Bellevue Washington Real Estate News - Bellevue WA Real Estate Investment

Builders and Developers offering big incentives to buyers

bellevue-washington — Mon, 29 Oct 2007 20:28:15 +0000

There was an interesting article in the Seattle-Times newspaper today about the enticements being offered by area developers to potential buyers. To read the article in its entirety please click here. While the Puget Sound region has avoided the steep decline in property values that many areas around the country have seen, anyone who works in real estate will probably tell you their production has dropped substantially. There is considerably more inventory on the market today than this time a year ago and many sellers and listing agents have resorted to lowering prices and/or other creative incentives to attract buyers.

Builders and developers traditionally try to avoid reducing the purchase price in order to avoid the backlash of homeowners who have already purchased a home in the community. No one wants to find out that their neighbor just purchased a home either very similar or identical to theirs for $25,000 less. Instead, builders will offer all sorts of enticing goodies to get potential buyers to sign on the dotted line. These can include free upgrades to higher end finishes, big screen TVs, custom closets, or a buyers bonus to help cover closing costs. Of course, if the home or condo your clients are considering isn’t offering any incentives it does not hurt to ask!

Foreclosure Auction “Week in Review” for 10/12/2007

bellevue-washington — Fri, 19 Oct 2007 17:17:59 +0000

Last Friday was a very active day at the auction. Take a look at the numbers:

AUCTION STATISTICS - King, Pierce, Snohomish, Kitsap Counties

Sold at auction to 3rd party 38

Reverted back to beneficiary 105

Discontined 325

As lender REO portfolio’s continue to increase we are still seeing beneficiaries lowering their opening bids in the hopes of attracting more bidders at the auction. Many times the opening bid amount is not published or announced until right before the auction starts for that property so many investors or bidders are not prepared to bid on the property and it ends up reverting back to the lender. These are golden opportunities to purchase these properties for steep discounts but you or your clients need to be prepared beforehand to be able to jump when the chance comes.

If you or your clients are interested in learning more about investing at the auction including how they can gain access to our funding partners who can finance up to 90% of the purchase price at the auction visit RealEstateInvestmentFirm.com

Lenders Discounting Their Opening Bids at the Foreclosure Auction

bellevue-washington — Fri, 12 Oct 2007 17:42:27 +0000

As foreclosures around the country continue to climb each and every month, we here at www.realestateinvestmentfirm.com have noticed a trend emerging at the local foreclosure auctions. Many lenders are experiencing a dramatic rise in their REO portfolios and as a result many Beneficiaries are lowering their opening bids in hopes of attracting more bidders at the auction. For the savvy investor, this presents a very real opportunity to purchase foreclosure auction property at a substantial discount. The following example is from the trustee sale auction held last Friday, October 5th 2007 in King County, Washington.

This properties last market sale occurred in August 2006 for $350,000. At the time of auction last Friday, the beneficiary, Argent Mortgage Co., was owed approximately $375,399.46 to satisfy the mortgage. When bidding was opened on this property Argent surprised everyone and set their opening bid at $254,250.00. The property ended up reverting to the beneficiary for the opening bid price of $254,250.00

As mortgage defaults continue to rise we predict there will be many more buying opprortunities like the above example. Buying property at the foreclosure auction is not for the faint of heart, but as you can see, the rewards can be extraordinary.

Introduction | Meet the RISMedia Local News Author for Bellevue Washington

bellevue-washington — Mon, 24 Sep 2007 03:18:04 +0000

RISMEDIA, Septmeber 23, 2007 — We’re happy to announce Matt Steel of Real Estate Investment Firm as our local author and sponsor for Bellevue Washington real estate news and information. In the coming months he’ll be covering everything from general market trends and conditions to city news and events.

Matt Steel and his team of real estate specialists are real estate wholesalers, agents and foreclosure specialists. They work with owners of properties that are distressed because of factors like foreclosure, divorce, job loss, vacant properties and similar events to create the best real estate transaction possible. Their specialty is helping people find good Bellevue Washington real estate at a reasonable price, creating instant equity.

If you’re looking to buy or sell a home in Bellevue Washington, find out more information about the area or are just curious, subscribe to the feed and stay tuned for much more from your Bellevue Washington real estate investment firm.