There is a healthy debate right now on the impact of bank owned properties in the Seattle and Bellevue condo market. I personally believe they are presenting a pretty compelling buying opportunity. Some of them are priced well below market. In this week alone, 3 bank owned 1 bedroom condos hit the market at Washington Square. Keep in mind that not all bank owned properties are a good deal. It is critical that you do your homework both on the building and the unit itself before making a purchase.
Here is a look at the listings if you’re interested:
Unit #621 (we posted about this unit just a few days ago. It is now under contract. Sold in less then 5 days)
Unit #1623 (This just hit the market yesterday)
Unit #1503 (Hit the market on Friday)
BUILDING INFORMATION & UCS PROJECT GRADE
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