My opinion on equity was a guess based on $439K balance being less than both $460K (starting bid) and Zillow which has the place worth well over $500K. But you point out a lot of things I didn’t consider, so I now believe you are likely correct — probably a negative equity situation.
Lot is 3600sqft, structure is 1650sqft. 3/2/1, two story SFH. Purchased in 2002 for $447K with $35K down. Unsuccessfully marketed near the peak for over $700K. Supposedly a “craftsman home,” whatever that means.
