Seattle cash buyers included three quit claim deeded properties (see previous blog post), bought at 26% of tax-assessed value; and 15 properties bought with Bargain and Sale deeds, most likely purchased at the King County foreclosure auction. These auction properties were purchased at 69% of tax-assessed value. Seven of these auction properties were non-owner occupied, and presumably purchased as an investment.
Of those single family homes purchased for $400,000 or less with a regular warranty deed, cash buyers paid 76% of tax-assessed value. 19 of these 45 properties (42%), were bought by investors as non-owner-occupied rentals.
Thirteen (11%) of the cash purchases in Seattle in the last three months were for properties over $1 million in price. Three of these were not identified as owner-occupied properties - perhaps they are vacation homes for affluent buyers?
Tuesday, May 11, 2010
Related Posts
Rental in SeattleHere is a one-bedroom Lake Washington view rental that is available March 1st, just 2.5 miles from
Announcing: New Real Estate Investment Fund Normal 0 false false false EN-US X-NONE X-NONE
New Real Estate Investment Fund! Normal 0 false false false EN-US X-NONE X-NONE
New Lead Paint RequirementsEffective on April 22nd, the new EPA Residential Property Renovation rules for pre-1978 housing re
Seattle Foreclosure TourYou'd have to be asleep to have missed the fact that home foreclosures are on the rise in Seattle,
Buying Fixer-UppersLooking for bargain properties? Here is another great piece of investor information from my website
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment