The Neighborhood Foreclosure Kirkland Redmond Bellevue Washington

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Industry Observer with Retired

The Neighborhood Foreclosure Kirkland Redmond Bellevue Washington

It all started innocently enough.

A house just up the street from me in a nice neighborhood in Kirkland, Washington. www.philipleng.com

The house had been for sale for a long time, at a price that seemed high. The price dropped gradually over a period of 9 months, but obviously, the house did not sell. Eventually the sign came down, and the house went dark.

The yard grew overgrown and it began to look dismal. The neighborhood association had discussions about fining the owner of the house for not keeping the yard up, but at that point no one knew who the owner was. https://www.djc.com/news/re/12002089.html?query=foreclosure+blight&searchtype=all

During this time, the foreclosure process ground its way to completion. One day, on the county courthouse steps, the house quietly changed ownership. The house now belonged to the bank. It had become the latest neighborhood foreclosure in Kirkland. www.seattlereoteam.com

Then after a period of many months, a real estate sign appeared in front of the house! It was for sale again. This time for $100,000 less than it was before. It was a neighborhood foreclosure - a bank owned house.

Has that ever happened in your neighborhood?

I called the agent and asked if I could hold it open. He said, "Sure!" So I held it open 4 times in two weeks. Got two different offers on the house. The folks making the offers thought they could steal the house now that the bank owned it. Much to their surprise, the bank did not even counter! They had their own price that they would accept, and it was higher than either of these offers. So, can you not just offer any price you want on your neighborhood foreclosure? The bank doesn't want the house right? Why won't they just take any price you offer them? www.buybargainbankhomes.com

Come to find out, there is a lot to know about foreclosures and the process, and how it happens and how the bank comes up with the price and the entire offer process. Whether it is in Kirkland, Redmond, Bellevue or other upscale neighborhoods, or whether it is in what you consider a not so nice neighborhood, you need help in making the offer, the process of presenting the offer, what is the same as a regular offer and what is dramatically different, and how to actually end up with a neighborhood foreclosure, a bank owned bargain. www.buybargainbankhomes.com

But the story behind the scenes! What was the story in this particular case, in this particular neighborhood?

Well, it started with a divorce. After that, the same two incomes were trying to support two houses separately, when before it was two incomes for one household. So things were tight.

So tight, in fact, that apparently one of the spouses started dipping into the till at work. In a big way! Apparently the embezzlement had reached close to a million dollars!

Guess what? They got caught! Now one spouse is in jail. The payments on the house cease. It goes into foreclosure. Even in a good neighborhood in Kirkland.

 Every foreclosure has a story. The loss of the American Dream. This is the story of the house in my neighborhood.

This neighborhood foreclosure house did sell eventually. There were eventually seven offers on the house. The new owner got a great deal.

And the grass is mowed again.

Philip Leng  www.philipleng.com

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Rainer
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James Locklear
Online Marketing Advertising Consultant - Seattle, WA
Social Media Training , Virtual Services, Search Engine Optimization Lattitude - SEOL

I'm sure many people look at this as a business opportunity, but to me it is very sad.  After reading your blog I lost my objective view and embraced the disaster it was - a family broken, a married couple set asunder, kids disoriented.  Then I remember that the biggest tree in the forest eventually falls, to feed the cycle of nature.  But this is NOT the same.  Still makes me sad, my friend.

Dec 17, 2009 04:16 AM #1
Rainmaker
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Phil Leng
Retired - Kirkland, WA
Phil Leng - Retired

When you hear of hundreds of thousands of foreclosures each month, remember that each and every one is a disaster. At the very least of the dream of homeownership. Usually much more severe than that.

Dec 17, 2009 04:26 AM #2
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Rainmaker
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Phil Leng

Phil Leng - Retired
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