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Are these bids for real?

By John Bailo   Follow   Wed, 28 Nov 2012, 9:53pm   347 views   3 comments
In Kent WA 98030   Watch (0)   Share   Quote   Permalink   Like   Dislike (1)  

Somehow I found this site, http://www.auction.com

The site appears to be an e-Bay for houses, where you can enter bids on short sales.

The thing is the Reserve Price, or the lowest bid the seller says they would accept, is phenomenally low...and on many of these houses...there are no bids at all!

Does this mean that these prices could be the true free market value..sans all the the chicanery?

Example:

http://www.auction.com/Washington/residential-auction-asset/1391595-3119-1754-NE-90TH-ST-SEATTLE-WA-98115-O602

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1. Entitlemented Follow Befriend 5 threads 197 comments Goleta, CA

   1   10:39pm Wed 28 Nov 2012   Share   Quote   Permalink   Like   Dislike   Actually I went to an Auction.com auction in SB today. All Auctions were postponed. This due in part to AB278. The banks are there, they can buy the bid, and then go to short sale, as the market picks back up.

2. taxee Follow Befriend 88 threads 458 comments El Cerrito, CA Premium

   2   5:53am Thu 29 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   You can google 'auction.com opinion'. Buyer be ware. My sense of things in the repo market is that unless you have 'connections' and a team of legal beagles you will get screwed. Probably by design. Google 'mers' and hold on to your wallet.

3. taxee Follow Befriend 88 threads 458 comments El Cerrito, CA Premium

   3   5:55am Thu 29 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   The 'right' people can have all the property they want. The average Joe not so much.