“I probably would have turned around at seeing the line up to get in. Frankly, if there are 1200 bidders there, that’s enough potential buyers to snap up half of San Diego’s monthly resale volume on a single morning. ”

I wish I’d said that. Even if only half of them are serious there’s still way too much competition for the limited number of opportunities.

It’ll be interesting to see what the turnouts are like in the months ahead. Surely some of the 1200 were just there to see what would happen. Given the resulting sale prices many of these casual observers probably won’t be back for a while. That’s not to say they won’t be replaced by an equal or possibly high noumber of other casual lookers in the future.

Considering the resulting sale prices, if the number of attendees go up that could indicate that a lot of people think the current conditions are a breather prior to the next big upswing. If the numbers go down, it would indicate that many of these people will only buy at a steep discount.