s******e
发帖数: 15 | 1 With the recession, credit crunch, and foreclosure tsunami deep in the 3rd
year, REO auctions have been going strong for a while. There have been
reports about houses for $1000 or even less. But the real question is: do
you have the gut to buy any?
I went to several auctions, but didn't dare to bid. Seasoned realtors told
me the auction price is at or above market prices, which is also what I saw.
After figuring in the 5% buyer's premium, it's really not a good deal
anymore. Besides, I never saw | s******e
发帖数: 15 | | K****D
发帖数: 30533 | 3 ft, I always thought the auction would be held in the field,
right in front of the house...
【在 s******e 的大作中提到】
: REO Auction 现场
: 亲眼目睹一下。
| s******e
发帖数: 15 | 4 This is the REO auction. This happens when the bank has taken control of the
house, hence REO (real estate owned, a line item in their book). This
particular auction was in Washington DC, and has 400 houses for sale,
covering Maryland, Virginia and Washington DC.
The auction in front of house happens, but with these many REOs, it'll be
impossible to perform all auctions at each location. Actually, that'll be a
advertisement camppain disaster. Think all the 400 newspaper ads. And this
is only for
【在 K****D 的大作中提到】
: ft, I always thought the auction would be held in the field,
: right in front of the house...
| K****D
发帖数: 30533 | 5 But I wouldn't buy a house just by looking at some pictures ah...
Just like buying a house from eBay? The buyers in interest will
have to go to that house and see everything anyway, so it would
be convenient for them if the auction is at the spot.
The REO thing makes sense if there are too few buyers for each
house, so a 400-house auction still won't be too crowded. Otherwise
independent auctions will be much more efficient. Imagine if you
are a buyer of house #400, and you have to sit through a
【在 s******e 的大作中提到】
: This is the REO auction. This happens when the bank has taken control of the
: house, hence REO (real estate owned, a line item in their book). This
: particular auction was in Washington DC, and has 400 houses for sale,
: covering Maryland, Virginia and Washington DC.
: The auction in front of house happens, but with these many REOs, it'll be
: impossible to perform all auctions at each location. Actually, that'll be a
: advertisement camppain disaster. Think all the 400 newspaper ads. And this
: is only for
|
|
