Posted by: The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

6 responses to “Cheapest Homes: November 2012 Edition”

  1. ChrisM

    9211: two listing photos.Squatters, or sheer laziness?

    Interesting that the other two didn’t get picked up at auction.

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  2. softwarengineer

    RE: ChrisM @ 1

    Minimum Bid

    Most auctioned item that don’t get the minimum bid; get pulled off auctions.

    Tim’s list is a good reference history though if you bid at auctions; you as an auction buyer may not think the price is worth it….but the seller disagrees with you.

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  3. ChrisM

    RE: softwarengineer @ 2 – That’s my point. The bank is listing them for more than they went at auction.

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  4. softwarengineer

    RE: ChrisM @ 3

    LOL ChrisM

    Same thing happenned to the house next door, it started out two years ago as $99K HUD Home, no one wanted it for a year [evidently the bank wanted too much]….so the bankster remodeling crew was called in to gut the place; new oak floors, rugs, exterior panels, etc, etc….the price went up to $139K, it sold after another year of remodeling and staging.

    That was 2010-2011, now the King County assessments came in for my SE King County land/property at 38% below 2011 for 2012…..that means the place likely assesses somewhere in the mid 80s now. Who said the underwater deals were just 2007 bubble peaks…..the fun goes on and on….and yes, the banks don’t want to sell too cheap.

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  5. Jonness

    Dump #3 looks like a flip waiting to happen.

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  6. softwarengineer

    RE: Jonness @ 5

    Have You Visited It and Peered Inside?

    Albeit, I agree that even seeing an immaculant interior [or tore down dump] for inspection has no effect on its assessed value….the property assesssor performs audits from the exterior only.

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