Tuesday, February 06, 2007

Some Auction Results

Just got an anonymous comment pointing me at this item from CBS13 News. Here's the rundown:

- 4 of 6 sold for less than starting bid.
- $480K house went for $440K

- Interview with "investor" said a house he bought for $510K sold for $410K
- Reporters were banned from observing

Have a look at the video. The investor guy is pissed! :)

4 comments :

Dry Powder till 09 said...

Max, We can always count on you to provide the latest info. Thank you for all your work. This market is so topsy turvey right now it is unreal. I have recently seen houses in Lincoln going into foreclosure for less than the price some people are still buying homes from the builder. Wow.

I would not touch anything until this market shakes out to the bottom. People think they are getting a good deal, and in a few months, they are underwater $100,000. Not a wise choice.

patient renter said...

Thanks for reporting this. I guess it turned out about as we expected, at least for myself.

Anonymous said...

He bought for 510k, sold for 410K and was pissed ... man isn't that Pot calling kettle black ...
He drove up comps for everyone by buying for 510, and imagine someone genuinely buying to live based on that 510K and now is 100K under.
Here is one more ... 6 months from now, we see that same house go for 310 ... will he get himself un pissed.
Cool.
Cow_tipping.

Anatolia said...

do you really think we can see 310K?