Seattle Foreclosures offer excellent value to new buyers. However, it’s important to understand the typical price range of a foreclosures in Seattle. Typically, you’re looking at most good Seattle foreclosures selling above $400,000. There are a few Seattle foreclosures between $400,000 – $500,000 and then under that the numbers begin to dwindle.
Part of this derives from the owner’s ability to carry the home. More expensive homes are more difficult to hold and, with the loss of certain jobs, these more expensive Seattle foreclosures have become available. Less expensive foreclosures in Seattle, however, have been a little easier to hold and these owner’s are waiting for the market to turn before selling.
If you’re in the market for Seattle foreclosures, consider a few things:
Are you willing to buy a distressed Seattle foreclosure and treat it as a fixer-upper?
There are inexpensive bank-owned foreclosures in Seattle but these homes can require some work. An adventurous buyer willing and able to buy one of these inexpensive foreclosures in Seattle and fix it from the ground up could make a lot of money in the long run.
Are you willing buy a Seattle foreclosure above $500,000?
The Seattle housing market has yet to rise and many Seattle foreclosures above $500,000 are becoming more and more appealing. For those buyers with the means, looking at these foreclosures in Seattle could allow you to buy a home at 10-15% below market value.