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Snohomish County Foreclosures
The current YTD Median Home Price in Snohomish County is $243,000. And while $243,000 is more than most people can afford right now, the recent increase in distress sales and bank owned foreclosures has made home ownership affordable for many. There are currently 32 distress sales and foreclosures listed under $75,000 in Snohomish County. A mortgage on a $75,000 home could run you under $500 a month, whereas renting a similar three bedroom home would cost you $1,000 or more. Purchasing a foreclosure not only saves you tens of thousands of dollars, but it also helps stimulate the economy.
Click Here to Receive a FREE Printout of ALL New Snohomish County Foreclosure Listings That Match Your Exact Home Buying Criteria
Foreclosures offer a great opportunity for almost anybody, but First Time Buyers and Investors especially can benefit from these properties.
Foreclosures are great for first time buyers because they:
• Cost $10-20,000 less than non-foreclosure properties that are similar in every way.
• Require little to no money down and thus can be less expensive to move into than a rental property which might require first month’s rent, last month’s rent, and a security deposit.
• Can have half the monthly cost as a similar rental in the same area.
Snohomish County Foreclosures are great for Investors because:
• Not all foreclosures are turn-key ready for first time buyers, but nearly all foreclosures are sold As-Is. This means that foreclosures in need of repairs cannot always be purchased with the little or no money down programs that first time buyers depend on. Removing first time buyers from the list of potential buyers creates an incredibly narrow market, and significantly increases market times. Narrow markets and lengthy market times equal huge opportunities for Investors.
• Cash flow! If your mortgage is half what rent is you’re doing pretty good. Not only is the tenant paying off your debt, but you’re putting cash in your pocket every single month.
• Appreciation is inevitable. We’ve had more than 20 recessions in the last hundred years. We’ve recovered from every one. Unless you believe the world is going to end in 2012, you probably realize that the economy will recover, and prices will rise again.
• According to IRS.gov, “Depreciation is an income tax deduction that allows a taxpayer to recover the cost or other basis of certain property. It is an annual allowance for the wear and tear, deterioration, or obsolescence of the property.” There are plenty of new and newer foreclosures available that ensure many years of depreciation to come for the proactive investor.
Low cost of entry, low costs monthly, and historically low interest rates have created a near perfect environment for the investor or first time buyer. You throw in the traditional benefits of owning real estate such as appreciation, depreciation, and cash flow, and there really shouldn’t be anything holding you back. Personal motivations aside, buying homes is just plain good for the economy.
SnoCoForeclosures.com was created for two reasons. The first reason is that between 2007 and 2010 Unemployment nearly doubled in Snohomish County. The second reason has to do with a statistic put out by the National Association of Realtors. According to N.A.R. for every two homes sold, a job is created. A lot of these people who lost these homes in foreclosure lost them because they lost their jobs. By purchasing one of these homes you could be helping that same person get their job back.
SnoCoForeclosures.com will provide you with the most extensive and complete list of distress sales and foreclosures available, and we will do it free of charge. We strive to increase public awareness in regards to foreclosures because we hope it will help stimulate the local economy by getting these homes sold. The following foreclosure lists are available free of charge upon request:
• Distress Sales
• Bank Repos
• Fannie Mae Properties
• Freddie Mac Properties
• Government Owned Foreclosures
• New Construction Foreclosures
• Remodeled and Updated Foreclosures
• Luxury Foreclosures
• & Waterfront and Sound View Foreclosures
To get your free list simply fill out the Contact Us page, and click submit. One of our volunteers will then create a list of foreclosures custom tailored to your specific needs.