Bay Area Sweet Digs

September 3, 2008

Going Once, Going Twice….Auction Time in the Bay Area

auction gavel Going Once, Going Twice….Auction Time in the Bay AreaThe week of September 20th will bring a fresh round of auctions from Real Estate Disposition Corporation (REDC). Starting in Sacramento on the 20th and traveling to Oakland, Fresno, Merced, San Jose, and Stockton, more than 900 homes will be available for qualified buyers. Opening bids begin at $1,000 and run the gamut. If you are interested in going this route, make sure you read auction website information very carefully, make verbal contact with REDC, and have all your financial ducks in a row. Normally you will need a cashier’s check of a certain amount to enter bidding, and they may require loan pre-qualification.

284 properties will go on the block in the Oakland area auction from Alameda, Napa, Contra Costa, and Solano counties. The auction will be held Sunday, September 21st at the Oakland Marriott City Center, Exhibition Hall at 1001 Broadway, Oakland. Registration is at 8am, with the auction starting at 9:30 am. You can preview homes scheduled for this auction from 11 am to 4 pm on September 6th, 13th and 14th.

139 homes will be auctioned in the San Jose area auction. Homes run from San Mateo County and Santa Clara County to Santa Cruze and Monterey counties, with a few homes from Alameda County and the San Luis Obispo area. The auction will be held Saturday, September 27th at San Jose McEnery Convention Center- Exhibit Hall 1, 150 West San Carlos St. San Jose. Registration is at 8am, with the auction starting at 9:30 am. You can preview homes scheduled for this auction from 11 am to 4 pm on September 6th, 13th and 14th.

Posted by susan.brady on September 3, 2008 8:00 AM | del.icio.us | Digg

  • Susan Brady
    Ian - I mentioned Monterey county as there are listings on the auction pages. But this blog is currently only covering 6 Bay Area counties, and Monterey is not one of those. Sorry.
  • Ian
    At the end of the day though you're still in Vallejo. That should knock another $100K off the price alone.
  • MD Account
    I just took a look at the list for Vallejo and some of the homes are in decent neighborhoods. One I'd toured a few months ago -- it's in a lovely neighborhood. The house is small (1100 sf), laid out a little oddly, needs updated kitchen and bath, and has some other general funkiness, but if someone picks it up for $100K they're getting a tremendous bargain. Drop another $100K in upgrades and you have a $200K house in a great location.

    I wouldn't go into any auction without seeing the homes in person, and as a matter of course I'd assume I'd have to redo the plumbing, electrical, and HVAC, plus a bathroom and kitchen remodel and possibly some structural work. I'd build that into my financial plan and only bid if it was still a bargain. You might get lucky and not need to do all that work but I'd rather have a pleasant surprise than an unpleasant one.
  • Want a deal
    Should there not be deals in the Monterey BAy??? things are going down there as well lets post them!!
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