ucodegen NAR has the black suits tailing me wherever I go…heheheh….
Seriously though… it may very well be a flop and it may not be… I am not sure.
To be honest it will be interesting to see… It could be the first time that the lender really does just let some of this inventory go with some serious discounts…
After all, they will have to do it sooner or later right?
SD Realtor
ps this is more devils advocate speak… but some day they will have to…
I swing by for a few minutes to get an idea of the turn out. It seems to be about 1/2 – 2/3 of the size compare to last auction. Also, the final price seems to be lower than last time as well. I only saw the auction of 13078 TEXANA ST., SD – Rancho Penasquitos, CA 92129. The final sold price was $520k. The starting bid was around $350k. Similar properties last time sold for high $500k, so there’s a definitely difference.
I swing by for a few minutes to get an idea of the turn out. It seems to be about 1/2 – 2/3 of the size compare to last auction. Also, the final price seems to be lower than last time as well. I only saw the auction of 13078 TEXANA ST., SD – Rancho Penasquitos, CA 92129. The final sold price was $520k. The starting bid was around $350k. Similar properties last time sold for high $500k, so there’s a definitely difference.
I swing by for a few minutes to get an idea of the turn out. It seems to be about 1/2 – 2/3 of the size compare to last auction. Also, the final price seems to be lower than last time as well. I only saw the auction of 13078 TEXANA ST., SD – Rancho Penasquitos, CA 92129. The final sold price was $520k. The starting bid was around $350k. Similar properties last time sold for high $500k, so there’s a definitely difference.
If that Texana sale price went through, then that’s a lost of almost $100k in 3 years according to zillow. I hope the home sellers around that area take note of this sale.
If that Texana sale price went through, then that’s a lost of almost $100k in 3 years according to zillow. I hope the home sellers around that area take note of this sale.
If that Texana sale price went through, then that’s a lost of almost $100k in 3 years according to zillow. I hope the home sellers around that area take note of this sale.
SDC this home was an oddity. AN is like a hawk and he is has a keen eye on both Mira Mesa and Penasquitos. A few weeks back he noticed 13078 Texana on the MLS but it was cancelled after only 3 days. It was listed at 450k!!! So yeah the fact that it went for 520k is heartening but I was hoping to see it go alot lower then that.
Also right now 12967 Texana is pending at a list price of 550k. This is an REO as well.
Finally another problem with auctions is that home sellers are generally not aware of them. When they are presented comps the comps are generally MLS resale comps. Auctions are not on the MLS as sold properties. So the agent would have to comb through tax records to find the auctioned comps. Also bonehead sellers would always find a million reasons to say why their home is the the shniznet compared to an auctioned home… they will get it someday though…
SDC this home was an oddity. AN is like a hawk and he is has a keen eye on both Mira Mesa and Penasquitos. A few weeks back he noticed 13078 Texana on the MLS but it was cancelled after only 3 days. It was listed at 450k!!! So yeah the fact that it went for 520k is heartening but I was hoping to see it go alot lower then that.
Also right now 12967 Texana is pending at a list price of 550k. This is an REO as well.
Finally another problem with auctions is that home sellers are generally not aware of them. When they are presented comps the comps are generally MLS resale comps. Auctions are not on the MLS as sold properties. So the agent would have to comb through tax records to find the auctioned comps. Also bonehead sellers would always find a million reasons to say why their home is the the shniznet compared to an auctioned home… they will get it someday though…
