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CITY

Select a City: No Preference Aberdeen Acme Adna Airway Heights Algona Allyn Almira Amanda Park Amboy Anacortes Anderson Island Ardenvoir Ariel Arlington Ashford Auburn Bainbridge Island Baring Battle Ground Bay Center Beaux Arts Beaver Belfair Bellevue Bellingham Benge Benton City Beverly Birch Bay Birdsview Black Diamond Blaine Blakely Island Blanchard Boistfort Bonney Lake Bothell Bow Bremerton Brewster Bridgeport Brier Brinnon Brush Prairie Buckley Bucoda Burbank Burien Burlington Camano Island Camas Carbonado Carlsborg Carlton Carnation Carson Cashmere Castle Rock Cathlamet Center Island Centralia Chehalis Chelan Cheney Chewelah Chimacum Chinook Cinebar Clallam Bay Cle Elum Clear Lake Clinton Clyde Hill College Place Colville Conconully Concrete Connell Conway Copalis Beach Copalis Crossing Cosmopolis Cougar Coulee City Coulee Dam Coupeville Covington Cowiche Crane Island Creston Curlew Curtis Cusick Custer Cypress Island Danville Darrington Davenport Decatur Island Deep River Deming Des Moines Doty Dryad Dryden Dupont Duvall East Olympia East Wenatchee Easton Eatonville Edgewood Edmonds Elbe Electric City Ellensburg Elma Elmer City Entiat Enumclaw Ephrata Ethel Evans Everett Everson Fall City Federal Way Ferndale Fife Fircrest Ford Forks Fox Island Freeland Fruitland Galvin Gardiner George Gifford Gig Harbor Glacier Glenhaven Glenoma Gold Bar Goldendale Graham Grand Coulee Grand Mound Granger Granite Falls Grapeview Grayland Grays River Greenacres Greenbank Greenwater Guemes Island Hamilton Hansville Harrah Harrington Hartline Hat Island Henry Island Hobart Hood Canal Hoodsport Hoquiam Humptulips Hunters Hunts Point Ilwaco Inchelium Index Indianola Issaquah Joyce Kahlotus Kalama Kapowsin Keller Kelso Kendall Kenmore Kennewick Kent Kettle Falls Keyport Kingston Kirkland Kittitas Klickitat La Center La Conner La Push Lacey Lake Cle Elum Lake Forest Park Lake Stevens Lake Tapps Lakebay Lakewood Langley Leavenworth Lebam Liberty Lake Lilliwaup Lincoln Lind Long Beach Longbranch Longview Loomis Loon Lake Lopez Island Lummi Island Lyle Lyman Lynden Lynnwood Malaga Malo Malone Malott Manchester Mansfield Manson Maple Falls Maple Valley Marblemount Marcus Marlin Marysville Matlock Mattawa Mazama Mccleary Mckenna Mead Medical Lake Medina Menlo Mercer Island Mesa Methow Mill Creek Milton Mineral Moclips Monitor Monroe Montesano Morton Moses Lake Mossyrock Mount Pleasant Mount Vernon Mountlake Terrace Moxee Mukilteo Naches Nahcotta Napavine Naselle Neah Bay Neilton Nespelem Newcastle Newport Nooksack Nordland Normandy Park North Bend North Bonneville North Cove Northport Oak Harbor Oakville Ocean City Ocean Park Ocean Shores Ocosta Odessa Okanogan Olalla Olympia Omak Onalaska Orcas Island Orondo Oroville Orting Othello Oysterville Pacific Pacific Beach Packwood Palisades Parkland Pasco Pateros Pe Ell Pearl Island Peshastin Point Roberts Port Angeles Port Hadlock Port Ludlow Port Orchard Port Townsend Poulsbo Prescott Preston Prosser Puyallup Queets Quilcene Quinault Quincy Rainier Randle Ravensdale Raymond Reardan Redmond Renton Republic Rice Richland Ridgefield Ritzville Riverside Rochester Rock Island Rockport Ronald Rosburg Roslyn Roy Royal City Ruston Ryderwood Salkum Salmon Creek Samish Island Sammamish San Juan Island Satsop Seabeck Seatac Seattle Seaview Sedro Woolley Sekiu Selah Sequim Seven Bays Shaw Island Shelton Shoreline Silvana Silver Creek Silverdale Silverlake Skamania Skamokawa Skykomish Snohomish Snoqualmie Snoqualmie Pass Soap Lake South Bend South Cle Elum South Prairie Southworth Spanaway Spangle Spokane Spokane Valley Springdale Stanwood Startup Steilacoom Stevenson Stratford Stuart Island Sultan Sumas Sumner Sunnyside Suquamish Tacoma Taholah Tahuya Tenino Thorp Tieton Tokeland Toledo Tonasket Toppenish Touchet Toutle Tracyton Tukwila Tulalip Tumwater Twisp Union Union Gap University Place Usk Vader Vancouver Vantage Vashon Vaughn Waldron Island Walla Walla Wapato Warden Washougal Washtucna Waterville Wauconda Wauna Wenatchee West Richland Westport Whidbey Island White Pass White Swan Wilbur Wilkeson Wilson Creek Winlock Winslow Winthrop Woodinville Woodland Woodway Yacolt Yakima Yarrow Point Yelm Zillah Choose a property type: All Property Types Business Opportunity Commercial/industrial Condominium Farm/ranch Manufactured Multi Family Rental Residential Vacant Land

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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SUBDIVISION

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Choose a property type: All Property Types Business Opportunity Commercial/industrial Condominium Farm/ranch Manufactured Multi Family Rental Residential Vacant Land

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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SCHOOL

Enter a School:

Choose a property type: All Property Types Business Opportunity Commercial/industrial Condominium Farm/ranch Manufactured Multi Family Rental Residential Vacant Land

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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ZIP

Enter Zip Code Choose a property type: All Property Types Business Opportunity Commercial/industrial Condominium Farm/ranch Manufactured Multi Family Rental Residential Vacant Land

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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MLS #

Enter MLS Number: MLS Number: MLS Number: MLS Number:

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MAP

Select a Starting Point: No Preference Aberdeen Addy Adna Alderwood Algona Allyn Amboy Anacortes Ariel Arlington Ashford Auburn Bainbridge Island Baring Battle Ground Bay Center Beaver Belfair Bellevue Bellingham Benton City Birch Bay Black Diamond Blaine Boistfort Bonney Lake Bothell Bow Bremerton Brewster Bridgeport Brier Brinnon Brush Prairie Buckley Burien Burlington Camano Island Camas Carbonado Carlton Carnation Cashmere Castle Rock Cathlamet Centralia Chattaroy Chehalis Chelan Cheney Chewelah Chimacum Chinook Cinebar Clallam Bay Cle Elum Clinton Clyde Hill Colville Conconully Concrete Connell Conway Copalis Beach Cosmopolis Cougar Coulee City Coulee Dam Coupeville Covington Cunningham Curlew Cusick Custer Danville Darrington Davenport Deer Park Deming Des Moines Dupont Duvall East Wenatchee Easton Eatonville Edgewood Edmonds Elbe Electric City Ellensburg Elma Eltopia Enumclaw Ephrata Evans Everett Everson Fall City Federal Way Ferndale Fife Fircrest Forks Fox Island Freeland Fruitland Galvin Gardiner Gig Harbor Glacier Glenoma Gold Bar Goldendale Graham Grand Coulee Granite Falls Grapeview Grayland Grays River Greenbank Greenwater Hamilton Hansville Harrington Hartline Hat Island Hobart Hoodsport Hoquiam Hunts Point Ilwaco Inchelium Index Indianola Ione Issaquah Kalama Kapowsin Keller Kelso Kenmore Kennewick Kent Kettle Falls Keyport Kingston Kirkland Kittitas La Center La Conner Lacey Lake Forest Park Lake Stevens Lakebay Lakewood Langley Leavenworth Lebam Lilliwaup Lind Long Beach Longbranch Longview Loon Lake Lopez Island Lummi Island Lyle Lyman Lynden Lynnwood Malaga Malo Malott Manchester Mansfield Manson Maple Falls Maple Valley Marblemount Marysville Matlock Mattawa Mazama Mccleary Mckenna Medical Lake Medina Mercer Island Methow Mill Creek Milton Mineral Moclips Monitor Monroe Montesano Morton Moses Lake Mossyrock Mount Vernon Mountlake Terrace Moxee Mukilteo Naches Nahcotta Napavine Newcastle Newport Nooksack Nordland Normandy Park North Bend Northport Oak Harbor Oakville Ocean Park Ocean Shores Ocosta Odessa Okanogan Olalla Olympia Omak Onalaska Orcas Island Orient Orondo Oroville Orting Othello Oysterville Pacific Pacific Beach Packwood Palisades Parkland Pasco Pateros Pe Ell Peshastin Point Roberts Port Angeles Port Hadlock Port Ludlow Port Orchard Port Townsend Poulsbo Preston Puyallup Quilcene Quincy Rainier Randle Ravensdale Raymond Reardan Redmond Renton Republic Richland Ridgefield Ritzville Riverside Rochester Rock Island Rockport Ronald Roslyn Roy Royal City Ruston Ryderwood Salkum Sammamish San Juan Island Seabeck Seatac Seattle Seaview Sedro Woolley Selah Sequim Seven Bays Shaw Island Shelton Shoreline Silver Creek Silverdale Silverlake Skamokawa Skykomish Snohomish Snoqualmie Snoqualmie Pass Soap Lake South Bend Spanaway Spokane Stanwood Steilacoom Stevenson Sultan Sumas Sumner Sunnyside Suquamish Tacoma Tahuya Tekoa Tenino Thorp Tokeland Toledo Tonasket Toppenish Toutle Tukwila Tulalip Tumwater Twisp Union Union Gap University Place Vader Valley Vancouver Vantage Vashon Vaughn Walla Walla Wapato Warden Washougal Waterville Wenatchee West Richland Westport Wilbur Wilkeson Wilson Creek Winlock Winthrop Woodinville Woodland Woodway Yacolt Yakima Yarrow Point Yelm Zillah Choose a property type: All Property Types Business Opportunity Commercial/industrial Condominium Farm/ranch Manufactured Multi Family Rental Residential Vacant Land

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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Pierce County Foreclosures

The Pierce County Real Estate market has not been immune to the National Foreclosure trend.  In some price ranges and areas we are seeing in excess of 50% of the available homes for sale, listed as either bank owned or short sales.  This situation presents a unique buying opportunity for those interested in purchasing a home for the very lowest price possible.

In order to be successful purchasing a foreclosure or distressed property in Pierce County it's important that you are familiar not only with the foreclosure process, but also the common terms used to refer to each buying opportunity.  Each opportunity presents it's own set of challenges, many of which will be completely out of your control.  Blanket statements about whether foreclosures are good or bad investments cannot be made in this area of Real Estate.  Only by evaluating each specific property and your own situation can you make an intelligent decision whether to buy a foreclosure.

Foreclosure Terms

REO/Bank Owned

Reo stands for "Real Estate Owned".  It's a term used widely in the real estate and banking industry and refers to bank owned homes and real estate.  These are often the very best buying opportunities available in the Pierce County real estate market.  These homes have already been through the foreclosure or deed in lieu process and are now owned by banks or corporations.  These companies are in the business of owning and selling mortgages, not real estate.  Many banks price their reo properties aggressively to ensure a quick sale.

There are some significant downsides to purchasing a bank owned home or real estate.  Banks often do not comply with disclosure requirements.  As they have never lived in the home, they have no knowledge of defects with the home.  Most banks will have an extremely one sided "bank addendum" that they will add to the purchase and sale agreement.  I've seen many that include late fees in excess of $100.00 a day for late closing.  In addition many banks reserve the right to accept a higher offer even after they have signed your offer.  Banks will not entertain your offer unless it is accompanied by a pre approval letter from a lender.  Pre approval is absolutely mandatory when pursuing a bank owned or reo home

For these reasons and many more we recommend all our clients speak with a lender and apply for pre approval status.  It's a very quick process and will benefit you greatly in the negotiation of your new home whether it's an REO, Bank Owned, Short Sale or conventional resale.

Short Sale

A short sale is simply a property that is offered for sale at less than what is owed to a bank, lender or investor.  Most often these sellers are 1 or more months late on their mortgage and are attempting to sell their home before it is foreclosed upon.  Some of the best priced homes you'll find on our mlsfinder site are short sales.  While doing a search of homes just today, over 60% of the homes under $180,000. were short sales in one Pierce County area.  Short sales present an interesting opportunity to purchase a home for less than what is owed by the seller, but they do come with some significant pitfalls.

 Many of the homes you'll find that are listed at "too good to be true" prices are indeed short sales and yes they are in fact, too good to be true, in many cases.  Short sale homes are often priced at rock bottom prices in an attempt to lure unrepresented buyers into submitting an offer.  Buyers that choose to pursue purchasing a home without the guidance of their own buyer agent run the risk of becoming pawns in the short sale game.  Remember the listing agent represents the seller, they are duty bound to work in the seller's best interest.  Most often it is in the seller's best interest to receive an offer...any offer.  Once the listing agent has an offer in hand they can begin negotiating with the bank to determine the real price they will let it go for.  This may or may not be in the same ballpark as the original asking price.

This process can take from one day to several weeks to hear back from the bank if ever.  There are no guarantees when buying a short sale. 

Both Short Sales and Bank Owned/Reo homes can provide excellent buying opportunities for the right buyer.  Knowing the risks and rewards of each will greatly increase your chances of successfully buying a Pierce County Foreclosure.  For a list of short sale or foreclosure properties that fit your needs please completely fill out the form below or call us direct at 253-820-2745

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