Bank Owned Homes in Kirkland WA
I have broken down
Kirkland'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 $285,000 $327,000& $484,000
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.
Kirkland WA Bank Owned Market Statistics for April 2010:
1 |
1.00 |
480 |
$211,700 |
$212,500 |
7 |
4 |
2.84 |
2,648 |
$617,102 |
$364,791 |
52 |
3 |
2.50 |
2,150 |
$456,900 |
$285,000 |
46 |
6 |
9.00 |
7,680 |
$3,289,000 |
$715,000 |
116 |
|
|
|
|
$4,012,700 |
|
|
Average DOM Breakdown and Average % of List Price received on Solds by Market time: |
2 |
4 |
4 |
1 |
0 |
18.18 |
36.36 |
36.36 |
9.09 |
0.00 |
100.66 |
94.80 |
88.82 |
100.00 |
0.00 |
Kirkland WA
Short Sales(Preforeclosures) Market Statistics for April 2010:
1 |
1.00 |
600 |
$100,000 |
$225,000 |
0 |
4 |
2.44 |
2,428 |
$592,369 |
$366,545 |
94 |
4 |
2.50 |
2,120 |
$425,000 |
$327,000 |
69 |
6 |
5.75 |
7,280 |
$7,999,000 |
$750,000 |
407 |
|
|
|
|
$3,665,450 |
|
|
Average DOM Breakdown and Average % of List Price received on Solds by Market time: |
2 |
2 |
1 |
2 |
3 |
20.00 |
20.00 |
10.00 |
20.00 |
30.00 |
97.26 |
92.77 |
96.60 |
99.04 |
99.23 |
Kirkland WA Non-Bank
Owned/Shortsale Market Statistics for April 2010:
0 |
0.00 |
570 |
$210,000 |
$260,000 |
1 |
4 |
2.65 |
2,715 |
$847,658 |
$596,963 |
81 |
4 |
2.50 |
2,391 |
$599,000 |
$484,000 |
53 |
13 |
12.00 |
7,920 |
$4,950,000 |
$2,125,000 |
976 |
|
|
|
|
$18,505,860 |
|
|
Average DOM Breakdown and Average % of List Price received on Solds by Market time: |
13 |
7 |
2 |
2 |
7 |
41.94 |
22.58 |
6.45 |
6.45 |
22.58 |
99.72 |
91.69 |
97.18 |
96.08 |
96.19 |
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.
Bellevue 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.
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