Welcome! My friends at Business Insider publicized the open bidding event today:
We listed this 1,541 sf house on November 2nd for $399,000, based on these model-match sales:
$360,000 – July, 2012
$350,000 – August, 2012
$380,000 – September, 2012
$390,000 – September, 2012
$399,000 – October, 2012 (short sale in progress)
We had five bidders, and ran the sales price up to $411,500 using this open-bidding process.
For those new to bubbleinfo, here is the full video:
The 2,007sf house right next door closed for $350,000 a month ago, on a fraudulent short sale. The buyers of that home strategically defaulted on their old home three years ago, and now got back in the game, thanks to FHA. But I got our appraisal to come in at $411,500!