A single-family home for under $250,000?

[Hemlock140]

Originally Posted by bandersnatch

The metro is really nice to have since it's always on time no matter the weather or number of car crashes on the road.

That's not what my employees tell me when they are late for work.

Short sales are tricky, especially for someone relocating, as the bank must approve the sale and it can take months.

[Ira500]

Originally Posted by bisjoe

That's not what my employees tell me when they are late for work.

Short sales are tricky, especially for someone relocating, as the bank must approve the sale and it can take months.

Having worked for METRO for 24 years, I can attest that buses are often late, because they sit in traffic the same as cars do.
As far as short sales, not only can they take months, but more often they don't happen at all.
Yes, you can get a good deal on a short sale, but:
1. The lender doesn't tell the seller's agent( the listing agent) what amount they will approve, and some agents will price the short sale unrealistically low, knowing that the low amount will not be approved, in the hope that the low list price will generate multiple offers that go beyond the asking price. It's illegal but it happens.
2. Even if the lender approves the sale, sometimes the home has a second loan or third loan, and typically the first lender needs to offer the second lien holder an amount that they too will approve. In a foreclosure, the second lien holder will typically lose everything, so they often will accept a much smaller amount. I had a deal where the lender approved the deal, but then the second lien holder emerged, saying they wouldn't accept 4000 dollars to settle the 80,000 dollars they were owed, that they wouldn't go away unless another 7000 dollars came to them. It's a short sale, so the sellers couldn't come up with it ( they're broke, that's why it's a short sale.) The listing agent claimed that they were already doing this for " next to nothing."
That left the buyer and the buyer's agent (me) to come up with the extra 7000 if the deal were to happen. We split it, and the deal ultimately happened, seven months after the buyer and seller agreed to the deal.
I wouldn't say avoid short sales at all costs, just be aware that they have many pitfalls and are far from a sure thing.

[exit82]

Well- the good news is that there are hundreds and hundreds of houses worth 250K but the bad news is that the owners are asking 450K.

[Hemlock140]

I saw two today in Bellevue, in the area of 67th-69th just north of Northup.
Both pretty beat up little flat tops but could be fixed up. One was $238k, the other $175k.

[Hemlock140]

Originally Posted by Ira500

Having worked for METRO for 24 years, I can attest that buses are often late, because they sit in traffic the same as cars do.

The other problem in Seattle is when it's full and doesn't stop so you have to wait for the next one.

I have my Orca card and may start taking the bus soon myself, but even if late no one will know it since I start at 7am and the rest come in at 8 or 8:30. If I get on the 216 here in Sammamish it's pretty empty until it gets to Issaquah.

[west seattle gal]

Originally Posted by exit82

Well- the good news is that there are hundreds and hundreds of houses worth 250K but the bad news is that the owners are asking 450K.

Ha! So true.