Bank Owned Homes in Bellevue WA   I have broken down Bellevue'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 $489,995 $587,500 & $509,950 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.

Bellevue WA Bank Owned Market Statistics for April 2010:
 Active: 14  Pending: 7  Sold: 10  Other: 0  Total: 31

   Bedrooms  Bath  Sqft  List Price  Selling Price  DOM
 Minimum  3   1.00   860   $224,900   $225,000   5 
 Average  3   2.37   2,339   $474,344   $454,986   48 
 Median  3   2.50   2,210   $474,900   $489,995   36 
 Maximum  5   3.50   4,690   $899,000   $701,000   305 
 Total Dollar Value           $4,549,860   
 
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   7    1    1    1    0 
 Breakdown %   70.00    10.00    10.00    10.00    0.00 
 Avg SP % LP   99.36   100.16   100.04    93.10    0.00 


Bellevue WA Short Sales(Preforeclosures) Market Statistics for April 2010:
Active: 43  Pending: 83  Sold: 13  Other: 0  Total: 139

   Bedrooms  Bath  Sqft  List Price  Selling Price  DOM
 Minimum  0   0.00   870   $259,950   $355,000   2 
 Average  4   2.44   2,499   $592,091   $662,231   75 
 Median  4   2.50   2,060   $495,000   $587,500   53 
 Maximum  6   5.75   7,810   $1,600,000   $1,310,000   426 
 Total Dollar Value           $8,609,000   
 
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   4    2    1    2    4 
 Breakdown %   30.77    15.38    7.69    15.38    30.77 
 Avg SP % LP   96.93    96.92    90.98    99.39    96.98 

Bellevue WA Non-Bank Owned/Shortsale Market Statistics for April 2010:
Active: 427  Pending: 168  Sold: 57  Other: 0  Total: 652

   Bedrooms  Bath  Sqft  List Price  Selling Price  DOM
 Minimum  2   1.00   780   $224,950   $249,000   0 
 Average  4   2.84   2,999   $997,690   $815,382   82 
 Median  4   2.50   2,610   $649,000   $509,950   45 
 Maximum  10   8.00   10,740   $9,750,000   $6,400,000   690 
 Total Dollar Value           $46,476,752   
 
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   30    8    4    1    14 
 Breakdown %   52.63    14.04    7.02    1.75    24.56 
 Avg SP % LP   97.03    95.18    95.78    91.32    86.78 

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.

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

Five Star Professional 2012



by Dan Edwards find me on Google+

Eastside Real Estate Blogger

Dan Edwards provides a superior level of real estate services to home buyers and sellers in the Greater Eastside of the Seattle Area. Visit The Eastside Real Estate Guy to search for homes in Redmond, Kirkland, Bellevue, Maple Vally, Newcastle, Issaquah, Sammamish, Snoqualmie and surrounding areas.

 Whether your real estate needs are big or small, know that you can turn to me in confidence to ensure a five star experience!

Dan Edwards, REALTOR, GREEN, CDPE, CNE 425-200-4093

 

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1 Comments on Bank Owned Homes in Bellevue, WA 206-818-8816

MAY
04
2010
655,774 Points 10 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Dan!  I see you are only 400 points from reaching that big 100,000 point milestone......congratulations in advance!
4:31pm • #1


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