Clients often ask me about Sequim foreclosures and whether they should be looking for a good deal among the Sequim foreclosures or the Port Angeles foreclosures. I looked up all the foreclosures this calendar year (from Jan 1 to Oct 22, 2010). We’ve had a total of 404 foreclosures as evidenced by the “Notice of Trustee’s Sale” documents that have been recorded. This includes foreclosures in all of Clallam County.
Sequim Foreclosures Not So Many
The number of Sequim foreclosures is a much small number. A Notice of Trustee’s Sale must be recorded part way through the foreclosure process. The beginning of the foreclosure process is the issuance of a Notice of Default, but in Washington that document isn’t recorded, so there will be more foreclosures than represented by the number Notice of Trustee’s Sales recorded. But that is offset by the fact that some Notice of Trustee’s Sales are recorded more than once, and there are also Discontinuances (termination of the foreclosure).
Sequim Foreclosures Not for Retirees
This means that the actual number of Sequim foreclosures is a small number, perhaps 50 homes. Can retirees find great deals in this inventory of foreclosures? Not really. The many clients I have been working with over the past several years have not found a nice home in a good area at a great price among the Sequim foreclosures. Trying to find a foreclosure you would want to live in and trying to negotiate with a bank REO on the east coast is a bit like entering a Twilight Zone movie.
There are also many problems looming in buying a foreclosure because of the legal problems with the bank foreclosure process. See my earlier article at Sequim Foreclosures and Problems.
I don’t list foreclosures, but I do represent clients as a Sequim Buyer’s Agent or a Foreclosure Buyer’s Agent. If you do find a foreclosure you want to buy, why not use a retired real estate attorney who understands foreclosures intimately and who is a Sequim real estate broker? Email me or call me on my cell phone. Sequim foreclosures are not necessarily the best buy for retirees but if you find one I would love to represent you.
Last Updated on September 4, 2011 by Chuck Marunde
You shed some light on Sequim foreclosures market for me. I just assumed there were lots of foreclosures like I’ve been reading in the news, but the Sequim real estate market is obviously a lot more stable than most places these days.