Category Archives: Forclosure Houses


Aug

28

2014
Bonus Auction Parcel

Bonus Auction Parcel

For the second month in a row, a Veristone client found excellent value at the foreclosure auction by securing two parcel for the price of one. While performing due diligence on this Pierce County property, the client realized that there was a second unfinished housing frame on the additional parcel that nobody else knew about.  Where other buyers saw a 1,380 square foot home with…

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Jul

09

2013

Edmonds Auction Loan

VERISTONE DEALSHEET LOAN AMOUNT: $272,000FINAL SALES PRICE: $524,950LOAN DATE: November 2012 to June 2013LOCATION: Edmonds, Snohomish County- ResidentialLOAN TYPE: Fix & Flip Loan, 6 Month TermDETAILS:  The borrowers on this Edmonds flip are experienced auction professionals.  The borrowers purchased this property at the Snohomish County foreclosure auction in October 2012 for $251,000.  They then refinanced into a Veristone Fix & Flip Loan in November 2012…

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Jun

24

2013

Buckley Airfield Property Auction Loan

VERISTONE DEALSHEETLOAN AMOUNT: $290,000FINAL SALES PRICE: $475,000LOAN DATE: March 2013 to June 2013LOCATION: Buckley, Pierce County ResidentialLOAN TYPE: Auction Loan, 9 Month Term DETAILS: This very unique property was purchased at the Pierce County foreclosure auction in early March 2013 for $333,000.  This property was purchased by a very experienced real estate investor who works with John L Scott Foreclosure Services.  The house  boasts 2700+ square feet and sits on a…

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Jun

24

2013

Bremerton Auction Loan

VERISTONE DEALSHEET LOAN AMOUNT: $139,000FAIR MARKET VALUE: $280,000LOAN DATE: Funded May 2013LOCATION: Bremerton, Kitsap County ResidentialLOAN TYPE: Auction Loan, 9 month Term DETAILS: The subject property was sold at the Kitsap County foreclosure auction in late May 2013 for $160,000.  The borrower is a highly experienced real estate and foreclosure investor, who specializes in Kitsap, Pierce and Thurston counties.  The subject property is over 2500 square feet and has substantial…

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Jan

14

2013

Ballard Fix & Flip Loan

LIBERTY CAPITAL DEALSHEET LOAN AMOUNT: $310,000 REMODELED SALES PRICE: $681,950 LOAN FUND DATE: June 20th, 2012, Property Sold on November 29th, 2012. LOCATION: Ballard, King County- Residential TYPE: Fix & Flip Loan, 6 Month Term DETAILS: The buyer purchased this property in Ballard for $335,000 in June of 2012.  The buyer proceeded to use Liberty Capital’s Fix & Flip Loan to improve the house and…

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Dec

07

2012

Juanita Kirkland Fix and Flip Sale

[one_half_last] [/one_half_last] Details: The subject property was purchased on July 31st,  2012 and was sold on November 26th, 2012.  The investor was able to move in and out of the property in less than 120 days and put $95,000 into the property while adding a contemporary flair to the common split level floorplan.  The subject property was a 1800 square foot property, 3 bedroom and 2.5 bath. …

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Sep

21

2012

The Housing Recovery, By the Numbers

[break]The past week has seen a host of positive numbers coming out of the national housing market, suggesting that despite receiving little help from a broader economic recovery, the housing market may have finally turned the corner. On Wednesday, the Department of Commerce released its single-family housing start numbers for the month of August. The result – the highest housing start level in 28 months…

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Sep

13

2012

King County Foreclosure Filings Up 32.2% in August

[break]Data from foreclosure tracking firm RealtyTrac shows King County foreclosure filings up 32.2% from a month ago and 34.2% from the same period a year ago. RealtyTrac Vice President, Daren Blomquist, attributed the rebounding foreclosure activity statewide to “…lenders catching up with foreclosures delayed by a state law that took effect in July 2011 and allowed homeowners facing foreclosure to request mediation.” At the national…

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Sep

11

2012

Tacoma Fix and Flip Loan

[break]Washington State’s distressed real estate market offers significant opportunities for local investors seeking to fix up and resell foreclosure auction properties and distressed homes at a profit. Here’s a snapshot of one of our recent deals from Tacoma. [one_half_last][/one_half_last] DETAILS: The subject property was purchased for $117,000 with a $125,000 fix & flip loan through Liberty Capital. The buyer will spend roughly $25,000 on targeted…

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Aug

30

2012

Fannie, FHFA Proceeding “Secretively” With Bulk REO Sales Program

Realtors in California are upset over how Fannie Mae and the Federal Housing Finance Administration are moving forward with their bulk real-estate owned sales program. The California Association of Realtors has complained that the both Fannie and the FHFA are proceeding (despite C.A.R. objections) with the program in a highly secretive way. The bulk REO pilot program is part of multiple efforts by the FHFA, Fannie Mae’s…

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