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Foreclosures | Maple Valley WA

Posts Tagged ‘ Foreclosures ’

Valley Green Bank Owned Home-Ready to Go!!

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Valley Green Bank Owned Home-Ready to Go!!

Available NOW, this Schneider built home is a REO property and offered at an incredibly low price of $319,950! Valley Green is located in the heart of Maple Valley and lies within the Rock Creek Elementary school boundary. There is a large community park (which kids love when it snows!) and play area for kids. This home is also located on a cul-de-sac and boasts 4 Bedrooms, a 5 piece Master bath and all the architectural details one finds in a Schneider built home! For more information or photos, feel free to email us or call 425.432.5400. Sign up for our Automated Home Search of Maple Valley Listings Find out what your Maple Valley home is worth at MapleValleyHomeValues.com; a complimentary service for local residents; an estimated value delivered directly to your inbox! This property is advertised courtesy of Prudential NW with permission.

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Bank Owned 3.45 Acres $312,500

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Bank Owned 3.45 Acres $312,500

One of several REO properties currently available within the Tahoma School District boundaries, this 1998 built 3 BR 2 BA home is approximately 1400 square feet and has a covered front porch, large rear yard and a hot tub. This property is sold in “AS-Is” condition and is Lender owned. Conveniently located just off 169. For more information or photos, email us. Or sign up for our Automated Home Search of Maple Valley Listings This property is advertised courtesy of Prudential NW with permission.

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December Available Bank Owned Inventory

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I put together my first bank owned property report for the Maple Valley market almost one year ago. Back then I said: ” Currently (as of 12.26.07) there are 4 Bank Owned Properties for sale in the Maple Valley market, this is a higher number than we’ve seen in the past, but certainly better than many other areas of the Country and hopefully a trend we will not see increasing.” Here we are a year later and sadly the trend has increased, by 400%! Unfortantely, a high number of short sales and Lender’s inability to move quickly on their decisions, have caused motivated buyers to move on to listings (either bank owned or not) where they won’t have to wait for an answer. If it were possible to get a faster response on short-sales, we may see these numbers stabilize and then hopefully begin to decline. Until then…..we continue to be spectator within an unprecendented market Currently there are 16 Active Bank/Asset Company Owned Listings The average List price for these homes is $315,475. The lowest priced listing is $129,900 The highest is $528,500. The average market time for these properties is 46 days.

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Maple Valley Bank-Owned Listing Report

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Maple Valley Bank-Owned Listing Report

This information is for Single Family Homes in the greater Maple Valley area and represents only listings published through NWMLS, and does not take into consideration private or auction sales. Currently On the Market:   11 Average List Price:   $343,936     Highest List Price: $729,900      Lowest List Price: $140,000 It’s often the perception of consumers that Banks will take deep discounts when negotiating to get these listings off their books. While that is sometimes the case, more often, the discount has been made when the bank first took over the property in foreclosure. Here’s a look at recent Bank-Owned sales in our area and List to Sales price ratios: Number Sold: 8 The Lowest:  Listing at $253,000 Sold for $245,000- a difference of about 3% The Highest: Listing at $488,000 Sold for $470,000- a difference of about 3.68% All eight of the homes sold within the last six months, closed between 94.77 to 97.74% of Listing Price. In other words, if you have your eye on a Bank-Owned home, thinking you may get it for ten or twenty percent off asking price, I think you should have a “plan B”-just in case! Colleen Fischesser is the Broker/Owner of RE/MAX Select in Maple

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Buying a Bank-Owned Home in Maple Valley

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Buying a Bank-Owned Home in Maple Valley

Sometimes Bank-owned properties (or those which have gone through foreclosure and are now owned and available for sale by the Bank/Lender/Asset Management Co) are a “good deal” and sometimes they aren’t. Here are a few tips if you’re looking at Bank-owned properties in our local market: If you’re looking to purchase a bank-owned property in Maple Valley, enlist the help of a professional who knows this  market , can help you determine whether the deal you think you’re getting is really as good as you think. An experienced professional can also help you navigate the Bank-owned purchase process. These companies will often have their own forms and “quirky” requirements. Make sure you understand all the implications before signing on the dotted line Do your due-diligence, talk with the neighbors, find out about all “the skeletons“, if any,  before you buy. Sometimes the bank will have conducted an inspection of the property but there are things even an inspector cannot find….for instance flooding in the back yard, past leaks or plumbing problems now undetectable.  Hire your own inspector! Even if he/she finds nothing, it will be money well spent on future peace of mind. Colleen Fischesser is the Broker/Owner of RE/MAX Select

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