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Category Archive: ‘Unbelieveable’

REO-Auction Contest Results

My high school baseball coach used to say,

“I don’t believe anything I hear, and only half of what I see!”

In our latest contest, readers submitted their guess at the highest bid + 5% buyer’s premium for this property in SE Carlsbad:

http://www.bubbleinfo.com/2014/06/03/carlsbad-reo-contest-2/

lamaca4

The auction included an outrageous set of conditions, which many thought would drive down the price to compensate.  They included:

  1. The 5% buyer’s premium tacked onto the highest bid.
  2. No showings.
  3. Tenant-occupied, and buyer was responsible for evicting.
  4. Cash only.
  5. No buyer’s agent commission paid.
  6. Not in the MLS.
  7. 5% deposit required upon winning.
  8. Reserve price.

They conducted the auction online, which gave participants the convenience of bidding from their couch at home. It should have allowed bidders the chance to double-check the comps as the auction wore on – because every time a new bid was made, they extended the ending by 1-2 minutes.

Those checking the comps would have seen that in the heat of the frenzy last year, three of this identical model sold for $638,000, $653,000 and $679,000.  Then in October this sale with nice view closed for $705,500, which was the highest price since May, 2007:

http://www.sdlookup.com/MLS-130050274-2704_La_Duela_Ln_Carlsbad_CA_92009

The bank foreclosed in 2011, and nobody wanted it then for $459,088.  The opening bid this week was $325,000, and once the auction started the initial bid increment was $25,000.

Most of our readers guessed it would sell in the $400,000s, which would be an adequate buffer to evict and remodel.

Look what happened today:

lamaca42

AND IT DIDN’T HIT THE RESERVE PRICE!!!!!!

Somebody was willing to pay almost $200,000 more than the bank didn’t get in 2011, and that wasn’t enough to reach the reserve price?  Hopefully the bank will come to their senses and reconsider before that bidder changes their mind.  Counting the 5% buyer’s premium, the highest bid was $678,038!

Our closest and winning guess was $568,050, and submitted by blucore – congratulations!

Posted by on Jun 9, 2014 in Auctions, Contests, REOs, REOs for sale, Unbelieveable | 15 comments

Rapping Realtor

Speaking of other realtors using video, our local TV station, Channel 10, featured this realtor because of his youtubes:

SAN DIEGO – A local real estate agent is busting out some lyrics. He is not a professional rapper, but he is trying to generate business any way he can.

Rafael Perez is a Bonita-based agent for Dominion West Properties. He has produced more than 50 informative videos before but his friends and coworkers let him know they fell on the bland side.

“Most of the time people said, ‘Hey, it’s a really informative video. It was great information, but loosen up, try to be funny and have fun with it,'” Perez told 10News after reporter Joe Little found the would-be rapper’s video on YouTube.

“Home ownership is back, now the new routine,” Perez raps in the video.

Perez actually has a miniature TV studio in his office complete with tripod, green screen and a video editing program on his laptop.

“I recorded the whole thing with my phone,” he said.

http://www.10news.com/news/rapping-realtor-produces-video-on-san-diego-housing-market

Posted by on May 5, 2013 in Unbelieveable | 4 comments

Transparency Strikes

TracyGlesby

Tracy Glesby is a real estate agent. No doubt she’s good at her job.

But D Magazine did not name her a Best Real Estate Agent in either 2011 or 2012, as one would be led to believe by her Facebook page.

Glesby and I aren’t friends, so I can’t see her timeline. But the screenshot you see here was taken today. Which is why I like this lady’s moxie. Because last Wednesday, she got a call from our brand manager, politely asking her to remove the Best logos that she had not earned. Some snippets of that conversation:

D Magazine: “I’m curious. How is it that you acquired these logos? I am the person who disseminates these to the winners, so I am unsure how it is you even have one.”

Tracy Glesby: “Uhh, you can just google image it.”

And then:

D Magazine: “Our editors and fact checkers go through a very rigorous process to determine these lists, and when it is misconstrued or intentionally misrepresented by someone claiming to have won when it was not actually bestowed upon them, it really undermines the prestige.”

Tracy Glesby: “Ok, well, now you’re just using a bunch of words that I don’t understand. I’m an end-game person. Let’s just get to the end of this. If I take those two little logos off, are we all good? Because I can do that when I get to the office in the morning.”

As I say, that conversation happened last Wednesday. Yet the logos remain. That there is what you call stick-to-it-ness. You put your house on the market, and it doesn’t sell the first day? Tracy Glesby isn’t going to give up. To make the sale, that lady is going to do whatever it takes.

Hat tip to “just some guy” who saw this at patrick.net:

http://frontburner.dmagazine.com/2013/03/25/tracy-glesby-my-new-favoite-real-estate-agent/

Posted by on Apr 1, 2013 in Train Wrecks, Unbelieveable | 11 comments