1 Bedroom At 2200 Westlake Sells At Auction, Last Price $371,000, Sold for $252,200

2200 Westlake Exterior

The sale of the weekend has to be #w504 at 2200 Westlake. I had been watching this unit for a few months and it finally sold. It had originally been on the auction block in December - the minimum bid price set by the bank was $205,734. 2 months later, the bank set the minimum at $221,995. I'm sure they had done their homework with the market and it appears they had little issue … [Read more...]

Luxury 2 Bedroom Purchased for $1,425,000 in 2008, Sold for $828,927 at Friday’s Auction

One_Lincoln_Views

Remember this post from last Friday? We wrote about unit #3905 at One Lincoln Tower. The 1,516sf condo was owned by Mastro associate Thomas Hazelrigg. On Friday morning the luxury unit was headed to the King County Foreclosure auction. It had a minimum bid of $828,927. Well, it sold. The new owner has to be thrilled. From what I've heard they are going to use the condo as … [Read more...]

Mastro Associate Hazelrigg Is Losing A Condo Today Through Foreclosure

One Lincoln Tower

Thomas Hazelrigg who was a long time friend and business associate of  Mike Mastro has a condo going to foreclosure today. Mastro was the local real estate mogul gone broke that was recently in the news for being apprehended in France by the US authorities. Hazelrigg who made a career of "hard money" lending borrowed millions from Mastro and is now subject to bankruptcy … [Read more...]

2 Bed Seattle Condo Last Sold For $950,000, Now $484,731

Seattle Heights

This is for real. There is a 2 bedroom condo that is going to auction this morning that has an interesting story. It last sold for $950,000 in November of 2006. The minimum bid that Bank of America has set for today's auction is $484,731. Yep. Almost a $500,000 reduction from its last sale price. Unit #2101 is 1,332 sq ft and sits on the 21st floor of Seattle Heights in … [Read more...]

Auction Update: 98 Union Sold, 1 Bed At The Parc Goes Bank Owned

Olive 8 Auction

Quick Update from yesterday's Seattle foreclosure auction (condos): 98 Union St #908 (minimum bid - $258,571) Sale Price - $290,500 2 bed, 2 bath 967 sq. ft. We posted about this unit yesterday. As expected the minimum price was bid up over $20,000. It will be interesting to see if this unit comes back on as a flip or if it is held and rented. 76 Cedar St #704 … [Read more...]

Seattle Loft Headed to Foreclosure, Last Sale $400,000, Now $270,737

Site 17 - 2440 Western Ave 209 #2

Going through my daily property review this morning, I noticed a 2 story loft at Site 17 in Belltown. It was last sold in April of 2006 for $400,000 - now its listed at $270,737 and is headed to foreclosure on Friday. It is 1 bedroom, 1 bath at 873 sq ft. The most interesting feature is the 2 story layout. A stairwell from the living area, takes you upstairs to a bedroom that … [Read more...]

Condos Headed to Foreclosure Auction (2200 Westlake, The Parc)

Condo.Foreclosure

There are 2 condos I've been watching this week as they are schedule to be sold at todays foreclosure auction in Seattle. Unit #S302 at 2200 Westlake (Minimum bid of $384,488) Unit 325 at The Parc (minimum bid had not been released) An interesting side note - Unit #S302 is on the market and pending as a short sale. Typically in these situations, if the bank … [Read more...]

2 Bedroom Condo At the Cosmopolitan, Last Sold at $601,950, Now $380,000

Twilight 2

Looking to buy a foreclosure? Unit #1104 at the Cosmopolitan is headed to auction tomorrow. It is a 2 bed, 2 bath with 1,186 sf.  The last recorded sale was in 2007 for $601,950. Now just 5 years later the bank is offering a minimum bid of $380,000 for the 11th floor unit. Good deal? Take a look at comps and decide for yourself.  If you want my opinion or you want to take a … [Read more...]

Foreclosure Watch – Queen Anne Condo Last Sale $219,900, Now $135,000

500 Elliott Condos - Exterior

Looking for a foreclosure opportunity in lower Queen Anne?  Unit #411 at Elliott Condos/500 Elliott is heading to Fridays public foreclosure auction. It was last purchased in 2006 for $219,900 - the minimum bid at Auction is $135,000. I would estimate the rent to be $1,150-$1,250. Good rental opportunity? I think it is nice to see that these options are back in todays market. … [Read more...]

Top Floor Waterfront Condo, Previous Sale Price of $330,000. Now $103,064

Kirkland_Condo_Forclosure_web

If you follow foreclosures, you may have noticed that there were a very limited number of condos in the last 6 months. That was due in part to the major settlement with the Big "6" banks. During that time, those major banks were not filing notices of trustee. Since the settlement, its clear to me that more and more condos are headed back to foreclosure again - as this activity … [Read more...]

Bellora Penthouse Condo Headed To Foreclosure Auction, In 2005 $1.5 Million, Now $800,000

Bellora Sun Terrace

Wow. You don't see this very often. If I were only in the market for a penthouse right now! One of the Bellora Penthouse units is headed to foreclosure today (public auction).  This Seattle condo located in Belltown was last purchased for $1,495,000 in 2005. As of 9am this morning it has has a minimum bid of $800,000. It is a 2 bedroom, 3 bath unit plus den. It has floor to … [Read more...]

Bank Owned Seattle Condo, Selling At A 59% Reduction of Last Sale Price

Lumen Exterior

Unit M-247 at Lumen just went pending last week after 5 days on the market.  That might not mean much until you consider its history. It was once listed as high as $549,950 after being  purchased in May of 2007  for $449,900. Fast forward a little over 4 years and that same unit is listed at $185,000.  Wow. The bank took back possession of the unit in August of 2011.  Wells … [Read more...]

Follow Up – Millennium Tower Minimum Bid Is $1,351,500 (Last Sale Price $1,950,000)

  Did you catch this post on Wednesday?  Unit #1506 at Millennium Tower is scheduled for auction today and it has a minimum bid from the bank at $1,351,500. The unit was purchased in 2004 for $1,950,500. The owner of the unit is a man charged with running the largest Ponzi scheme in Washington State history.  It will be interesting to see what this unit sells for.  If you … [Read more...]

Queen Anne High School Condo Sells For $131,161

Queen Anne High School Building

Yep, you read that correctly. We initially highlighted this unit last week in our Black Friday post. Unit #316 last sold in November of 2007 for $341,241.   Now, just 4 years later it sold for $131,161; which was "$1" over the minimum bid set by the bank. Some may argue that with the recent developments and the buildings history that this was a risky purchase, but I tend to … [Read more...]