Condos In Foreclosure, Downtown Seattle

Interior 2

You may have noticed over the years that we've spent a significant amount of time tracking condo foreclosures. During 2009-2012 there were hundreds of foreclosures in Downtown Seattle. Leading up to 2007, there were a lot of investors buying condos in the Seattle market. These included second home buyers, owners looking to rent their space and speculative buyers looking for a … [Read more...]

Seattle Condo Foreclosure, Once Listed At $1,050,000, Sold For $622,200

2200 Westlake Exterior

If you blinked, you would have missed the best sale of the year. It happened on Friday at the King County Foreclosure auction in Bellevue. It was a 2 bedroom at 2200 Westlake on the 15th floor. In 2007, it was listed as high as $1,050,000.  In August of 2010 it was listed at $825,000.  The unit sits atop the Pan Pacific Hotel and has 1,407sf with cherry hardwoods, granite … [Read more...]

Lumen 1 Bedroom, Last Sale $343,856, Now $206,159

Lumen

I've been keeping my eye on the foreclosure market and unit 110 at Lumen caught my attention this week. It was purchased in May of 2007 for $343,586 and now its scheduled at todays auction with a minimum bid of $206,159. I would necessarily jump at this particular purchase, but for $206,000 there are a lot of worse places to put your money right now too. The only downside … [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...]

2 Bedroom Condo, Last Listed At $499,000, Minimum Auction Bid $258,571

98_UNION

There is a 2 bedroom unit at 98 Union that is headed to the foreclosure auction tomorrow. Last listed in 2010, the owners of the 967sf unit were asking $499,000 - now it has a minimum bid price of $258,571. It should have multiple bidders at this price. The last 2 bedroom sale in the building was back in July - Unit #1106 98 Union is located next to Four Seasons on 1st … [Read more...]

Foreclosure Auction Highlights – 12/14/12

Condo Foreclosures

There were a few highlights from yesterday's foreclosure auction. 2 condos that stood out to me the most were: 500 Elliott Ave W #308, Seattle Elliott Condominiums Did the bank really want to sell this at the auction yesterday? Unit #308 at the popular Elliott Condos in Queen Anne never sold yesterday. The 626 sq ft unit went back to the bank and I don't think it … [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...]

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...]

Bank Owned Loft, Once Listed At $2.45 Million, Now Selling At $1,549,000

Banner Building #403:#404_web

Do you remember this unit?  We wrote about it back in October of 2011 just before it went to the public foreclosure auction. It is a 3,798 square foot loft in the Banner Building in Belltown.  It was once listed as high as $2,450,000 and now is selling it for $1,549,000. This unit is insane. Although the pictures don't reveal much, I can promise you that the unit itself … [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...]

Condo At Avenue One In Belltown, Last Sold at $287,000, Auction Price of $133,550

Two blocks to Seattle's flourishing waterfront, Avenue One is on

  Foreclosures have been a little quiet lately (holidays, foreclosure settlement etc...). With that said, I always try to keep an eye on the market in case something pops up. Unit #601 at Avenue One is schedule to be auctioned off tomorrow morning. It originally sold for $287,0oo in 2005. The minimum bid is set for $133,550 (Bank of America). We'll have to wait and … [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...]

Ponzi Scheme Leads To Sale Of Millennium Tower Condo (Foreclosure Auction)

Unit #1506 _ C/O Lister/Parmenter

There is a condo going to foreclosure auction this Friday and its in one of the most luxurious buildings in all of Seattle - Millennium Tower.  What makes this foreclosure unique is not just the property itself, but the Ponzi scheme that surrounds the person that bought it. Do you recall the story of Meridian Mortgage Investor Fund?  The founder Frederick Darren Berg, a … [Read more...]