Amazing Homes Are to Be Had at the Kirkland Foreclosure Auction

Many agents will avoid looking for foreclosure homes simply because the process to the inexperienced can be complicated. For a real estate agent who needs to earn a commission to pay the bills, trying to find a foreclosure for a buyer when they aren’t sure of the process doesn’t make for an attractive option.

A popular myth is that buying a foreclosure home will mean you end up with a very damaged property that will require tens of thousands of dollars in renovation. This simply is not true. Completely not true.

Every week, our team at Vestus filters all foreclosure homes down to our top 30 picks and of those, only few require anything more than “lipstick” to make livable.

Perfectly great homes are available every single week at bank auctions.


You Need to Work Only With Brokers Who Have Specialized Experience and Knowledge

If you decide that you want to explore the opportunities found in foreclosure homes, then you must work with a real estate broker who is experienced in helping buyers find and purchase foreclosures.

The process for buying a foreclosure is different from buying a regular home… and you need someone who can explain all the details to you, protect you from making a costly mistake, and help you create the right financial strategy to make sure you come out ahead.

Not to brag, but our team at Vestus has over 9 years of experience and we have helped buyers and investors purchase over 5,000 foreclosures at bank auctions. We have seen all the mistakes that could be possibly made, and have a system and process in place that works.

The smartest real estate agents automatically refer their clients to us when they know foreclosures are specifically their criteria.

You owe it to yourself to explore what kind of opportunities exist with purchasing a foreclosure home.


You Can Find “Your Perfect Deal” in Only Days and Have Very Little Competition

While searching the MLS and regular market with a real estate broker who is limited to what other brokers are listing can mean it will take you weeks and weeks if not months of searching for the perfect deal…

Working with Vestus means you will have the all the data of every single foreclosure home going to auction and will be able to sift through everything within your desired geography in minutes. Know what your top 10-15 picks are in a couple hours. Conduct an analysis with our team at Vestus within a couple days. And know what your best deals are to target that week without any doubts.

Very few buyers take advantage of this opportunity and our buyers have very little competition at the auction. Often time we see fantastic deals simply not even be bid on because there weren’t any buyers.

Prices Have Nearly Hit Bottom

Bellevue bank owned properties are providing a big opportunity to buyers and investors because alike as prices start to nearly hit bottom. While there is a supply of inventory coming from the banks, there is also rapidly growing buyer demand.

The Bellevue area is historically one of the strongest markets in the Washington state for maintaining property values with a vibrant downtown community, great school districts, homes that still actually have yards, and you would find yourself only 10 minutes away from either a bustling downtown Bellevue or the serenity of nature trail for a hike.

The current low of home prices in Bellevue are now meeting strong support from buyers who are attracted to the above mentioned qualities and have maintained price support throughout the summer. The best priced opportunities are to be found in looking for bank owned properties which are usually selling for $0.80 to $0.65 on the dollar and will create the most equity for a buyer.

Mortgage Rates Won’t Go Any Lower

One of the most important factors in trying to purchase a property, whether you are buying a home or an investment, is factoring in the cost of your mortgage. With mortgage rates at an all time low, they are likely to meet strong support and start rising again.

The market has started to see fresh support with new demand from buyers who are sensing opportunity and want to take advantage of it before rates rise.

Locking in a mortgage rate at current lows will save tens of thousands of dollars over the lifetime of the loan. Being able to couple those savings along with the financial opportunity in buying bank owned properties creates a strong win for any buyer.

 
It’s a Buyer’s Market

Going off of the last point, right now is one of the strongest buyers markets that we have seen yet. Many of the properties on the market have been listed for long periods of time which has created pools of motivated sellers.

For many sellers, who bought at the height of the market, the ability to cover the cost of living isn’t a reality anymore and they are extremely motivated to work with any serious offer… if not in some cases desperate and would even split costs at closing.

Stronger yet are the opportunities in looking through bank owned properties which are already past a lengthy and complicated short sale process. Working with an experienced bank auction broker, like us at Vestus, is the key to picking the right property and developing a smart financial strategy.

Know What You Are Financially Capable Of

Finding a smart deal by searching through King County foreclosure homes has been providing great deals to a small number of buyers and investors. One of the biggest mistakes buyers and investors make when searching through potential deals though is simply jumping on any property that “looks nice” or “is in a nice area”.

You have to first know exactly what you are financially capable of, create an exact criteria that fits your personal situation, and stick to it. This will ensure that you do less work in filtering through deals because you will have  a tighter criteria and you will be able to make much better decisions for your future.

Work With A Broker Who Has Foreclosure Experience

You can do an online search and find information on King County foreclosure homes throughout numerous websites… the risk is not knowing how accurate the data is. We have seen many horrible mistakes made by buyers and investors because they unfortunately didn’t have accurate data.

Having a good criteria without having the right data to filter through that criteria will still produce poor results. Most real estate brokers use recycled sources of data and have not control over the accuracy. Our team has created the closest thing to an “mls for foreclosures”.

In addition to collecting all the data ourselves directly from trustees and county information, we also conduct rigorous due diligence by physically visiting every single property and verifying that all data matches reality.

This ensures that every decision our buyers and investors make is completely accurate.

All Foreclosure Properties Go To Auction on Friday

You can find King County foreclosure properties available for bid every single Friday at the county courthouse steps. With consistent inventory to choose from, both buyers and investors can define exactly what kind of property they are looking for and simply wait for it to show up at auction at the right price.

Also, with little competition at the auction, many of the deals that come along weekly simply go back to the bank with no bid and will be reentering the market as an REO which will be listed for a much higher price than the minimum bid that was available at the auction.

A weekly supply of smart deals along with currently low competition makes it possible to find the perfect home for a buyer in short order and the 3-5 perfect investments a month for an investor.

Create a Criteria and Stick to It

Our team has a specific criteria that we filter every single property through to choose our Top 30 for the week. Having your own criteria in place, whether you are flipping vs renting or targeting first time buyers vs large families, will make it easy for you to filter through the Top 30 to decide if there are any matches.

If you find a match then simply conduct your due diligence, have a strategy meeting with one of our team, and decide if the property is the right deal for you.

If it is, establish a maximum price you are willing to pay, and do not bid over that price if you find a competition for it. There will be more deals to be had the next Friday and the Friday after that.

The key, as our team likes to say, is being in the business of knowing what not to buy. Everyone knows that real estate is a solid investment over the long term. Having a criteria in place that is suitable to your goals and sticking to it will position you to take advantage of the current opportunity.

Mortgage Rates Are Not Going Any Lower

You can invest in King County bank owned properties with mortgage rates that are at historic lows and will save you tens of thousands of dollars over the lifetime of the loan. These savings coupled with current discounted prices available with bank owned properties make for a perfect time to invest right now.

A fresh supply of demand from first time buyers who weren’t able to purchase before due to either unaffordable rates and/or home prices being too high, are now finding that it is a strong buyers market.

These buyers are starting to enter the market in droves as shown by numbers of offers being written by real estate brokers currently compared to this time last year. Fresh demand means price support and also a coming shift in mortgage rate trends.

Flood of New Renters Entering Market

Buying bank owned properties in King County will position yourself to supply a rapidly growing demand for new home renters who used to be hardship stories and are now fixing their credit and have stable jobs again.

All the people who went through foreclosure in the past few years are usually middle class, back bone of America families who simply found themselves financially over extended and victims of the real estate bubble.

An overwhelming majority of these previous hardship stories are now putting the pieces back to together again and are re-entering the market as home renters who need something more than a two bedroom apartment due to kids.

Owning a property in an area that is seeing a strong growth trend in rental search means that finding a renter and cash flowing a property won’t be difficult.

Smart Deals Available Every Week

In King County, all bank owned properties go to auction every single Friday on the county courthouse steps. Creating a criteria that fits your real estate investment strategy and simply filtering all the properties through that criteria every single week means that you can identify great deals with only a couple of hours of work per week.

Working with most real estate brokers will be an exercise in frustration since they are not experienced with purchasing properties at the auction and they don’t have reliable sources of data.

The team at Vestus has real time data available on all bank owned properties going to auction for free to any investor or buyer. This information is also made readily available online and can be viewed 24/7 as it is updated in real time.

Every single week there are opportunities entering the market. Simply weeding through them to find your best fits and conducting your due diligence will provide results in short order.

Know What You Are Financially Capable Of

Finding a smart deal by searching through Snohomish County foreclosure homes has been providing great deals to a small number of buyers and investors. One of the biggest mistakes buyers and investors make when searching through potential deals though is simply jumping on any property that “looks nice” or “is in a nice area”.

You have to first know exactly what you are financially capable of, create an exact criteria that fits your personal situation, and stick to it. This will ensure that you do less work in filtering through deals because you will have  a tighter criteria and you will be able to make much better decisions for your future.

Work With A Broker Who Has Foreclosure Experience

You can do an online search and find information on Snohomish County foreclosure homes throughout numerous websites… the risk is not knowing how accurate the data is. We have seen many horrible mistakes made by buyers and investors because they unfortunately didn’t have accurate data.

Having a good criteria without having the right data to filter through that criteria will still produce poor results. Most real estate brokers use recycled sources of data and have not control over the accuracy. Our team has created the closest thing to an “mls for foreclosures”.

In addition to collecting all the data ourselves directly from trustees and county information, we also conduct rigorous due diligence by physically visiting every single property and verifying that all data matches reality.

This ensures that every decision our buyers and investors make is completely accurate.

All Foreclosure Properties Go To Auction on Friday

You can find Snohomish County foreclosure properties available for bid every single Friday at the county courthouse steps. With consistent inventory to choose from, both buyers and investors can define exactly what kind of property they are looking for and simply wait for it to show up at auction at the right price.

Also, with little competition at the auction, many of the deals that come along weekly simply go back to the bank with no bid and will be reentering the market as an REO which will be listed for a much higher price than the minimum bid that was available at the auction.

A weekly supply of smart deals along with currently low competition makes it possible to find the perfect home for a buyer in short order and the 3-5 perfect investments a month for an investor.

Create a Criteria and Stick to It

Our team has a specific criteria that we filter every single property through to choose our Top 30 for the week. Having your own criteria in place, whether you are flipping vs renting or targeting first time buyers vs large families, will make it easy for you to filter through the Top 30 to decide if there are any matches.

If you find a match then simply conduct your due diligence, have a strategy meeting with one of our team, and decide if the property is the right deal for you.

If it is, establish a maximum price you are willing to pay, and do not bid over that price if you find a competition for it. There will be more deals to be had the next Friday and the Friday after that.

The key, as our team likes to say, is being in the business of knowing what not to buy. Everyone knows that real estate is a solid investment over the long term. Having a criteria in place that is suitable to your goals and sticking to it will position you to take advantage of the current opportunity.

Mortgage Rates Are Not Going Any Lower

You can invest in Snohomish County bank owned properties with mortgage rates that are at historic lows and will save you tens of thousands of dollars over the lifetime of the loan. These savings coupled with current discounted prices available with bank owned properties make for a perfect time to invest right now.

A fresh supply of demand from first time buyers who weren’t able to purchase before due to either unaffordable rates and/or home prices being too high, are now finding that it is a strong buyers market.

These buyers are starting to enter the market in droves as shown by numbers of offers being written by real estate brokers currently compared to this time last year. Fresh demand means price support and also a coming shift in mortgage rate trends.

Flood of New Renters Entering Market

Buying bank owned properties in Snohomish County will position yourself to supply a rapidly growing demand for new home renters who used to be hardship stories and are now fixing their credit and have stable jobs again.

All the people who went through foreclosure in the past few years are usually middle class, back bone of America families who simply found themselves financially over extended and victims of the real estate bubble.

An overwhelming majority of these previous hardship stories are now putting the pieces back to together again and are re-entering the market as home renters who need something more than a two bedroom apartment due to kids.

Owning a property in an area that is seeing a strong growth trend in rental search means that finding a renter and cash flowing a property won’t be difficult.

Smart Deals Available Every Week

In Snohomish County, all bank owned properties go to auction every single Friday on the county courthouse steps. Creating a criteria that fits your real estate investment strategy and simply filtering all the properties through that criteria every single week means that you can identify great deals with only a couple of hours of work per week.

Working with most real estate brokers will be an exercise in frustration since they are not experienced with purchasing properties at the auction and they don’t have reliable sources of data.

The team at Vestus has real time data available on all bank owned properties going to auction for free to any investor or buyer. This information is also made readily available online and can be viewed 24/7 as it is updated in real time.

Every single week there are opportunities entering the market. Simply weeding through them to find your best fits and conducting your due diligence will provide results in short order.

Lowest Prices for Seattle Condos In Years

Looking over a 10 year price chart, Seattle condos haven’t been this low in years… and that’s just the condos listed on the MLS that are not distressed. Bank owned condos in Seattle are selling at prices that are creating instant equity for buyers.

Being able to purchase a condo with Mount Rainier views and downtown Seattle view for only around $300,000.00 is a reality. Deals like this are coming available on the market at the bank auctions every single week.

When similar condos are not listed for anything less than $450,000.00, bank owned condos are presenting a huge opportunity every week at the auctions for small numbers of buyers. The best part is you don’t have to be an investor with hundreds of thousands dollars to invest… the opportunity is available for even first time buyers.

Lowest Prices in a Historically Strong Market

Sharply lowered condo prices usually scare many people away simply because historically it takes a while for condo prices to recover… but Seattle is historically one of the strongest markets for condos in Washington state and the nationwide as well.

One of the main reasons is the rapidly growing retail and entertainment markets along with job growth in Seattle. With beautiful and modern amenities to be found ranging from entertainment  to a glass of wine and family dining at a host of restaurants… comedy clubs and bustling nightlife entertainment, Seattle condos are in the top picks for the state.

What this means is that low prices are quick to rise again for Seattle condos, compared to most other condo markets in Washington.  In a market that is minutes from the bustle of nightlife in Seattle and from the adventure of nature trails… while surrounded by Lake Washington, the Puget Sound and beautiful forests… bank owned condos are providing a window of opportunity that is being realized by smart buyers.

Strong Demand for Seattle Condo Rentals

Condo rentals in Seattle have some of the lowest vacancy rates of condo rentals across the entire state of Washington. As described above, the community in Seattle is perfect for everyone from singles to families with kids.

Owning a condo that is located in a market that has great school districts and great entertainment while surrounded by beautiful scenery makes it a top pick for buyers and renters alike. Also, new hiring by Microsoft, Google, and Amazon… all only minutes away, is bringing a strong influx of new residents and many of whom prefer to rent.

They can afford to pay premium rents and refuse to settle for anything less than quality of life… making Seattle one of their top picks. Whether you choose to live in a condo or rent it out… either way you will be positioning yourself for a great return on your investment.

Prices are at an All Time Low

One of the biggest barriers for first time buyers to buy in a premium neighborhood is simply a price that is out of range. One of those markets that has been historically hard for first time buyers to enter is Seattle, WA. Now the price barrier has been considerably lowered and many deals can be found by searching through foreclosure properties in Seattle.

With many foreclosure properties available for $0.80 to $0.50 on the dollar, the ability to buy in Seattle is now feasible for first time buyers. Prices, in both the retail market and the bank auctions, have been showing strong support throughout the summer. 

Many buyers are sensing that now is the time to take advantage of low pricing before the trend starts to rise and a coming fresh demand will only serve to bolster prices and values.

Find an Amazing Deal in Days and Have Little to No Competition

If you happen to be working with the right real estate broker… one who is experienced with bank auctions, then finding a foreclosure property to buy in Seattle will not be hard. Working with a team like Vestus will put all the data on foreclosures at your fingertips and you will be able to sift through every opportunity in a matter of hours.

Once you have established which few properties going to auction best fit your criteria, a little deeper digging into the details will show you which will be the best picks, and the next step is to go to an auction.

So few buyers and investors ever take this step that compared to the normal real estate market where properties are listed on the MLS, you will experience very little competition. Many fantastic properties come to auction and are simply not purchased because there wasn’t a buyer available.

Mortgage Rates Are At Rock Bottom

Rates are the lowest that many mortgage brokers have ever seen. Just pick up the phone and call any three mortgage brokers and ask them. All three will tell you the exact same thing.

Low rates spell opportunity for buyers. Saving tens of thousands of dollars over the lifetime of a mortgage is creating demand amongst buyers which is starting to bolster markets.  Coupling low mortgage rates with the savings found in foreclosure properties right now is creating perfect “deals of the decade” every single week for small numbers of buyers who are simply in the know.

You owe it to yourself to explore the opportunity and see what you can qualify for with a mortgage rate and also how you might be able to purchase a bank owned property at the auction.