Home : Blogs : South King County Broker/Owner Colleen Fischesser 425-432-5400 : Colleen & Co

South King County Bank Owned Market Report

In the real estate industry, we refer to Bank Owned properties as "REOs". REO stands for Real Estate Owned. I don't understand why they're referred to as that because afterall, isn't all real estate owned....by someone?

REO property inventory has certainly had it's impact on both the Residential and Commercial market across the country, and the South King County market is not immune.

Here's what's going on with REO properties in South King County*

Active Listings: #134 Average List Price: $287,119 High Price: $999,900 Low Price: $269,450

Pending Listings: # 162 Average List Price: $234,883 High Price: $700,000 Low Price: $223,950

Sold Listings #346 Average Sales Price: $237,036 High Price : $690,000 Low Price: $224,500

*This Market report is for single family homes listed in Auburn, Federal Way, Enumclaw, Black Diamond, Covington, Maple Valley, Renton and Kent and represents only properties listed and sold through NWMLS. Sold listings are for last 6 months only.

_______________________________________________________________________________________________

Colleen Fischesser is the Broker/Owner of RE/MAX Select Real Estate. She has been successfully helping clients buy and sell real estate in the greater Seattle area since 1990 and specializes in South East King County including the communities of Covington, Renton, Auburn, Kent, Ravensdale, Black Diamond & Maple Valley. Voted by clients and industry professionals as one of Seattle Magazine's 5 Star, Best in Client Satisfaction for 4 years running, she and her team rank in the top 50 of RE/MAX teams in the entire Northwest region. Colleen is committed to remaining on the cutting edge of real estate marketing and technology while providing value-added, personalized service.

_______________________________________________________________________________________________

Behind on Payments? We May Be Able to Help!

Find out what your home is worth today?

Find My Dream Home!

Posted by South King County Broker/Owner Colleen Fischesser 425-432-5400 on 10/17/2009 06:51 PM

Comments (6)

South King County Real Estate in the Regional (Localism) Channel

bank owned homes, south king county real estate, foreclosures in king county

This post has been included in Washington Information King County, WA Information
Post is included in group: Posts to Localism

6 Comments on South King County Bank Owned Market Report

OCT

Colleen - Thanks for the information around your area!

Great report! Are you ready for the Kent Valley flooding? I have noticed home values have really taken a hit in areas that may be effected.

Dan, I certainly hope it's not going to be as bad as they predict. Someone told me today that they'll be letting some water out of the Dam this weekend. It's a pretty scary thought though.

Colleen....Great post! I'd love to do this for my market, but it would take a full time person to do it....some of the agents list REO as foreclosure and some list it as a "corporate owner" but that does not mean it's a bank-owned property.

I just know there are plenty of them!