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Foreclosures & Short Sales | Maple Valley WA

Foreclosures & Short Sales

Maple Valley’s Valley Green III-New & Improved Price

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Maple Valley’s Valley Green III-New & Improved Price

24112 231st Place SE, Maple Valley 98038-Just Reduced to $259,950 in the super popular Valley Green neighborhood. This Schneider Homes 2 story, located in Division 3 was built in 2001 and has alot to offer the discerning buyer.   The floorplan is light and bright with vaulted ceilings in the Living Room. Formal Dining features white millwork and chair-rail. The Kitchen and informal areas look onto a larger than average rear yard, complete with entertainment-sized paver patio boasting built-in benches and custom trellis detail. Valley Green is located just off Hwy 169 and is served by the Rock Creek Elementary School. There is a large neighborhood park and the community is within walking distance to coffee and local shops. Don’t miss your chance to live in this popular community for a great price! Currently offered at $275,000. More details and photos/virtual tour coming soon!

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Maple Valley Short Sale-Closed!

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Maple Valley Short Sale-Closed!

Happy Thanksgiving to the new owners of this lovely 3 BR home in Maple Valley! The previous owners contacted me this Summer as a job relocation out of state meant they would need to sell. Having bought this home in 2007, their value was,  needless to say, much lower than when purchased. We negotiated this Fannie Mae short sale, with a full waiver of deficiency rights, received approval on the 2nd….all without the owners ever having to be late on a payment. If I’ve said it once, I’ll say it again, no two short sales are exactly alike, which is why, if you’re considering this option as an exit strategy, it’s important to get information as it pertains to your personal set of circumstances. Educating yourself is a very important first step in the process!  

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Maple Valley Short Sale Closed

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Maple Valley Short Sale Closed

Valley Crest in Maple Valley, WA-Really nice Harbour Homes Sequoia plan just closed this past week as a HAFA short sale. Given that the sellers qualified under the HAFA program, they were able to sell and have their liens released without any deficiency judgment hanging over their head. Many families decide to short sale because they either fell behind in payments or are about to because of high interest loans. If you or someone you know has questions about the short sale process, please contact us. We negotiate our own short sales and specialize in the Maple Valley Market.

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Maple Valley HUD Home Activity

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Maple Valley HUD Home Activity

HUD homes in Maple Valley were once a rarity, however with the increase in foreclosures throughout King County, we are seeing HUD listings more regularly here in the Tahoma School District. HUD is an acronym for the Department of Housing and Urban Development. FHA loans are insured by HUD and therefore, when a property encumbered by an FHA mortgage goes to foreclosure…it ends up as HUD inventory. These properties are often priced very aggressively and sell quickly. There are currently 2 HUD homes on the market in Maple Valley (one priced at $65,000!). In the last 6 months, there have been 7  HUD homes sold and closed with the lowest priced home $62,000 and the highest $270,000 The process of buying a HUD home is vastly different than purchasing a short sale, traditional Bank Owned property, or a “regular” sale and a buyer must use an approved HUD real estate broker in order to make an offer. Search all Tahoma Bank Owned properties here Search all South King County Bank Owned properties here .

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How to Buy a HUD Home in Maple Valley

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How to Buy a HUD Home in Maple Valley

Buying a HUD home in Maple Valley can mean getting a great deal on an REO property, however the process is different from buying any other bank owned property. HUD homes are FHA foreclosures. When a HUD home is listed for sale, it is offered for a period of time to owner occupants only. During that “opening bid” period, buyers who are not investors, can make an offer. In order to make an offer as an owner-occupant, the following criteria must be met: A HUD approved Real Estate broker must write and electronically submit the bid. The buyer must have the required earnest money amount (in our area, usually $1,000) in the form of a cashier’s check made out to HUD or “Buyer’s name”.  If financing the purchase, the buyer must be pre-approved (with letter in hand) If a cash purchase, buyer must ave proof of funds Buyer and Broker must sign an affadavit that the buyer will be occupying the home and the purchase is not being made as an investment. HUD will continue to collect offers during the intial bid period, afterwhich they will calculate the net offer to them. (Offered price, less any concessions and fees requested by the

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Short Sale Activity in Tahoma School District

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Short Sale Activity in Tahoma School District

The good news is negotiating short sales with Lenders has become much more streamlined and efficient (relatively speaking) since our market decline of mid-2007. The bad news is short sales still make up a large percentage of our inventory and I don’t think that’s likely to go away any time soon. Here’s how the inventory numbers work out: Active Listings= 24% of Inventory are Short Sales Pending Sales = 38% of Inventory are Short Sales Sales w/in 180 days = 14% of Closed Sales were Short Sales A closer look shows the average Short Sale listing price of a home for sale w/in the Tahoma School district boundaries is $263,531 and the average market time of those listings is 109 days. The average Sales price of a closed Short Sale is 287,966 and the average days on market for those homes was 104 days. Short sales are a reality of our market and are becoming much more common place among owners who are upside down in value, but have to move for various reasons. If you’re interested in finding out how a short sale works, or if your situation looks positive for a successful short sale, feel free to call or email

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10 Tips for Buying a Short Sale

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10 Tips for Buying a Short Sale

You’ve found the house…..only it’s a short sale situation. If you have your heart set on buying a short sale in or around Maple Valley (and they can be great deals for buyers with patience) you’ll be hard pressed not to find something in your area at your price. (See all short sale listings within Tahoma School District boundaries here) In order to increase your odds of successfully closing on a short sale property here  or anywhere in King County, here are a few helpful tips and good questions to ask along the way: 1. How many approvals will be needed for the short sale? Many buyers (and agents) erroneously think only the mortgage holders must approve the sale. While these are the major players in the process, Home Owners Associations, Utility Companies and other liens must be negotiated and cleared prior to title transferring to a new owner. 2. What is the nature of the Seller’s hardship? Some seller’s agents won’t divulge this (and I would be one of them unless I had my client’s permission) but when representing a buyer, this is a question I ask of the listing agent. The answer tells me alot about the chances

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Maple Valley Bank Owned Homes | Listing Activity

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Whether you’re an investor or looking for your next place to call home, bank owned properties (also known as REO’s) can often be a great deal for the right person. Here’s a snapshot of what’s going on in this segment of the market, for single family bank owned homes within the Tahoma School District: Active Listings: # Currently Available:  34    Highest Price: $799,000  Lowest Price: $59,900 Pending  # Pending Inspection: 11            Highest Price: $334,900         Lowest Price: $164,900 # Pending  Close of Escrow:  12    Highest Price: $494,010 Lowest Price: $179,900 SOLD # Closed (180 days) :  38   Highest Price: $552,000  Lowest Price: $126,000 You can search Bank owned homes for sale within the Tahoma School District here

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