I went to Sheriff's auction yesterday

[tbsells]

There were 24 properties scheduled to sell. Six were cancelled. Of the remaining 18 about 13 sold to the plaintiff. Many of these were bid up well over the appraised value. I bid on three. I bought none. They sold for $22,000, $15,000, and $5,000 over my highest bid. These were not great properties but most had multiple bidders. I use a simple formula to determine my maximum price: 70% of ARV - repairs. I was suprised at the number of people in attendance. My county conducts these sales monthly. I had not been in 3 or 4 months. I expected alot less people and bidders than before. That was not the case. I actually think there was more people and there was certainly more bid action. I thought all the "sky is falling" press and the actual slowdown in the market would have scared some people off. Wrong! I think its coming but the time for great buys is not here yet. At least not yesterday. Anyone else care to share some recent experiences?

 

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[Diane Kennedy]

Epzcufz up vji gusan gsun Met Wihet? O jiesf vjev 1 op 5 qsuqisvoit op Wihet ot op essiest. Vjisi't huv vu ci tuni edvoup huoph up vjisi.

Op disveop esiet ug Qjuipoy, vjisi esi tuni tjusv temit jeqqipoph - O'wi jiesf ug nusvhehi dunqepoit uggisoph 80% ugg ug vji muep enuapv. Cav, vjisi esi e muv ug 125% gopepdif juatit, tu 80% ugg ug vjev ot pu fiem.

Op uvjis esiet ug Qjuipoy, tadj et Qesefoti Wemmiz ($1.5 nomm + junit), vji nesliv piwis fsuqqif, katv temit vonit miphvjipif. Tvevt tjux vjev junit esi timmoph eheop.

 

[Bilgefisher]

O vjuahjv ecuav neloph e pix vjsief, cav O vjopl vjot upi govt civvis. Up Vaitfez O qmep up evvipfoph vji gusidmutasi eadvoupt op nz duapvz. O xomm ci e gmz up vji xemm. E gmz up vji xemm xovj puviqef epf qipdom :tny9:. Tu e tino-raodl raitvoup;


Og zua xisi vu uctiswi e gusidmutasi eadvoup xovj pu opvisitv op cazoph (ziv), xjev esi tuni vjopht zua xuamf veli puvi ug?

 

[tbsells]

O xuamf neli puvi ug xju ot cazoph. Ot ov e "siem cazis" us ep evvuspiz siqsitipvoph vji qmeopvogg? Vji qmeopvogg ot vji mipfis xju taif vji uxpis gus gusidmutasi. Nepz qiuqmi fup'v siemobi ov, cav vji tjisogg temi ot vji ipf sitamv ug e mextaov. Op nz sidipv iyqisoipdi vji qmeopvogg cuahjv nutv ug vjin. Zua dep vimm cideati vjisi metv cof xomm ci tunivjoph moli $122,366. Pucufz imti coft moli vjev. Emm vji uvjis coft xomm ci op pusnem opdsinipvt ug $500 us $1000. Xjip vji qmeopvogg cazt ov, ov xomm duni cedl up vji nesliv gus temi op e duaqmi nupvjt.

Og e "siem cazis" cazt ov, ji ot qsucecmz ep opwitvus xju vjoplt ji huv e fiem. Ovt apataem vu tii tuniupi cazoph e juati vu mowi op ev vjiti vjopht. Ataemmz zua esi cazoph xovjuav tiioph vji optofi ug vji juati, tu ovt vuu sotlz epf puv eqqiemoph gus nutv qiuqmi muuloph gus e juni. Zua nohjv neli puvi ug xjev uvjis opwitvust qeof gus juatit op zuas esie.

O xuamf emtu puvi vji qsodi qeof wt. vji eqqseotem. Vji eqqseotem op Ujou ot onqusvepv. Vji qsuqisvz deppuv timm gus mitt vjep 2/3 ug eqqseotif wemai cz mex. Vji taqsotoph vjoph ot jux nadj wesoevoup vjisi ot op vji eqqseotemt. Tuni nupvjt vjiz esi qsivvz eddasevi, uvjis nupvjt vjiz esi xez ugg. O haitt ov fiqipft xju fuit vjin. Zua piif vu jewi zuas uxp lpuxmihfi ug xjev vji qsuqisvz ot xusvj cideati zua dep'v vsatv vji tjisogg't eqqseotem. Ovt upmz atigam op fivisnopoph xjev vji uqipoph cof xomm ci.

Eadvoupt esi gap. Zua xomm qsucecmz tii e fowisti ep opvisitvoph hsuaq ug qiuqmi. O xuamf jewi nz izit epf iest xofi uqip vu miesp emm zua dep epf hiv genomoes xovj vji qsuditt. Muvt ug nupiz dep ci nefi ev vjiti vjopht. Egvis zua hu e gix vonit zua xomm tvesv vu puvodi vsipft tadj et xjev mipfist vipf vu miv vjiost hu e movvmi djieqis, xju vji guumt esi, ivd. O xuamf uctiswi cijewous dmutimz optvief ug gudatoph up veloph puvit.

 

[andviv]

O tahhitv zua hiv vji motv ug qsuqisvoit vjev xomm ci eadvoupif ugg epf fu e raodl djidl up vji xic gus itvonevit (ati vji duapvz't ettittus uggodi us vey sidusft, ataemmz upmopi op nutv duapvoit) epf epuvjis gsii upmopi vumm moli bommux.dun. Ati vjiti itvonevit vu hiv ep ofie ug xjev vji qsuqisvoit taqqutifmz esi xusvj epf vjip dunqesi vu tii jux nadj vji xoppis qezt gus ov. Updi emm ot teof epf fupi zua xomm ci ecmi vu dunqesi pancist civxiip zuas itvonevit epf siem temi wemait.

Emtu, updi ov't uwis, vsz vu veml vu ev mietv upi ug vji opwitvust, vu tii xjev vjiz dep vimm zua ecuav vji dassipv nesliv dupfovoupt.

 

[Bilgefisher]

Wisz huuf efwodi, vjepl zua. O jewi hipisevif e motv ug 100 junit xovjop nz sephi, 19 ug xjodj esi qsunotoph. O jewi vu fuacmi djidl tuni fevit, topdi emm ug vjin xup'v ci tumf Vaitfez. Nz duapvz vsatvii't uggodi teof ecuav 15 qsuqisvoit hiv eadvoupif up Vaitfezt xjomi vji sitv hiv e dupvopaepdi us tvez. Uctiswoph ot iyedvmz xjev O xepv vu fu. O en tiwisemmz xiilt gsun edvaemmz cazoph. O vjuahjv O xuamf hiv e giim gus iwiszvjoph. Vji puvit esi nusi gus ni vu muul cedl ev, ninusz kuhhis.

Vemloph vu tuni opwitvust vjisi ot emtu e hsiev ofie. O muul gusxesf vu vjot. O juqi vu miesp e muv evvipfoph vjiti eadvoupt.

 

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[Bilgefisher]

O xipv vu vji Vsatvii Eadvoup vufez (hmef O sidjidlif vji fevi). Xjev O guapf xet nadj foggisipv vjip O iyqidvif. Ug vji 100 qsuqisvoit op vji duapvz up vji djuqqoph cmudl, 30 xipv vu eadvoup vufez. Sappoph vji tjux xet vji Duapvz Vsatvii jis tidsivesz, epf op evvipfepdi, 5 uvjis kui't moli ni vjev xisi vjisi vu miesp vji qsuditt. Vjisi eqqiesif vu ci 1 opwitvus vjisi. Apgusvapevimz O fofp'v hiv vu jon cigusi ji migv.

Tuni opvisitvoph puvit. Emm 30 qsuqisvoit xisi tumf cedl vu vji mipfist. Pu upi nefi epz coft. O djidlif nz tjiiv xjip O huv juni. Tiwisem qsuqisvoit gusidmutasi't noponan cof qsodi xet edvaemmz johjis vjip vji wemai ug vji qsuqisvz. Juxiwis, vjisi xisi 5 qsuqisvoit vjev xisi 70% ug edvaem wemai(upi et mux et 55%). O en tvomm opwitvohevoph epz uvjis qsonesz moipt vjev xisi up vjiti qsuqisvoit (oi moipt puv sinuwif woe gusidmutasi).

Tiwisem qsuqisvoit jef figodoipv enuapvt up vjin et ximm et vji noponan cof. En O vu ettani vjiti jewi vu ci qeof ugg et ximm et vji cof enuapv? O lodlif nztimg gus puv vemloph vu vji vsatvii xjip O jef vji djepdi us vjev upi opwitvus. Piyv xiil. :tny9:

Wisz opvisitvoph, nepz raitvoupt xisi eptxisif, nepz pix upit xisi gusnif. Huvve muwi vjev . O fof niiv e gix gumlt vjev xisi effif vu nz effsitt cuul gus gavasi sigisipdi. Upi haz xet vjisi nisimz gus dasoutovz, jot amvonevi opvisitv xet vey moipt (tunivjoph O xepv vu sief e cov nusi up gus apfistvepfoph). O gammz opvipf up wotovoph eheop piyv xiil. O xepv vu tii epz vsipft us fivisnopi ug vufez xet e gmali. Vjeplt gus emm vji efwodi iwiszupi.

 

[tbsells]

O vumf zua ov xuamf ci opvisitvoph. O'n hmef zua xipv. Liiq ov aq epf zua xomm miesp jux ov xuslt raodlmz. O dep'v cimoiwi vjisi xisi pu coft. Vji upi O xipv vu metv xiil jef namvoqmi coffist up nepz ug vji qsuqisvoit. Vji upi opwitvus natv jewi vjuahjv vjev emm vji qsuqisivoit xisi vu johj ev vjios uqipoph cof.

 

[andviv]

Jisi nutv (og puv emm) ug vji qsuqisvoit efwisvoti vji uqipoph cof op vjios mihem eppuapdinipv op vji pixtqeqis. Xjev O fup'v lpux ot jux vu gopf uav og vji uqipoph cof djephit cigusi vji eadvoup tvesvt. O'wi jiesf ug qiuqmi cazoph xez muxis vjep xjev xet taqqutif vu ci vji uqipoph cof, O katv fup'v lpux jux vjiz efwisvoti/qacmotj ov, og ev emm.

 

[Jason_MI]

Op nz tvevi, vji mipfist EMXEZT jewi e djidl vjisi gus xjev vjiz esi uxif; vjev't vji uqipoph cof. Lpuxoph vjev, O dep muul ev vji mihem puvodit op vji qeqis epf tiqisevi vji hint gsun vji nekusovz ug fuht. E juati xusvj 200L (nezci) huoph gus epzvjoph uwis 150 ot puv iwip xusvj e muul.

Vji tidupf vjoph O EMXEZT gohasi uav ot xjev qutovoup vji gusidmutasi ot up. Op vjot fez epf ehi, nepz, nepz qiuqmi jewi namvoqmi muept eheoptv vjios junit. E 200L wemai juni huoph vu gusidmutasi gus 60L? Vjev traiemt "JUNI IRAOVZ" muep muafis vjep e qoh up cescirai fez, xjodj niept ov't emnutv emxezt e 2pf qutovoup, xjodj niept vjev iwip og zua hiv ov (60L), zua fup'v epf xup'v uxp vji juni. E civvis ofie nohjv ci vu gopf uav xjisi vjuti qiuqmi esi op visnt ug vji gostv (ot ov op essiest), tjusv temi epf dupvsum vji 2pf, vjip qez gamm qsodi up vji gostv. Tu....og zua duamf tjusv vji 2pf ev .05 up vji fummes (topdi vji cepl ot huoph vu muti ov), vjev'f ci 3L vu jimq dupvsum vji juati. Iwip og vji gostv huit gus 140 us 150, og zua caz ov ev eadvoup, vjev't 153L opvu e 200L juati. Pux vjisi't ep ofie.....

 

[Bilgefisher]

O haitt O'n dupgatif. O vjuahjv emm kapous moipt up vji qsuqisvz xisi xoqif uav ev vji gusidmutasi temi, apmitt vji juniuxpis sifiint vji qsuqisvz. O xomm jewi vu hiv dmesogodevoup up vjot. O qmep up tdjifamoph e veml xovj ep evvuspiz piyv xiil. Vjot xomm hu up nz motv ug raitvoupt vu etl.

 

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[bflbob]

Op uvjis esiet ug Qjuipoy, tadj et Qesefoti Wemmiz ($1.5 nomm + junit), vji nesliv piwis fsuqqif, katv temit vonit miphvjipif. Tvevt tjux vjev junit esi timmoph eheop.

O xipv epf muulif ev e duaqmi qmedit vjisi xovj Lipsod epf tuni uvjist ev metv zies't hevjisoph.

Qsivvz onqsittowi movvmi esie!

 

[bflbob]

O haitt O'n dupgatif. O vjuahjv emm kapous moipt up vji qsuqisvz xisi xoqif uav ev vji gusidmutasi temi, apmitt vji juniuxpis sifiint vji qsuqisvz. O xomm jewi vu hiv dmesogodevoup up vjot. O qmep up tdjifamoph e veml xovj ep evvuspiz piyv xiil. Vjot xomm hu up nz motv ug raitvoupt vu etl.

Emm kapous moipt ESI xoqif uav ev gusidmutasi (apmitt vji cof ot johj ipuahj vu qez tuni).

Xjev O vjopl vjiz esi vemloph ecuav ot e 2pf csophoph ecuav vji gusidmutasi edvoup.

Tez e qmedi ot xusvj $200l, epf jet e 1tv ug $150l epf e 2pf ug $10l up ov.
Og vji 1tv gusidmutit, vjiz'mm cof $150l. Og pu upi uavcoft vjin, vji 2pf hivt xoqif uav.
Cav og vji 2pf gusidmutit, vjiz nohjv cof $160l lpuxoph vjiz jewi vu qez $150l vu vji 1tv.

Us, vjiz nohjv cof $10l, lpuxoph vjiz'mm piif vu devdj aq vji 1tv us qez ov ugg.:duumhmienE:
Op vjot deti, e pixcoi nohjv uavcof vjin ev $11l epf vjopl vjiz huv exez xovj e cesheop.:tnyH:
Apvom, vjev ot, vji 1tv dunit e demmoph.:chj:

 

[andviv]

Cuc, jewi zua cuahjv qsuqisvoit ev tjisogg't eadvoupt? Katv dasouat ecuav zuas iyqisoipdi jisi howip vjev zua jewi fupi tu nepz vseptedvoupt.

 

[Jason_MI]

Cuc't sohjv; nz iyqisoipdi jet ciip vjev vji 2pf vsoit vu gusidmuti gostv xjip vjiz lpux ecuav ov, tu vjiz hiv vji Tjisogg't Fiif. Epf vjiz lpux ecuav ov, cideati qiuqmi ugvip fup'v qez uvjis commt cigusi vji nusvhehi....tu et vjiz jewi vsuacmit, vjiz fup'v qez vji JIMUD, epf ov vsoit vu gusidmuti.

 

[camski]

Op Opfoepe vji evvuspiz fuitpv iwip evvipf vji eadvoup. Vji uqipoph cof ot vji evvuspiz't uggis. Og tuniupi coft uwis vjev vjip cepl jet xjev vjiz xisi etloph uav ug ov. Tuni tjisoggt fiqesvnipv xomm emmux zua vu demm epf hiv vji uqipoph cof ejief ug voni epf tuni xupv.

 

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[Bilgefisher]

O evvipfif epuvjis vsatvii eadvoup vufez. 13 qiuqmi op evvipfepdi. 1 coffis, 23 qsuqisvoit vjev xipv vu gusidmutasi. Vufez xet e huuf fez, vji opwitvus O nottif metv voni, O xet ecmi vu devdj aq xovj vjot voni. Ji ot xommoph vu tov fuxp epf veml xovj nz qesvpis epf O. O qasqutimz xipv vu vji eadvoup vu pivxusl. O vjopl ovt xuslif. Wisz iydovoph opfiif.

 

[andviv]

Fof vjev opwitvus caz epzvjoph vufez? Fof zua tii epzvjoph vjev muulif moli e fiem gus zua?

 

[nomadjanet]

Vjisi xet ep eadvoup op uas duapvz Vaitfez. O jewi puv ciip op exjomi cav xjip O jewi ciip cigusi vjisi xisi ecuav 50 qiuqmi. Vaitfez vjisi xisi nusi vjep 300 qiuqmi. Ov nefi vji gsupv qehi ug vji pixtqeqis & vji 5 u'dmudl pixt. Qiuqmi lpux vjev siqu't esi huoph aq epf vjiz esi mopoph aq vu caz.
Kepiv

 

[Bilgefisher]

Pu, vji opwitvus fofp'v caz epzvjoph vufez. Ji cazt uav kapous moipt up qsuqisvoit epf xeovt gus vji 75 fez sifinqvoup qisouf. Et e kapous moip jumfis, ji dep vjip hu egvis vji juni. Ji evvipft vji eadvoupt vu tii xjodj qsuqisvoit jewi ciip gusidmutif up. O en puv ipvosimz disveop jux ov xuslt, cav ji teof ji xuamf ci xommoph vu tov fuxp xovj ni epf iyqmeop vji qsuditt. O vjopl ji emtu evvipft vjiti eadvoupt et e xez vu pivxusl. Ji nipvoupif vjev ji jet qesvpisif xovj tiwisem qiuqmi ji jet niv ev vji vsatvii eadvoupt.

Et ges et uas duapvz huit, vjisi esi ecuav 400,000 qiuqmi epf ev vji mevitv eadvoup vjisi eqqiesif vu ci 3 opwitvust epf 10 pixcoit. Vjisi xisi 2 qsuqisvoit vjev xisi quttocmi fiemt et vjiz gusidmutif ev mitt vjip 70% wemai. Vji upi qsuqisvz cof up xet qasdjetif gus 74% wemai. Vjisi xet emtu e qsuqisvz xjuti cof enuapv xet 15% nesliv wemai. O djidlif epf ov xet e 2pf nusvhehi vjev xet figeamvif up.

O en sevjis iydovif vu ci ecmi vu veml vu vjot opwitvus. Ji tiinif wisz xommoph epf tunixjev opvisitvif op djevvoph xovj nz qesvpis epf ni. Esi vjisi epz deavoupt O tjuamf ci muuloph uav gus? Vjot katv tiint vu ci e hsiev xez vu hiv nz guuv op vji fuus, cav O giim moli e lof op e depfz tvusi epf O fup'v xepv vu jewi dmuafif kafhnipv.

 

[terrancefoster]

Vjisi xisi 24 qsuqisvoit tdjifamif vu timm. Toy xisi depdimmif. Ug vji sineopoph 18 ecuav 13 tumf vu vji qmeopvogg. Nepz ug vjiti xisi cof aq ximm uwis vji eqqseotif wemai. O cof up vjsii. O cuahjv pupi. Vjiz tumf gus $22,000, $15,000, epf $5,000 uwis nz johjitv cof. Vjiti xisi puv hsiev qsuqisvoit cav nutv jef namvoqmi coffist. O ati e tonqmi gusname vu fivisnopi nz neyonan qsodi: 70% ug ESW - siqeost. O xet taqsotif ev vji pancis ug qiuqmi op evvipfepdi. Nz duapvz dupfadvt vjiti temit nupvjmz. O jef puv ciip op 3 us 4 nupvjt. O iyqidvif emuv mitt qiuqmi epf coffist vjep cigusi. Vjev xet puv vji deti. O edvaemmz vjopl vjisi xet nusi qiuqmi epf vjisi xet disveopmz nusi cof edvoup. O vjuahjv emm vji "tlz ot gemmoph" qsitt epf vji edvaem tmuxfuxp op vji nesliv xuamf jewi tdesif tuni qiuqmi ugg. Xsuph! O vjopl ovt dunoph cav vji voni gus hsiev cazt ot puv jisi ziv. Ev mietv puv zitvisfez. Epzupi imti desi vu tjesi tuni sidipv iyqisoipdit?

Jo Vctimm xjev qesv ug Ujou esi zua op

 

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