Kirkland WA Bank Owned Market Statistics for January 2010
| Active: 16 | Pending: 12 | Sold: 5 | Other: 0 | Total: 33 |
| Bedrooms | Bath | Sqft | List Price | Selling Price | DOM | |
| Minimum | 2 | 1.00 | 770 | $195,000 | $263,400 | 4 |
| Average | 4 | 2.39 | 2,288 | $468,463 | $378,880 | 66 |
| Median | 4 | 2.50 | 1,700 | $354,900 | $363,000 | 32 |
| Maximum | 6 | 5.00 | 4,410 | $1,250,000 | $540,000 | 424 |
| Total Dollar Value | $1,894,400 |
| Average DOM Breakdown and Average % of List Price received on Solds by Market time: | ||||||
| 0-30 Days | 31-60 Days | 61-90 Days | 91-120 Days | 120+ Days | |
| No. of Listings | 4 | 1 | 0 | 0 | 0 |
| Breakdown % | 80.00 | 20.00 | 0.00 | 0.00 | 0.00 |
| Avg SP % LP | 98.62 | 94.11 | 0.00 | 0.00 | 0.00 |
Foreclosure sales begin with a minimum bid that includes the loan balance, any accrued interest, plus attorney's fees and any costs association with the foreclosure process. In order to bid at a foreclosure auction, you must have a cashier's check in your hand for the full amount of your bid. If you are the successful bidder, you receive the property in "as is" condition, which may include someone still living in the property. There may also be other liens against the property.
Since what is owed to the bank is almost always more than what the property is worth, very few foreclosure auctions result in a successful sale. Then the property "reverts" to the bank. It becomes an REO, or "real estate owned" property.
If your looking for a detailed list of REO(Bank owned real estate)properties, simply sign up to receive Kirkland WA Bank Owned homes & property updates.
