60% off at temecula auction and conclusive evidence that I’m an idiot

[stansd]

This is academic, but say you show up at the auction…the bidding becomes you vs. this other guy, and the place winds up selling for $1000 above the maximum price the loser of the auction thinks it’s worth. If the other guy thinks it’s worth 290K, you get it for 291K.

Bottom line: That guy may have gotten a steal, but you wouldn’t have gotten it for the same price he did, and may not have been anywhere near.

So, academically, you should feel better: This reasoned approach has always worked well with women…LOL.

Stan

[stansd]

This is academic, but say you show up at the auction…the bidding becomes you vs. this other guy, and the place winds up selling for $1000 above the maximum price the loser of the auction thinks it’s worth. If the other guy thinks it’s worth 290K, you get it for 291K.

Bottom line: That guy may have gotten a steal, but you wouldn’t have gotten it for the same price he did, and may not have been anywhere near.

So, academically, you should feel better: This reasoned approach has always worked well with women…LOL.

Stan

[SHILOH]

If that’s the state of affairs in Temecula now, what is going to happen to prices as more inventory emerges?

will these lower interest rates make any difference –like before, or has the lending really tightened up?

Are there enough buyers to soak up the inventory?

[SHILOH]

If that’s the state of affairs in Temecula now, what is going to happen to prices as more inventory emerges?

will these lower interest rates make any difference –like before, or has the lending really tightened up?

Are there enough buyers to soak up the inventory?

[SHILOH]

If that’s the state of affairs in Temecula now, what is going to happen to prices as more inventory emerges?

will these lower interest rates make any difference –like before, or has the lending really tightened up?

Are there enough buyers to soak up the inventory?

[SHILOH]

If that’s the state of affairs in Temecula now, what is going to happen to prices as more inventory emerges?

will these lower interest rates make any difference –like before, or has the lending really tightened up?

Are there enough buyers to soak up the inventory?

[SHILOH]

If that’s the state of affairs in Temecula now, what is going to happen to prices as more inventory emerges?

will these lower interest rates make any difference –like before, or has the lending really tightened up?

Are there enough buyers to soak up the inventory?

[dgilmsandi]

When buying at Auction be sure to find out if it is an Absolute Auction or an Auction with Reserve. Also, don’t forget to add a Buyer’s Premium on top of the final selling price. The premium can run 5-10% of the selling price and you, the buyer, are responsible for paying it. Don’t even think about backing out of a deal once you’re the final bidder since most Auctions require a full 3% non-refundable deposit. Foreclosures still only represent 1% of total inventory and just because a home sells for “cheap” doesn’t always mean it’s a good deal (i.e. is it near power lines or on a busy road). I think this is a market of opportunity and have made some pretty good money from real estate in 2007; sold primary residence for record high for the plan ($1.330m, paid $925k in 2004 from bankruptcy court plus about $180k in improvements), sold a flip for $430k minus $10k for buyer credit (paid $305k five months prior as an REO, put about $55k into it, market time was only about 3 weeks and had 3 offers), bought new primary residence for $950k as an REO have about $75k in improvements and it’s worth a solid $1.2m. Oh, and this is after buying a condo for $565k in 2003 and selling it in 2004 for $835k with only about $15k in improvements… You have know when to spot a good deal and be ready to move on it!

[dgilmsandi]

When buying at Auction be sure to find out if it is an Absolute Auction or an Auction with Reserve. Also, don’t forget to add a Buyer’s Premium on top of the final selling price. The premium can run 5-10% of the selling price and you, the buyer, are responsible for paying it. Don’t even think about backing out of a deal once you’re the final bidder since most Auctions require a full 3% non-refundable deposit. Foreclosures still only represent 1% of total inventory and just because a home sells for “cheap” doesn’t always mean it’s a good deal (i.e. is it near power lines or on a busy road). I think this is a market of opportunity and have made some pretty good money from real estate in 2007; sold primary residence for record high for the plan ($1.330m, paid $925k in 2004 from bankruptcy court plus about $180k in improvements), sold a flip for $430k minus $10k for buyer credit (paid $305k five months prior as an REO, put about $55k into it, market time was only about 3 weeks and had 3 offers), bought new primary residence for $950k as an REO have about $75k in improvements and it’s worth a solid $1.2m. Oh, and this is after buying a condo for $565k in 2003 and selling it in 2004 for $835k with only about $15k in improvements… You have know when to spot a good deal and be ready to move on it!

[dgilmsandi]

When buying at Auction be sure to find out if it is an Absolute Auction or an Auction with Reserve. Also, don’t forget to add a Buyer’s Premium on top of the final selling price. The premium can run 5-10% of the selling price and you, the buyer, are responsible for paying it. Don’t even think about backing out of a deal once you’re the final bidder since most Auctions require a full 3% non-refundable deposit. Foreclosures still only represent 1% of total inventory and just because a home sells for “cheap” doesn’t always mean it’s a good deal (i.e. is it near power lines or on a busy road). I think this is a market of opportunity and have made some pretty good money from real estate in 2007; sold primary residence for record high for the plan ($1.330m, paid $925k in 2004 from bankruptcy court plus about $180k in improvements), sold a flip for $430k minus $10k for buyer credit (paid $305k five months prior as an REO, put about $55k into it, market time was only about 3 weeks and had 3 offers), bought new primary residence for $950k as an REO have about $75k in improvements and it’s worth a solid $1.2m. Oh, and this is after buying a condo for $565k in 2003 and selling it in 2004 for $835k with only about $15k in improvements… You have know when to spot a good deal and be ready to move on it!

[dgilmsandi]

When buying at Auction be sure to find out if it is an Absolute Auction or an Auction with Reserve. Also, don’t forget to add a Buyer’s Premium on top of the final selling price. The premium can run 5-10% of the selling price and you, the buyer, are responsible for paying it. Don’t even think about backing out of a deal once you’re the final bidder since most Auctions require a full 3% non-refundable deposit. Foreclosures still only represent 1% of total inventory and just because a home sells for “cheap” doesn’t always mean it’s a good deal (i.e. is it near power lines or on a busy road). I think this is a market of opportunity and have made some pretty good money from real estate in 2007; sold primary residence for record high for the plan ($1.330m, paid $925k in 2004 from bankruptcy court plus about $180k in improvements), sold a flip for $430k minus $10k for buyer credit (paid $305k five months prior as an REO, put about $55k into it, market time was only about 3 weeks and had 3 offers), bought new primary residence for $950k as an REO have about $75k in improvements and it’s worth a solid $1.2m. Oh, and this is after buying a condo for $565k in 2003 and selling it in 2004 for $835k with only about $15k in improvements… You have know when to spot a good deal and be ready to move on it!

[dgilmsandi]

When buying at Auction be sure to find out if it is an Absolute Auction or an Auction with Reserve. Also, don’t forget to add a Buyer’s Premium on top of the final selling price. The premium can run 5-10% of the selling price and you, the buyer, are responsible for paying it. Don’t even think about backing out of a deal once you’re the final bidder since most Auctions require a full 3% non-refundable deposit. Foreclosures still only represent 1% of total inventory and just because a home sells for “cheap” doesn’t always mean it’s a good deal (i.e. is it near power lines or on a busy road). I think this is a market of opportunity and have made some pretty good money from real estate in 2007; sold primary residence for record high for the plan ($1.330m, paid $925k in 2004 from bankruptcy court plus about $180k in improvements), sold a flip for $430k minus $10k for buyer credit (paid $305k five months prior as an REO, put about $55k into it, market time was only about 3 weeks and had 3 offers), bought new primary residence for $950k as an REO have about $75k in improvements and it’s worth a solid $1.2m. Oh, and this is after buying a condo for $565k in 2003 and selling it in 2004 for $835k with only about $15k in improvements… You have know when to spot a good deal and be ready to move on it!

[paramount]

“But it still is Temecula and it’s in the boon docks!”

Moron

[paramount]

“But it still is Temecula and it’s in the boon docks!”

Moron

[paramount]

“But it still is Temecula and it’s in the boon docks!”

Moron

[Author]

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