Foreclosure Repurcussions in Sun Valley and Beyond
January 30, 2011What’s A Cap Rate?
February 4, 2011
$75,000 for a 1.22 acre lot in Griffin Ranch. $75,000 for a 1.22 acre residential building lot in one of the nicest developments in the Bellevue Triangle. Amazing.
Where else in Sun Valley will you find a deal like this? I can’t think of one.
Griffin Ranch is a rural ranchette development just a few mintues south of Bellevue in the Bellevue Triangle. It’s still close to town and the valley to the north but it feels like it’s miles away. The existing homes have set the stage for continued high quality construction. too. As part of the devleopment, large tracts of open space have been preserved to maintain the country feel.
Yes, this deal is a short sale but this is an interesting short sale. It was initiated by the bank. In other words, the bank called ths borrower and asked him if he would be interested in a short sale on his property. The bank actually wants to pursue a short sale. This doesn’t happen..at least I have never seen it happen.
Point is, the seller is motivated to do a deal. And apparently the bank is, too. Are you?