In spite of easing a bit from prior months, home prices are continuing to experience positive appreciation. The S&P Case-Shiller 20-City Composite index for May (as reported at the end of July) rose 5.2 percent year over year. This accounts for slight slowdown from April’s 5.4 percent increase. The Case-Schiller index tracks changes in the value of residential real estate nationally as well as in…
Every deal is about knowing the numbers! And it’s been said that the most important number is the After-Repair-Value (ARV). Knowing this number before you acquire a property can be the difference between making a great deal versus making a deal you wish you could forget. The majority of discounted properties are usually junk properties, vacant properties and/or fixer-uppers. They’re often in need of many…
A recent Seattle Times article pointed out that a growing number of first time home buyers are looking for their ideal home, farther outside central Puget Sound. The driving force behind this growing trend is scarce inventory and climbing prices in and around King county. According to the Northwest Multiple Listing Service (April report delivered in May), inventory remains well below the supply needed for…
As we mentioned in previous posts – if you set out your investment plan, find the right property to buy and work with a solid team of professionals – this is a strong market in which to be a real estate investor. Recent data from the S&P/Case-Schiller Home Price indices supports this point. The Case-Schiller index tracks changes in the value of residential real estate…
VERISTONE CAPITAL DEALSHEET LOAN AMOUNT: $129,000FINAL SALES PRICE: $217,300LOAN DATE: March 2013 to June 2013LOCATION: Auburn, King County- ResidentialLOAN TYPE: Fix & Flip Loan, 6 Month TermDETAILS: The borrower on this loan is an experienced real estate investor and real estate agent. She purchased the property in March for $126,000 and performed a $30,000 remodel on this 1500 sq foot Auburn rambler. The final product…
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…
VERISTONE DEALSHEET LOAN AMOUNT: $213,000FINAL SALES PRICE: $455,100LOAN DATE: January 2013 to June 2013LOCATION: Federal Way, Marine Hills, King County- ResidentialLOAN TYPE: Fix & Flip Loan, 6 Month Term, $25,000 Construction HoldbackDETAILS: This is an outstanding story of a 1966 property with sound views in the Redondo Highlands receiving modern updates. New interior and exterior paint, private upper level master suite, modern kitchen and baths,…
VERISTONE DEALSHEET LOAN AMOUNT: $126,000 FINAL SALES PRICE: $228,000 LOAN DATE: December 14th, 2012 to April 1st, 2013 LOCATION: Maple Valley, King County- Residential LOAN TYPE: Auction Loan, 9 Month Term DETAILS: Our Veristone Capital borrower obtained the subject property at the King County foreclosure auction in December 2012 for $144,000. The borrower is an experienced real estate investor who partnered with Skyline Properties and…
VERISTONE DEALSHEET LOAN AMOUNT: $296,000FINAL SALES PRICE: $534,000LOAN DATE: June 2012 to April 2013LOCATION: West SeattleTYPE: Fix & Flip Loan- 6 Month Term with 3 Month Extension OptionDETAILS: The subject property is a 1928 Tudor boasting 2350 square feet. This property sits on a spectacular street and went under a complete permitted remodel with aid of an architect. The borrower in an experienced real estate…
[break]The positive signs in the housing market got another boost yesterday with the release of the Federal Housing and Finance Agency’s quarterly price index. According the the report, home prices rose 1.8% compared with the first quarter of the year – the biggest quarter-over-quarter increase since 2005. The FHFA attributed the strong appreciation primarily to declining mortgage rates and tight inventory in the housing market. The…