Next San Diego REDC Auction

[SD Realtor]

Next date for San Diego is 10/27. The San Diego list is bulked up with alot of 919** homes/condos. A few other zips scattered around. Nowhere that most people here would be interested in but then again ya never know. Starting bids look good. It will be another interesting event. http://www.usahomeauctions.com

[HereWeGo]

Actually it’s http://www.ushomeauction.com. That extra “a” and “s” links to a squatter site.

The outlying areas are well-represented, to be sure.

[SD Realtor]

Thanks Herewego! Sorry about that… yeppers lots of 919ers in there…

SD Realtor

[an]

Did anyone went to this auction? I didn’t bother going since like SD R said, most of it is 919**. How was the turn out? What’s the typical sold price compare to starting bid and “Previously Valued”?

[Anonymous]

I attended the auction, it was the first one I have been to and did not know what to expect. There seemed to be a lot of people, I would guess 500. The auction started right on time 9:30 and first few properties sold anywhere between 50-66% of the previous value. Keep in mind that there was an additional 5% brockerage fee. The auction moved along, there were many homes that had to be re-auction for whatever reason, I suspect that maybe the auctioneer might have had insiders bidding and they ended up with the high bids. The following are two examples of 2 properties in Chula Vista that I feel were too expensive:

Berry Creek Rd
3800 Sq Ft
PV-919K
SB-399K
Sold for 710K plus 35.5K (5% Bkg fee) total 745.5K
This property was subject to Lenders Approval
Very nice property, but I feel too expensive for the area, plus its Taxes and Mellaroos were well over 14K per year.

Bellena St.
2900 Sq Ft
PV-669K
SB-349K
Sold for 540K plus 27k total 567K
Again nice propertu but I feel too expensive for where the market will be in a couple of years.

Overall it was fun and exhausting, I showed up with my 5K cashier check and my check book, but did not buy anything. It was hard, I wanted to participate and win something but I was patient and did not. Hopefully my patience will payoff soon.

[4plexowner]

Does anyone have insight into the previous auction and what happened to the properties afterwards?

I am curious whether the properties that ‘sold’ at the auction actually ended up in an escrow where ownership changed hands to a new homeowner.

As neto mentions, these auctions probably have shills at them and I suspect it is not uncommon for the shills to end up ‘buying’ the property.

There are also the practices of ‘rolling’ (where the auctioneer ‘rolls’ past a price-point as though he received a bid) and ‘taking a bid off the wall’ (where the auctioneer accepts a bid from a non-existent bidder). In both of these cases the auctioneer could end up with a ‘sold’ property that had to be re-auctioned because the final bid wasn’t from a real buyer.

Caveat emptor at these auctions. There are no laws against shills, rolling or taking bids off the wall. Understand that these auctions are being run by typical REIC slime who will stoop to very low levels to stick somebody with an over-priced house and earn a commission in the process.

Any insights into previous auctions? Are these properties actually coming off the market? Deeds being recorded showing new owners?

[4plexowner]

Does anyone have insight into the previous auction and what happened to the properties afterwards?

I am curious whether the properties that ‘sold’ at the auction actually ended up in an escrow where ownership changed hands to a new homeowner.

As neto mentions, these auctions probably have shills at them and I suspect it is not uncommon for the shills to end up ‘buying’ the property.

There are also the practices of ‘rolling’ (where the auctioneer ‘rolls’ past a price-point as though he received a bid) and ‘taking a bid off the wall’ (where the auctioneer accepts a bid from a non-existent bidder). In both of these cases the auctioneer could end up with a ‘sold’ property that had to be re-auctioned because the final bid wasn’t from a real buyer.

Caveat emptor at these auctions. There are no laws against shills, rolling or taking bids off the wall. Understand that these auctions are being run by typical REIC slime who will stoop to very low levels to stick somebody with an over-priced house and earn a commission in the process.

Any insights into previous auctions? Are these properties actually coming off the market? Deeds being recorded showing new owners?

[4plexowner]

Does anyone have insight into the previous auction and what happened to the properties afterwards?

I am curious whether the properties that ‘sold’ at the auction actually ended up in an escrow where ownership changed hands to a new homeowner.

As neto mentions, these auctions probably have shills at them and I suspect it is not uncommon for the shills to end up ‘buying’ the property.

There are also the practices of ‘rolling’ (where the auctioneer ‘rolls’ past a price-point as though he received a bid) and ‘taking a bid off the wall’ (where the auctioneer accepts a bid from a non-existent bidder). In both of these cases the auctioneer could end up with a ‘sold’ property that had to be re-auctioned because the final bid wasn’t from a real buyer.

Caveat emptor at these auctions. There are no laws against shills, rolling or taking bids off the wall. Understand that these auctions are being run by typical REIC slime who will stoop to very low levels to stick somebody with an over-priced house and earn a commission in the process.

Any insights into previous auctions? Are these properties actually coming off the market? Deeds being recorded showing new owners?

[bsrsharma]

neto: Thank your lucky stars! Both of them have been sold to knife catchers and will be back on auction block in a year again. It is insane for anything in Chula Vista to be valued at more than $150/Sqft.

[SD Realtor]

Darn… each time the REDC auction lists the properties I mean to download all of the advertised starting bids so we can look at them after the auction (several weeks later) to see if the properties closed and what the closing prices were actually at. I already went to the site and they have already removed the SD auction.

I agree with everything 4plex said about the auction. However I think they may actually provide bargains as long as you keep to your strategy, perform ALL of your due diligence BEFORE the auction, and stick to your price limit.

SD Realtor

[drunkle]

exposing the auctions with actual proof could have interesting effects…

[Anonymous]

The following are the addresses of the homes I saw beign auction before we bailed out:

1251 Manuel A. Ortiz
92243
1748 SF
SB: 119K
PV: 269K
Sold: 165K

6359 Avenida De Las Vistas #1
92154
1141 SF (Condo)
SB: 109K
Sold: 215K

1205 Paradise Trail Rd
91915
1856 SF
SB: 169K
PV: 515K
Sold: 410K

345 Moss St. #4
91911
1508 SF
SB: 139K
Sold: 285K

233 Regency Ct #A
91911 (Condo)
900 SF
SB: 99K
Sold: 140K

235 Naples St
91911
1143 SF
SB: 99K
PV: 483K
Sold: 255K

695 Sea Vale ST #300
91910
1508 SF
SB: 99K
Sold: 160K

1489 Berry Crk Pl
91913
3837 SF
SB: 399K
PV: 919K
Sold: 710K

1138 Bellena Ave
91913
2955 SF
SB: 349K
PV: 669.9K
Sold: 540K

5257 Reynolds ST.
92114
1020 SF
SB: 119K
Sold: 159K

530 65th St #303
92114
740 SF (Condo)
SB: 49K
Sold: 135K

254 Treewood ST.
92114
SB: 119K
Sold: 225K

343 Lausanne Dr.
92114
2633 SF
SB: 189K
PV: 393.9K
Sold: 297.5K

766 Peggy Dr.
92114
1768 SF
SB: 169K
PV: 354.9K
Sold: 225K

3815 Swift Ave
92104
700 SF (Not a Condo)
SB: 109K
PV: 360K
Sold: 195K

229th 50th
92102
792 SF (Condo)
SB: 49K
PV: 234.9K
Sold: 140K

4951 Hilltop Dr.
92102
1700 SF
SB: 179K
PV: 431.7K
Sold: 240K

425 W. Beech ST #1357
92101
822 SF (Condo)
SB: 189K
PV: 520K
Sold: 340K

8355 Station Village Ln #4108
92108
SF: Not Available
SB: 239K
PV: 673.4K
Sold: 455K

Remember to add 5% Commission to all the Sold Value, and some of the properties did not have a previous value listed.

[patientlywaiting]

SD Realtor, if you have time, it would be great if you could update us on what the auctioned houses eventually close at.

What about the previous auction? Does anyone have actual results to share?

[arenter]

Does anyone know if this property was sold? We took a look at this home and there was a lot of traffic during the open house dates. We did not make it to the auction, but I was curious as to what the outcome of this property was.

5498 ALEXANDRINE CT , OCEANSIDE , California, 92057.
SAN DIEGO County.
Square Footage: 3136 Property Type: Single Family
Starting Bid: $299,000 Previously Valued To:* $649,900
Financing: Yes

[SD Realtor]

PW and arenter –

Lets give it about 5-6 weeks and then I will look up those properties posted and see if they have a new owner recorded on the tax roll. Then we will see what the closing price was.

What is more important to me then the closing price is how far the bid was from the starting price.

If I forget please remind me around December 1 okay? We need to wait until escrow closes to see the recording take place.

SD Realtor

[patientlywaiting]

SD Realtor, thanks in advance for pulling the closing info.

That will help us determine if the auction was really a deal or a gimmick.

Until auctions result in real deals, we’re still a long way from a bottom.

[patientlywaiting]

SD Realtor, thanks in advance for pulling the closing info.

That will help us determine if the auction was really a deal or a gimmick.

Until auctions result in real deals, we’re still a long way from a bottom.

[patientlywaiting]

SD Realtor, thanks in advance for pulling the closing info.

That will help us determine if the auction was really a deal or a gimmick.

Until auctions result in real deals, we’re still a long way from a bottom.

[Anonymous]

SD-

Were you able to find the sales data?

Thanks!

[SD Realtor]

smarren –

Thanks for the reminder! Late tonite, after all is said and done and the kids are to bed I will look up the properties posted in the thread and give the sales data and if possible the downpayment.

[SD Realtor]

smarren –

Thanks for the reminder! Late tonite, after all is said and done and the kids are to bed I will look up the properties posted in the thread and give the sales data and if possible the downpayment.

[SD Realtor]

smarren –

Thanks for the reminder! Late tonite, after all is said and done and the kids are to bed I will look up the properties posted in the thread and give the sales data and if possible the downpayment.

[SD Realtor]

smarren –

Thanks for the reminder! Late tonite, after all is said and done and the kids are to bed I will look up the properties posted in the thread and give the sales data and if possible the downpayment.

[SD Realtor]

smarren –

Thanks for the reminder! Late tonite, after all is said and done and the kids are to bed I will look up the properties posted in the thread and give the sales data and if possible the downpayment.

[Anonymous]

SD-

Were you able to find the sales data?

Thanks!

[Anonymous]

SD-

Were you able to find the sales data?

Thanks!

[Anonymous]

SD-

Were you able to find the sales data?

Thanks!

[Anonymous]

SD-

Were you able to find the sales data?

Thanks!

[SD Realtor]

PW and arenter –

Lets give it about 5-6 weeks and then I will look up those properties posted and see if they have a new owner recorded on the tax roll. Then we will see what the closing price was.

What is more important to me then the closing price is how far the bid was from the starting price.

If I forget please remind me around December 1 okay? We need to wait until escrow closes to see the recording take place.

SD Realtor

[SD Realtor]

PW and arenter –

Lets give it about 5-6 weeks and then I will look up those properties posted and see if they have a new owner recorded on the tax roll. Then we will see what the closing price was.

What is more important to me then the closing price is how far the bid was from the starting price.

If I forget please remind me around December 1 okay? We need to wait until escrow closes to see the recording take place.

SD Realtor

[SD Realtor]

arenter the Alexandrine Ct went for 609k on the tax roll.

SD Realtor

[nostradamus]

Thanks SD that’s great data. Looks like some people got great-looking prices, others not so great but it’s still progress. Also nice to see there are still housing-related data being posted.

[NotCranky]

Anybody up on what is happening at the trustee’s sale with regards to outside bidders? Are the lenders still taking back most of the homes? I am not an expert at this but if the houses at the REO auctions start really going lower then maybe the trustee will be letting places go cheaper, cash. I have been to the courthouse for a few of these sales in the 90’s never bought anything.

[SD Realtor]

Rus I have no evidence of this but the trustee sales are still dominated by properties going back to the lenders.

I was going to comment on your statement about the trustee letting places go cheaper but I am not an expert on the process.

SD Realtor

[NotCranky]

That question was in part motivated by this topic of Phantom inventory that comes up from time to time here. They are not being sold to private parties by the trustees.Even if the phantom inventory was being bought up by “bulk” buyers as REO’s we would see those properties coming from the bulk buyers to the MLS and I don’t see it. We also don’t see anecdotal evidence of bulk buyers putting their would be REO purchases back on the market as rentals.Maybe I am wrong about this? This seems to verify the opinion spoken by a few, that the lenders are holding them much longer than they have to.

As far as cash buying of trustee sale properties goes, I would think bargains are found by that method after all other options are netting the mortgage holder(s)less than some low cash offers would. That will probably be quite some time out. It would be interesting to study how to time it. Doesen’t seem like rocket science.

[SD Realtor]

Understood…

I used to be a big believer in the covert inventory of billions of dollars worth of homes being held back by lenders. The more I work on these sorts of transactions the less I believe it.

Once someone shows me some hard proof then I will be more convinced. It will take more then posts on a blog though. I am not saying it is not true, I just want to see more concrete evidence.

Agreed with your points on the cash purchases at the trustee sale. I can see it happening but not for awhile.

SD Realtor

[sdrealtor]

I get a print out from my title company rep every week with the new NOD’s, NOT’s and REO’s. There is still very very little activity in the more desireable areas while the less desireable areas have very consistent activity but surely they havent gone through the roof. The idea of huge amounts of phantom inventory being witheld by the banks is a bunch of mullarky IMNSHO.

[sdrealtor]

I get a print out from my title company rep every week with the new NOD’s, NOT’s and REO’s. There is still very very little activity in the more desireable areas while the less desireable areas have very consistent activity but surely they havent gone through the roof. The idea of huge amounts of phantom inventory being witheld by the banks is a bunch of mullarky IMNSHO.

[sdrealtor]

I get a print out from my title company rep every week with the new NOD’s, NOT’s and REO’s. There is still very very little activity in the more desireable areas while the less desireable areas have very consistent activity but surely they havent gone through the roof. The idea of huge amounts of phantom inventory being witheld by the banks is a bunch of mullarky IMNSHO.

[sdrealtor]

I get a print out from my title company rep every week with the new NOD’s, NOT’s and REO’s. There is still very very little activity in the more desireable areas while the less desireable areas have very consistent activity but surely they havent gone through the roof. The idea of huge amounts of phantom inventory being witheld by the banks is a bunch of mullarky IMNSHO.

[sdrealtor]

I get a print out from my title company rep every week with the new NOD’s, NOT’s and REO’s. There is still very very little activity in the more desireable areas while the less desireable areas have very consistent activity but surely they havent gone through the roof. The idea of huge amounts of phantom inventory being witheld by the banks is a bunch of mullarky IMNSHO.

[SD Realtor]

Understood…

I used to be a big believer in the covert inventory of billions of dollars worth of homes being held back by lenders. The more I work on these sorts of transactions the less I believe it.

Once someone shows me some hard proof then I will be more convinced. It will take more then posts on a blog though. I am not saying it is not true, I just want to see more concrete evidence.

Agreed with your points on the cash purchases at the trustee sale. I can see it happening but not for awhile.

SD Realtor

[SD Realtor]

Understood…

I used to be a big believer in the covert inventory of billions of dollars worth of homes being held back by lenders. The more I work on these sorts of transactions the less I believe it.

Once someone shows me some hard proof then I will be more convinced. It will take more then posts on a blog though. I am not saying it is not true, I just want to see more concrete evidence.

Agreed with your points on the cash purchases at the trustee sale. I can see it happening but not for awhile.

SD Realtor

[SD Realtor]

Understood…

I used to be a big believer in the covert inventory of billions of dollars worth of homes being held back by lenders. The more I work on these sorts of transactions the less I believe it.

Once someone shows me some hard proof then I will be more convinced. It will take more then posts on a blog though. I am not saying it is not true, I just want to see more concrete evidence.

Agreed with your points on the cash purchases at the trustee sale. I can see it happening but not for awhile.

SD Realtor

[SD Realtor]

Understood…

I used to be a big believer in the covert inventory of billions of dollars worth of homes being held back by lenders. The more I work on these sorts of transactions the less I believe it.

Once someone shows me some hard proof then I will be more convinced. It will take more then posts on a blog though. I am not saying it is not true, I just want to see more concrete evidence.

Agreed with your points on the cash purchases at the trustee sale. I can see it happening but not for awhile.

SD Realtor

[NotCranky]

That question was in part motivated by this topic of Phantom inventory that comes up from time to time here. They are not being sold to private parties by the trustees.Even if the phantom inventory was being bought up by “bulk” buyers as REO’s we would see those properties coming from the bulk buyers to the MLS and I don’t see it. We also don’t see anecdotal evidence of bulk buyers putting their would be REO purchases back on the market as rentals.Maybe I am wrong about this? This seems to verify the opinion spoken by a few, that the lenders are holding them much longer than they have to.

As far as cash buying of trustee sale properties goes, I would think bargains are found by that method after all other options are netting the mortgage holder(s)less than some low cash offers would. That will probably be quite some time out. It would be interesting to study how to time it. Doesen’t seem like rocket science.

[NotCranky]

That question was in part motivated by this topic of Phantom inventory that comes up from time to time here. They are not being sold to private parties by the trustees.Even if the phantom inventory was being bought up by “bulk” buyers as REO’s we would see those properties coming from the bulk buyers to the MLS and I don’t see it. We also don’t see anecdotal evidence of bulk buyers putting their would be REO purchases back on the market as rentals.Maybe I am wrong about this? This seems to verify the opinion spoken by a few, that the lenders are holding them much longer than they have to.

As far as cash buying of trustee sale properties goes, I would think bargains are found by that method after all other options are netting the mortgage holder(s)less than some low cash offers would. That will probably be quite some time out. It would be interesting to study how to time it. Doesen’t seem like rocket science.

[NotCranky]

That question was in part motivated by this topic of Phantom inventory that comes up from time to time here. They are not being sold to private parties by the trustees.Even if the phantom inventory was being bought up by “bulk” buyers as REO’s we would see those properties coming from the bulk buyers to the MLS and I don’t see it. We also don’t see anecdotal evidence of bulk buyers putting their would be REO purchases back on the market as rentals.Maybe I am wrong about this? This seems to verify the opinion spoken by a few, that the lenders are holding them much longer than they have to.

As far as cash buying of trustee sale properties goes, I would think bargains are found by that method after all other options are netting the mortgage holder(s)less than some low cash offers would. That will probably be quite some time out. It would be interesting to study how to time it. Doesen’t seem like rocket science.

[NotCranky]

That question was in part motivated by this topic of Phantom inventory that comes up from time to time here. They are not being sold to private parties by the trustees.Even if the phantom inventory was being bought up by “bulk” buyers as REO’s we would see those properties coming from the bulk buyers to the MLS and I don’t see it. We also don’t see anecdotal evidence of bulk buyers putting their would be REO purchases back on the market as rentals.Maybe I am wrong about this? This seems to verify the opinion spoken by a few, that the lenders are holding them much longer than they have to.

As far as cash buying of trustee sale properties goes, I would think bargains are found by that method after all other options are netting the mortgage holder(s)less than some low cash offers would. That will probably be quite some time out. It would be interesting to study how to time it. Doesen’t seem like rocket science.

[SD Realtor]

Rus I have no evidence of this but the trustee sales are still dominated by properties going back to the lenders.

I was going to comment on your statement about the trustee letting places go cheaper but I am not an expert on the process.

SD Realtor

[SD Realtor]

Rus I have no evidence of this but the trustee sales are still dominated by properties going back to the lenders.

I was going to comment on your statement about the trustee letting places go cheaper but I am not an expert on the process.

SD Realtor

[SD Realtor]

Rus I have no evidence of this but the trustee sales are still dominated by properties going back to the lenders.

I was going to comment on your statement about the trustee letting places go cheaper but I am not an expert on the process.

SD Realtor

[SD Realtor]

Rus I have no evidence of this but the trustee sales are still dominated by properties going back to the lenders.

I was going to comment on your statement about the trustee letting places go cheaper but I am not an expert on the process.

SD Realtor

[NotCranky]

Anybody up on what is happening at the trustee’s sale with regards to outside bidders? Are the lenders still taking back most of the homes? I am not an expert at this but if the houses at the REO auctions start really going lower then maybe the trustee will be letting places go cheaper, cash. I have been to the courthouse for a few of these sales in the 90’s never bought anything.

[NotCranky]

Anybody up on what is happening at the trustee’s sale with regards to outside bidders? Are the lenders still taking back most of the homes? I am not an expert at this but if the houses at the REO auctions start really going lower then maybe the trustee will be letting places go cheaper, cash. I have been to the courthouse for a few of these sales in the 90’s never bought anything.

[NotCranky]

Anybody up on what is happening at the trustee’s sale with regards to outside bidders? Are the lenders still taking back most of the homes? I am not an expert at this but if the houses at the REO auctions start really going lower then maybe the trustee will be letting places go cheaper, cash. I have been to the courthouse for a few of these sales in the 90’s never bought anything.

[NotCranky]

Anybody up on what is happening at the trustee’s sale with regards to outside bidders? Are the lenders still taking back most of the homes? I am not an expert at this but if the houses at the REO auctions start really going lower then maybe the trustee will be letting places go cheaper, cash. I have been to the courthouse for a few of these sales in the 90’s never bought anything.

[nostradamus]

Thanks SD that’s great data. Looks like some people got great-looking prices, others not so great but it’s still progress. Also nice to see there are still housing-related data being posted.

[nostradamus]

Thanks SD that’s great data. Looks like some people got great-looking prices, others not so great but it’s still progress. Also nice to see there are still housing-related data being posted.

[nostradamus]

Thanks SD that’s great data. Looks like some people got great-looking prices, others not so great but it’s still progress. Also nice to see there are still housing-related data being posted.

[nostradamus]

Thanks SD that’s great data. Looks like some people got great-looking prices, others not so great but it’s still progress. Also nice to see there are still housing-related data being posted.

[SD Realtor]

arenter the Alexandrine Ct went for 609k on the tax roll.

SD Realtor

[SD Realtor]

arenter the Alexandrine Ct went for 609k on the tax roll.

SD Realtor

[SD Realtor]

arenter the Alexandrine Ct went for 609k on the tax roll.

SD Realtor

[SD Realtor]

arenter the Alexandrine Ct went for 609k on the tax roll.

SD Realtor

[arenter]

Does anyone know if this property was sold? We took a look at this home and there was a lot of traffic during the open house dates. We did not make it to the auction, but I was curious as to what the outcome of this property was.

5498 ALEXANDRINE CT , OCEANSIDE , California, 92057.
SAN DIEGO County.
Square Footage: 3136 Property Type: Single Family
Starting Bid: $299,000 Previously Valued To:* $649,900
Financing: Yes

[arenter]

Does anyone know if this property was sold? We took a look at this home and there was a lot of traffic during the open house dates. We did not make it to the auction, but I was curious as to what the outcome of this property was.

5498 ALEXANDRINE CT , OCEANSIDE , California, 92057.
SAN DIEGO County.
Square Footage: 3136 Property Type: Single Family
Starting Bid: $299,000 Previously Valued To:* $649,900
Financing: Yes

[patientlywaiting]

SD Realtor, if you have time, it would be great if you could update us on what the auctioned houses eventually close at.

What about the previous auction? Does anyone have actual results to share?

[patientlywaiting]

SD Realtor, if you have time, it would be great if you could update us on what the auctioned houses eventually close at.

What about the previous auction? Does anyone have actual results to share?

[SD Realtor]

Here are the results for a quick look at the tax roll from the MLS for the listings that neto posted. Most of them did not have a change of status on the tax roll meaing either the property fell out of escrow or it is still in escrow.

Also the sales price I put in was what was recorded on the tax roll and as you can see the 5% was built into the price. (Neto thanks for posting all of these)

I think the amount of closed escrows actually surprises me.

1251 Manuel A. Ortiz
92243
1748 SF
SB: 119K
PV: 269K
Sold: 165K

** Could not find this address on the tax roll.

6359 Avenida De Las Vistas #1
92154
1141 SF (Condo)
SB: 109K
Sold: 215K

** Sold for 226k on the tax roll.

1205 Paradise Trail Rd
91915
1856 SF
SB: 169K
PV: 515K
Sold: 410K

** No new recording yet.

345 Moss St. #4
91911
1508 SF
SB: 139K
Sold: 285K

** Sold for 310k on the tax roll (Purchase by the next door neighbor!)

233 Regency Ct #A
91911 (Condo)
900 SF
SB: 99K
Sold: 140K

** No new recording yet.

235 Naples St
91911
1143 SF
SB: 99K
PV: 483K
Sold: 255K

** No new recording yet.

695 Sea Vale ST #300
91910
1508 SF
SB: 99K
Sold: 160K

** No new recording yet.

1489 Berry Crk Pl
91913
3837 SF
SB: 399K
PV: 919K
Sold: 710K

**Sold for 745.5k on the tax roll.

1138 Bellena Ave
91913
2955 SF
SB: 349K
PV: 669.9K
Sold: 540K

**Sold for 567k on the tax roll.

5257 Reynolds ST.
92114
1020 SF
SB: 119K
Sold: 159K

**No sale recorded on the tax roll yet.

530 65th St #303
92114
740 SF (Condo)
SB: 49K
Sold: 135K

**No sale recorded on the tax roll yet.

254 Treewood ST.
92114
SB: 119K
Sold: 225K

**Sold for 236.5k on the tax roll.

343 Lausanne Dr.
92114
2633 SF
SB: 189K
PV: 393.9K
Sold: 297.5K

**No sale recorded on the tax roll.

766 Peggy Dr.
92114
1768 SF
SB: 169K
PV: 354.9K
Sold: 225K

** No sale recorded on the tax roll.

3815 Swift Ave
92104
700 SF (Not a Condo)
SB: 109K
PV: 360K
Sold: 195K

** No sale recorded on the tax roll.

229th 50th
92102
792 SF (Condo)
SB: 49K
PV: 234.9K
Sold: 140K

** Assuming this is unit 1 no sale recorded on the tax roll

4951 Hilltop Dr.
92102
1700 SF
SB: 179K
PV: 431.7K
Sold: 240K

** No sale recorded on the tax roll.

425 W. Beech ST #1357
92101
822 SF (Condo)
SB: 189K
PV: 520K
Sold: 340K

** Sold for 357k on the tax roll

8355 Station Village Ln #4108
92108
SF: Not Available
SB: 239K
PV: 673.4K
Sold: 455K

** Sold for 478k on the tax roll.

SD Realtor

[SD Realtor]

Here are the results for a quick look at the tax roll from the MLS for the listings that neto posted. Most of them did not have a change of status on the tax roll meaing either the property fell out of escrow or it is still in escrow.

Also the sales price I put in was what was recorded on the tax roll and as you can see the 5% was built into the price. (Neto thanks for posting all of these)

I think the amount of closed escrows actually surprises me.

1251 Manuel A. Ortiz
92243
1748 SF
SB: 119K
PV: 269K
Sold: 165K

** Could not find this address on the tax roll.

6359 Avenida De Las Vistas #1
92154
1141 SF (Condo)
SB: 109K
Sold: 215K

** Sold for 226k on the tax roll.

1205 Paradise Trail Rd
91915
1856 SF
SB: 169K
PV: 515K
Sold: 410K

** No new recording yet.

345 Moss St. #4
91911
1508 SF
SB: 139K
Sold: 285K

** Sold for 310k on the tax roll (Purchase by the next door neighbor!)

233 Regency Ct #A
91911 (Condo)
900 SF
SB: 99K
Sold: 140K

** No new recording yet.

235 Naples St
91911
1143 SF
SB: 99K
PV: 483K
Sold: 255K

** No new recording yet.

695 Sea Vale ST #300
91910
1508 SF
SB: 99K
Sold: 160K

** No new recording yet.

1489 Berry Crk Pl
91913
3837 SF
SB: 399K
PV: 919K
Sold: 710K

**Sold for 745.5k on the tax roll.

1138 Bellena Ave
91913
2955 SF
SB: 349K
PV: 669.9K
Sold: 540K

**Sold for 567k on the tax roll.

5257 Reynolds ST.
92114
1020 SF
SB: 119K
Sold: 159K

**No sale recorded on the tax roll yet.

530 65th St #303
92114
740 SF (Condo)
SB: 49K
Sold: 135K

**No sale recorded on the tax roll yet.

254 Treewood ST.
92114
SB: 119K
Sold: 225K

**Sold for 236.5k on the tax roll.

343 Lausanne Dr.
92114
2633 SF
SB: 189K
PV: 393.9K
Sold: 297.5K

**No sale recorded on the tax roll.

766 Peggy Dr.
92114
1768 SF
SB: 169K
PV: 354.9K
Sold: 225K

** No sale recorded on the tax roll.

3815 Swift Ave
92104
700 SF (Not a Condo)
SB: 109K
PV: 360K
Sold: 195K

** No sale recorded on the tax roll.

229th 50th
92102
792 SF (Condo)
SB: 49K
PV: 234.9K
Sold: 140K

** Assuming this is unit 1 no sale recorded on the tax roll

4951 Hilltop Dr.
92102
1700 SF
SB: 179K
PV: 431.7K
Sold: 240K

** No sale recorded on the tax roll.

425 W. Beech ST #1357
92101
822 SF (Condo)
SB: 189K
PV: 520K
Sold: 340K

** Sold for 357k on the tax roll

8355 Station Village Ln #4108
92108
SF: Not Available
SB: 239K
PV: 673.4K
Sold: 455K

** Sold for 478k on the tax roll.

SD Realtor

[SD Realtor]

Here are the results for a quick look at the tax roll from the MLS for the listings that neto posted. Most of them did not have a change of status on the tax roll meaing either the property fell out of escrow or it is still in escrow.

Also the sales price I put in was what was recorded on the tax roll and as you can see the 5% was built into the price. (Neto thanks for posting all of these)

I think the amount of closed escrows actually surprises me.

1251 Manuel A. Ortiz
92243
1748 SF
SB: 119K
PV: 269K
Sold: 165K

** Could not find this address on the tax roll.

6359 Avenida De Las Vistas #1
92154
1141 SF (Condo)
SB: 109K
Sold: 215K

** Sold for 226k on the tax roll.

1205 Paradise Trail Rd
91915
1856 SF
SB: 169K
PV: 515K
Sold: 410K

** No new recording yet.

345 Moss St. #4
91911
1508 SF
SB: 139K
Sold: 285K

** Sold for 310k on the tax roll (Purchase by the next door neighbor!)

233 Regency Ct #A
91911 (Condo)
900 SF
SB: 99K
Sold: 140K

** No new recording yet.

235 Naples St
91911
1143 SF
SB: 99K
PV: 483K
Sold: 255K

** No new recording yet.

695 Sea Vale ST #300
91910
1508 SF
SB: 99K
Sold: 160K

** No new recording yet.

1489 Berry Crk Pl
91913
3837 SF
SB: 399K
PV: 919K
Sold: 710K

**Sold for 745.5k on the tax roll.

1138 Bellena Ave
91913
2955 SF
SB: 349K
PV: 669.9K
Sold: 540K

**Sold for 567k on the tax roll.

5257 Reynolds ST.
92114
1020 SF
SB: 119K
Sold: 159K

**No sale recorded on the tax roll yet.

530 65th St #303
92114
740 SF (Condo)
SB: 49K
Sold: 135K

**No sale recorded on the tax roll yet.

254 Treewood ST.
92114
SB: 119K
Sold: 225K

**Sold for 236.5k on the tax roll.

343 Lausanne Dr.
92114
2633 SF
SB: 189K
PV: 393.9K
Sold: 297.5K

**No sale recorded on the tax roll.

766 Peggy Dr.
92114
1768 SF
SB: 169K
PV: 354.9K
Sold: 225K

** No sale recorded on the tax roll.

3815 Swift Ave
92104
700 SF (Not a Condo)
SB: 109K
PV: 360K
Sold: 195K

** No sale recorded on the tax roll.

229th 50th
92102
792 SF (Condo)
SB: 49K
PV: 234.9K
Sold: 140K

** Assuming this is unit 1 no sale recorded on the tax roll

4951 Hilltop Dr.
92102
1700 SF
SB: 179K
PV: 431.7K
Sold: 240K

** No sale recorded on the tax roll.

425 W. Beech ST #1357
92101
822 SF (Condo)
SB: 189K
PV: 520K
Sold: 340K

** Sold for 357k on the tax roll

8355 Station Village Ln #4108
92108
SF: Not Available
SB: 239K
PV: 673.4K
Sold: 455K

** Sold for 478k on the tax roll.

SD Realtor

[SD Realtor]

Here are the results for a quick look at the tax roll from the MLS for the listings that neto posted. Most of them did not have a change of status on the tax roll meaing either the property fell out of escrow or it is still in escrow.

Also the sales price I put in was what was recorded on the tax roll and as you can see the 5% was built into the price. (Neto thanks for posting all of these)

I think the amount of closed escrows actually surprises me.

1251 Manuel A. Ortiz
92243
1748 SF
SB: 119K
PV: 269K
Sold: 165K

** Could not find this address on the tax roll.

6359 Avenida De Las Vistas #1
92154
1141 SF (Condo)
SB: 109K
Sold: 215K

** Sold for 226k on the tax roll.

1205 Paradise Trail Rd
91915
1856 SF
SB: 169K
PV: 515K
Sold: 410K

** No new recording yet.

345 Moss St. #4
91911
1508 SF
SB: 139K
Sold: 285K

** Sold for 310k on the tax roll (Purchase by the next door neighbor!)

233 Regency Ct #A
91911 (Condo)
900 SF
SB: 99K
Sold: 140K

** No new recording yet.

235 Naples St
91911
1143 SF
SB: 99K
PV: 483K
Sold: 255K

** No new recording yet.

695 Sea Vale ST #300
91910
1508 SF
SB: 99K
Sold: 160K

** No new recording yet.

1489 Berry Crk Pl
91913
3837 SF
SB: 399K
PV: 919K
Sold: 710K

**Sold for 745.5k on the tax roll.

1138 Bellena Ave
91913
2955 SF
SB: 349K
PV: 669.9K
Sold: 540K

**Sold for 567k on the tax roll.

5257 Reynolds ST.
92114
1020 SF
SB: 119K
Sold: 159K

**No sale recorded on the tax roll yet.

530 65th St #303
92114
740 SF (Condo)
SB: 49K
Sold: 135K

**No sale recorded on the tax roll yet.

254 Treewood ST.
92114
SB: 119K
Sold: 225K

**Sold for 236.5k on the tax roll.

343 Lausanne Dr.
92114
2633 SF
SB: 189K
PV: 393.9K
Sold: 297.5K

**No sale recorded on the tax roll.

766 Peggy Dr.
92114
1768 SF
SB: 169K
PV: 354.9K
Sold: 225K

** No sale recorded on the tax roll.

3815 Swift Ave
92104
700 SF (Not a Condo)
SB: 109K
PV: 360K
Sold: 195K

** No sale recorded on the tax roll.

229th 50th
92102
792 SF (Condo)
SB: 49K
PV: 234.9K
Sold: 140K

** Assuming this is unit 1 no sale recorded on the tax roll

4951 Hilltop Dr.
92102
1700 SF
SB: 179K
PV: 431.7K
Sold: 240K

** No sale recorded on the tax roll.

425 W. Beech ST #1357
92101
822 SF (Condo)
SB: 189K
PV: 520K
Sold: 340K

** Sold for 357k on the tax roll

8355 Station Village Ln #4108
92108
SF: Not Available
SB: 239K
PV: 673.4K
Sold: 455K

** Sold for 478k on the tax roll.

SD Realtor

[SD Realtor]

Here are the results for a quick look at the tax roll from the MLS for the listings that neto posted. Most of them did not have a change of status on the tax roll meaing either the property fell out of escrow or it is still in escrow.

Also the sales price I put in was what was recorded on the tax roll and as you can see the 5% was built into the price. (Neto thanks for posting all of these)

I think the amount of closed escrows actually surprises me.

1251 Manuel A. Ortiz
92243
1748 SF
SB: 119K
PV: 269K
Sold: 165K

** Could not find this address on the tax roll.

6359 Avenida De Las Vistas #1
92154
1141 SF (Condo)
SB: 109K
Sold: 215K

** Sold for 226k on the tax roll.

1205 Paradise Trail Rd
91915
1856 SF
SB: 169K
PV: 515K
Sold: 410K

** No new recording yet.

345 Moss St. #4
91911
1508 SF
SB: 139K
Sold: 285K

** Sold for 310k on the tax roll (Purchase by the next door neighbor!)

233 Regency Ct #A
91911 (Condo)
900 SF
SB: 99K
Sold: 140K

** No new recording yet.

235 Naples St
91911
1143 SF
SB: 99K
PV: 483K
Sold: 255K

** No new recording yet.

695 Sea Vale ST #300
91910
1508 SF
SB: 99K
Sold: 160K

** No new recording yet.

1489 Berry Crk Pl
91913
3837 SF
SB: 399K
PV: 919K
Sold: 710K

**Sold for 745.5k on the tax roll.

1138 Bellena Ave
91913
2955 SF
SB: 349K
PV: 669.9K
Sold: 540K

**Sold for 567k on the tax roll.

5257 Reynolds ST.
92114
1020 SF
SB: 119K
Sold: 159K

**No sale recorded on the tax roll yet.

530 65th St #303
92114
740 SF (Condo)
SB: 49K
Sold: 135K

**No sale recorded on the tax roll yet.

254 Treewood ST.
92114
SB: 119K
Sold: 225K

**Sold for 236.5k on the tax roll.

343 Lausanne Dr.
92114
2633 SF
SB: 189K
PV: 393.9K
Sold: 297.5K

**No sale recorded on the tax roll.

766 Peggy Dr.
92114
1768 SF
SB: 169K
PV: 354.9K
Sold: 225K

** No sale recorded on the tax roll.

3815 Swift Ave
92104
700 SF (Not a Condo)
SB: 109K
PV: 360K
Sold: 195K

** No sale recorded on the tax roll.

229th 50th
92102
792 SF (Condo)
SB: 49K
PV: 234.9K
Sold: 140K

** Assuming this is unit 1 no sale recorded on the tax roll

4951 Hilltop Dr.
92102
1700 SF
SB: 179K
PV: 431.7K
Sold: 240K

** No sale recorded on the tax roll.

425 W. Beech ST #1357
92101
822 SF (Condo)
SB: 189K
PV: 520K
Sold: 340K

** Sold for 357k on the tax roll

8355 Station Village Ln #4108
92108
SF: Not Available
SB: 239K
PV: 673.4K
Sold: 455K

** Sold for 478k on the tax roll.

SD Realtor

[Anonymous]

The following are the addresses of the homes I saw beign auction before we bailed out:

1251 Manuel A. Ortiz
92243
1748 SF
SB: 119K
PV: 269K
Sold: 165K

6359 Avenida De Las Vistas #1
92154
1141 SF (Condo)
SB: 109K
Sold: 215K

1205 Paradise Trail Rd
91915
1856 SF
SB: 169K
PV: 515K
Sold: 410K

345 Moss St. #4
91911
1508 SF
SB: 139K
Sold: 285K

233 Regency Ct #A
91911 (Condo)
900 SF
SB: 99K
Sold: 140K

235 Naples St
91911
1143 SF
SB: 99K
PV: 483K
Sold: 255K

695 Sea Vale ST #300
91910
1508 SF
SB: 99K
Sold: 160K

1489 Berry Crk Pl
91913
3837 SF
SB: 399K
PV: 919K
Sold: 710K

1138 Bellena Ave
91913
2955 SF
SB: 349K
PV: 669.9K
Sold: 540K

5257 Reynolds ST.
92114
1020 SF
SB: 119K
Sold: 159K

530 65th St #303
92114
740 SF (Condo)
SB: 49K
Sold: 135K

254 Treewood ST.
92114
SB: 119K
Sold: 225K

343 Lausanne Dr.
92114
2633 SF
SB: 189K
PV: 393.9K
Sold: 297.5K

766 Peggy Dr.
92114
1768 SF
SB: 169K
PV: 354.9K
Sold: 225K

3815 Swift Ave
92104
700 SF (Not a Condo)
SB: 109K
PV: 360K
Sold: 195K

229th 50th
92102
792 SF (Condo)
SB: 49K
PV: 234.9K
Sold: 140K

4951 Hilltop Dr.
92102
1700 SF
SB: 179K
PV: 431.7K
Sold: 240K

425 W. Beech ST #1357
92101
822 SF (Condo)
SB: 189K
PV: 520K
Sold: 340K

8355 Station Village Ln #4108
92108
SF: Not Available
SB: 239K
PV: 673.4K
Sold: 455K

Remember to add 5% Commission to all the Sold Value, and some of the properties did not have a previous value listed.

[Anonymous]

The following are the addresses of the homes I saw beign auction before we bailed out:

1251 Manuel A. Ortiz
92243
1748 SF
SB: 119K
PV: 269K
Sold: 165K

6359 Avenida De Las Vistas #1
92154
1141 SF (Condo)
SB: 109K
Sold: 215K

1205 Paradise Trail Rd
91915
1856 SF
SB: 169K
PV: 515K
Sold: 410K

345 Moss St. #4
91911
1508 SF
SB: 139K
Sold: 285K

233 Regency Ct #A
91911 (Condo)
900 SF
SB: 99K
Sold: 140K

235 Naples St
91911
1143 SF
SB: 99K
PV: 483K
Sold: 255K

695 Sea Vale ST #300
91910
1508 SF
SB: 99K
Sold: 160K

1489 Berry Crk Pl
91913
3837 SF
SB: 399K
PV: 919K
Sold: 710K

1138 Bellena Ave
91913
2955 SF
SB: 349K
PV: 669.9K
Sold: 540K

5257 Reynolds ST.
92114
1020 SF
SB: 119K
Sold: 159K

530 65th St #303
92114
740 SF (Condo)
SB: 49K
Sold: 135K

254 Treewood ST.
92114
SB: 119K
Sold: 225K

343 Lausanne Dr.
92114
2633 SF
SB: 189K
PV: 393.9K
Sold: 297.5K

766 Peggy Dr.
92114
1768 SF
SB: 169K
PV: 354.9K
Sold: 225K

3815 Swift Ave
92104
700 SF (Not a Condo)
SB: 109K
PV: 360K
Sold: 195K

229th 50th
92102
792 SF (Condo)
SB: 49K
PV: 234.9K
Sold: 140K

4951 Hilltop Dr.
92102
1700 SF
SB: 179K
PV: 431.7K
Sold: 240K

425 W. Beech ST #1357
92101
822 SF (Condo)
SB: 189K
PV: 520K
Sold: 340K

8355 Station Village Ln #4108
92108
SF: Not Available
SB: 239K
PV: 673.4K
Sold: 455K

Remember to add 5% Commission to all the Sold Value, and some of the properties did not have a previous value listed.

[drunkle]

exposing the auctions with actual proof could have interesting effects…

[drunkle]

exposing the auctions with actual proof could have interesting effects…

[SD Realtor]

Darn… each time the REDC auction lists the properties I mean to download all of the advertised starting bids so we can look at them after the auction (several weeks later) to see if the properties closed and what the closing prices were actually at. I already went to the site and they have already removed the SD auction.

I agree with everything 4plex said about the auction. However I think they may actually provide bargains as long as you keep to your strategy, perform ALL of your due diligence BEFORE the auction, and stick to your price limit.

SD Realtor

[SD Realtor]

Darn… each time the REDC auction lists the properties I mean to download all of the advertised starting bids so we can look at them after the auction (several weeks later) to see if the properties closed and what the closing prices were actually at. I already went to the site and they have already removed the SD auction.

I agree with everything 4plex said about the auction. However I think they may actually provide bargains as long as you keep to your strategy, perform ALL of your due diligence BEFORE the auction, and stick to your price limit.

SD Realtor

[bsrsharma]

neto: Thank your lucky stars! Both of them have been sold to knife catchers and will be back on auction block in a year again. It is insane for anything in Chula Vista to be valued at more than $150/Sqft.

[bsrsharma]

neto: Thank your lucky stars! Both of them have been sold to knife catchers and will be back on auction block in a year again. It is insane for anything in Chula Vista to be valued at more than $150/Sqft.

[Anonymous]

I attended the auction, it was the first one I have been to and did not know what to expect. There seemed to be a lot of people, I would guess 500. The auction started right on time 9:30 and first few properties sold anywhere between 50-66% of the previous value. Keep in mind that there was an additional 5% brockerage fee. The auction moved along, there were many homes that had to be re-auction for whatever reason, I suspect that maybe the auctioneer might have had insiders bidding and they ended up with the high bids. The following are two examples of 2 properties in Chula Vista that I feel were too expensive:

Berry Creek Rd
3800 Sq Ft
PV-919K
SB-399K
Sold for 710K plus 35.5K (5% Bkg fee) total 745.5K
This property was subject to Lenders Approval
Very nice property, but I feel too expensive for the area, plus its Taxes and Mellaroos were well over 14K per year.

Bellena St.
2900 Sq Ft
PV-669K
SB-349K
Sold for 540K plus 27k total 567K
Again nice propertu but I feel too expensive for where the market will be in a couple of years.

Overall it was fun and exhausting, I showed up with my 5K cashier check and my check book, but did not buy anything. It was hard, I wanted to participate and win something but I was patient and did not. Hopefully my patience will payoff soon.

[Anonymous]

I attended the auction, it was the first one I have been to and did not know what to expect. There seemed to be a lot of people, I would guess 500. The auction started right on time 9:30 and first few properties sold anywhere between 50-66% of the previous value. Keep in mind that there was an additional 5% brockerage fee. The auction moved along, there were many homes that had to be re-auction for whatever reason, I suspect that maybe the auctioneer might have had insiders bidding and they ended up with the high bids. The following are two examples of 2 properties in Chula Vista that I feel were too expensive:

Berry Creek Rd
3800 Sq Ft
PV-919K
SB-399K
Sold for 710K plus 35.5K (5% Bkg fee) total 745.5K
This property was subject to Lenders Approval
Very nice property, but I feel too expensive for the area, plus its Taxes and Mellaroos were well over 14K per year.

Bellena St.
2900 Sq Ft
PV-669K
SB-349K
Sold for 540K plus 27k total 567K
Again nice propertu but I feel too expensive for where the market will be in a couple of years.

Overall it was fun and exhausting, I showed up with my 5K cashier check and my check book, but did not buy anything. It was hard, I wanted to participate and win something but I was patient and did not. Hopefully my patience will payoff soon.

[an]

Did anyone went to this auction? I didn’t bother going since like SD R said, most of it is 919**. How was the turn out? What’s the typical sold price compare to starting bid and “Previously Valued”?

[an]

Did anyone went to this auction? I didn’t bother going since like SD R said, most of it is 919**. How was the turn out? What’s the typical sold price compare to starting bid and “Previously Valued”?

[Author]

Posts