	100.97	92.34	99.55

Seattle WA Shortsales(Preforeclosures) Market Statistics for January 2010

Active: 258

Pending: 228

Sold: 35

Other: 0

Total: 521

	Bedrooms	Bath	Sqft	List Price	Selling Price	DOM
Minimum	0	0.00	430	$104,000	$145,000	0
Average	3	2.00	1,950	$392,972	$432,216	77
Median	3	2.00	1,720	$319,000	$365,000	58
Maximum	9	6.50	9,405	$5,650,000	$1,185,000	499
Total Dollar Value					$15,127,568

Average DOM Breakdown and Average % of List Price received on Solds by Market time:

	0-30 Days	31-60 Days	61-90 Days	91-120 Days	120+ Days
No. of Listings	11	4	8	3	9
Breakdown %	31.43	11.43	22.86	8.57	25.71
Avg SP % LP	96.88	96.46	98.52	87.23	97.90

Seattle WA Non-Bank Owned/Shortsale Market Statistics

Active: 1711

Pending: 512

Sold: 255

Other: 0

Total: 2478

	Bedrooms	Bath	Sqft	List Price	Selling Price	DOM
Minimum	0	0.00	286	$99,999	$120,000	0
Average	3	2.23	2,195	$646,736	$495,622	83
Median	3	2.00	1,853	$439,000	$409,500	47
Maximum	13	8.50	11,022	$14,950,000	$1,925,000	997
Total Dollar Value					$126,383,677

Average DOM Breakdown and Average % of List Price received on Solds by Market time:

	0-30 Days	31-60 Days	61-90 Days	91-120 Days	120+ Days
No. of Listings	80	60	39	26	50
Breakdown %	31.37	23.53	15.29	10.20	19.61
Avg SP % LP	97.59	96.10	95.06	93.96	94.50

See more reports for Bank Owned homes.
Kirkland WA
Redmond WA
Sammamish WA
Issaquah WA
Bellevue WA

If you are looking for a detailed list of REO(Bank owned real estate)properties, or short sales, simply sign up to receive King County WA Bank Owned homes & property updates.

Yes, while the East Coast is getting hammered by snow, we in the Pacific Northwest are enjoying a very mild winter. In fact, can you even call it a winter?

The Olympic Winter Games are being held in Vancouver, BC, which is just 162 miles north of us. This is the warmest January in Vancouver history - really bad timing, but what can you do? Bring the snow in by helicopter and they have: 5,000 cubic meters so far!

Last year, we were hammered with the biggest snowfall I remember having here - ever. I took this photo at lunch today. What you are looking at is the Redondo (Washington) pier and some beachfront. Behind me is a very long boardwalk that extends for quite a ways with people jogging or walking up and down it.

Who says it always rains here?

Julie Booth

206-429-2696

Income property can have very stable, respectful and reliable tenants. Seattle, WA

Yes, that’s correct! It all depends on product, location and good tenant screening. If you don’t have all three, your vacancy rate will be too high. Let’s discuss product first. We recommend to our students that they furnish their properties with clean functional items, new linens and art work on the walls. What you are creating is an environment that is very pleasing to the tenant, one that not only the tenant will look forward to coming home to, but also one, through pictures on flyers, web sites and word of mouth, will attract new inquires. We are all for building and establishing a pipeline.

Many furnished rooms for rent are not clean and contain old, thread bear chairs, sofas, and soiled mattresses. Would you want to stay any longer than you had to in a place that does not support a good sense of self-esteem? Nicely furnished rooms engender good paying tenants, who stay for long periods.

Our favored tenant populations normally do not have their own transportation so proximity to public transportation is necessity.

Key to this equation within our system is good tenant screening, which strangely enough does not include credit or traditional background checks. Our tenants are referred to us, so we gain knowledge about them and their history though direct questioning of people who are familiar with each possible tenant individually. We discover personal background information and work experience. This type of screening done methodically will produce good paying tenants who stay for long periods creating a stable house.

To learn more about establishing transitional housing, please download our free Ebook from the side bar on our main blog site.

Don't hesitate to contact us with questions. Learn about us. Learn our system. Learn what others have to say about us and our system.

One of the delights of this afternoon was dropping off of a Fed X at Mail, Copy & More, located in Dash Point Village in Federal Way. As I waiting in line, the Gent on the far left was mailing a package of Valentine's Day candy to his Granddaughter. He insisted that it was his wifes idea and not his, but I couldn't help but smile at the wonderful sentiment.

Federal Way has many different attributes, such as a very active Chamber of Commerce but what really makes it stand apart are the very friendly people in the community.

I am delighted to have moved to this town and set up my business mail box here at Mail, Copy & More.

This company has a variety of printing options as well as business cards, custom name tags, rubber stamps and of course box rental. Call Donn Porter (no I did not miss-spell his first name, it really has 2 "n"s), at 253-874-2790. By the way, he is the guy 2nd from the left.

Enjoy this day!

Julie Booth

206-429-2696

The following are upcoming land use review board meetings of new residential projects in the Seattle core districts, either planned as apartments or condos. Where applicable, I've noted existing condominiums located in the vicinity of the proposed structures.

2030 8th Avenue. 38-story 350-unit residential tower proposed in the Denny Triangle area. Located at 8th and Lenora, the building would be situated NW of the Cosmopolitan and SW of the 2200.

Design Review Early Design Guidance Meeting
February 9, 2010 at 5:30 PM
Seattle City Hall
Download the design proposal workbook (12 MB PDF)

2nd & Pike Tower (1430 2nd Ave). 35-story residential tower at the SE corner of 2nd & Pike. At one point the project was to include a hotel, Candela, which has since been removed from the proposal. The project is situated on the SE corner of the intersection, across from the Newmark Tower.

Design Review Second Early Design Guidance Meeting
February 9, 2010 at 7:00 PM
Seattle City Hall
Download the design proposal workbook (7MB PDF)

1200 Stewart. Twin 35-story towers proposed at the corner of Denny and Stewart to contain residential, hotel and retail space.

Design Review Board Meeting
February 23, 2010 at 5:30 pm
Seattle City Hall

151 John Street. This is a 7-story residential building proposed at the corner of John Street and Warren Avenue next to the Seattle Center. This the lot adjacent to the north of Queen Court.

Design Review Board Meeting
March 3, 2010 at 6:30 PM
Queen Anne Community Center

3031 Western Ave. This is Martin Selig's 14-story 78-unit apartment proposal that's situated at the north end of the Olympic Sculpture Park and west of the Alexandria.

Design Review Board Meeting
March 9, 2010 at 5:30 pm
Seattle City Hall