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Originally published February 29, 2012 at 9:01 PM | Page modified March 1, 2012 at 7:54 AM

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Seattle offered good deals in 4Q for short sales, foreclosed properties

The Seattle area ranked as one of the best metropolitan areas to buy short sales and foreclosed properties, based on the discounts buyers are getting compared with the average sales price on non-foreclosure properties, according to RealtyTrac.

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In the fourth quarter, the Seattle area ranked as one of the best metropolitan areas to buy short sales and foreclosed properties, based on the discounts buyers are getting compared with the average sales price on non-foreclosure properties, according to RealtyTrac.

There were 2,445 sales of foreclosed properties in the Seattle-Tacoma-Bellevue area in the fourth quarter, RealtyTrac data shows, representing nearly one-fifth of all home sales. The average sales price was $193,993, a 40 percent discount compared with non-foreclosed properties, the firm said. There were also 925 short sales, for an average of $245,403, a 24 percent discount.

For all of 2011, about 20,000 Washington properties in foreclosure were sold, for an average price of $205,084, RealtyTrac reported. These sales represented nearly one-fifth of all home sales in the state, much lower than the hardest-hit state, Nevada, where foreclosure sales accounted for more than half of all home sales.

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