Comments on: First Hand Account: My Visit to a Home Auction

By: PeterMontee

PeterMontee — Thu, 02 Jul 2009 21:20:22 +0000

Matchless theme….

By: PeterMontee

PeterMontee — Thu, 02 Jul 2009 21:04:01 +0000

I congratulate, what words…, an excellent idea

By: LeraJenkins

LeraJenkins — Sun, 21 Jun 2009 22:03:20 +0000

You could not be mistaken?

By: LisaStratus

LisaStratus — Sun, 14 Jun 2009 13:00:24 +0000

I congratulate, your idea is brilliant

By: Back on the Market: My Visit to a Home Auction, Part 2 | Redfin San Francisco Sweet Digs

Fri, 10 Oct 2008 19:01:51 +0000

[...] couple of weeks ago, I wrote about my visit to the REDC Home Auction in Oakland, with hopes of being the winning bidder on a small 1 bedroom condo [...]

By: Jenny P

Jenny P — Tue, 23 Sep 2008 04:56:19 +0000

Susan – yes, the auction was very interesting – from being a spectactor for a good 2 hours before the property I was interested came up to actually getting into the thick of things.

JCA – I must admit I was pretty surprised that some homes that sold the first time came back around. It seemed like to me that if you won the auction, then it’s yours and you had to pay for it not matter what or how. Maybe given the current environment, the sellers/ banks are willing to let the 1st winner off the hook if they can make it.. not sure. As I guess it will just go on auction again and why not do it while you are at an auction.

Readers: If you want any more insight and you are planning to go to the San Jose area one this Saturday, happy to give you more details than you ever want! Just let me know.

By: JCA

JCA — Tue, 23 Sep 2008 00:37:52 +0000

The second chance auction sounds like it could be used to low ball the bank. Not by REDC but because of it’s structure. If a buyer sends in shills to bid on the property, then the property, which might have sold for 270K, ended up selling for 215K. Suspect bad certified checks. Hmmmm…am I too suspicious

By: Adam Schwartz

Adam Schwartz — Mon, 22 Sep 2008 20:11:33 +0000

Oy, I can’t believe anyone is still talking about 95% loans. Come on. If you can’t put 20% down, don’t buy a home.

By: Susan Brady

Susan Brady — Mon, 22 Sep 2008 17:56:32 +0000

Jenny

I am so glad that you attended an auction, not just to see it but as an active participant. It’s good to give our readers a “real” view of what goes on at these events and how they work. I’m glad you were able to stick to your guns, although as you say, $5k is not much of a stretch. With a 95% loan at 8%, the difference in payments would have been $32/mo plus an extra $6/mo in RE taxes.