The Puyallup Foreclosure market continues to be a hot market, especially in the $250,000 and under price range. I’m continuing to see multiple offers and stiff competition for the best priced reo homes in the greater Puyallup area.
I recently called on a home that just came back on the market in the Sunrise area. The listing agent informed me they had 7 offers on the home originally which ran the price up $20,000 over list. That’s an impressive amount of activity for any home, but adding another $20,000 onto a bank owned home will often leave you at the current market value. Once you add up the pain in the rear of bank addendums and their “as is” addendums did you really save any money? In this case the answer must have been no, as the “successful” buyers back out and it’s now available.
That home is now back on my foreclosure list that I send out weekly to my website visitors. If you’d like to recieve the list as well each Friday, send me an email to Brett@BrettSellsHouses.com and I’ll send it to you within 24 hrs!
by admin on March 28, 2009
While out previewing a few bank owned homes today for a client I happened across this disaster of a home. At first blush the property looked as though it had some potential but looks can be deceiving.
As I walked up to the home it was clear that the lp siding had failed and was literally flaking off the side of the house. For a home that size you’re looking at $15,000 for replacement. Upon entering. it just got worse starting with the pet stained carpets, broken windows and assorted filth. Normally, I have a pretty sharp eye for a deal but this home was just so far gone and needs far too much work to bother with in this market. There are just too many clean, well priced bank owned homes to choose from to deal with this project.
To make matters even worse for the bank, this home has been adopted as a party house.
Evidence of vandals
Vacant homes are easy targets for vandals
Vandal Damage
Luckily most bank owned homes haven’t seen this level of neglect and vandalism in Puyallup. With a little investigation, we’ve been finding well priced reo listings in good condition for our clients. Most often you can expect to find a bank owned home in need of a good cleaning, some interior painting and nothing more. We’re seeing very good deals for our clients and I’ll continue to target Puyallup bank owned homes as an excellent buying opportunity.
