A Wreck of a Price

by | Aug 17, 2013 | Auctions, Bubbleinfo TV | 5 comments

Because price is so important to making a good first impression on the buyers, it would make sense to make it attractive….and realistic.  This price sounds like a mistake – or a joke.

P.S. Former owner paid $898,500 in 2005 and financed 100%.

5 Comments

  1. avgjoe
    avgjoe on August 18, 2013 at 8:26 am

    when I see an unrealistic price on a house I automatically think scam and stay away.

  2. elbarcosr
    elbarcosr on August 18, 2013 at 10:13 am

    Auction.com business model is the fake lowball opening bid to generate more bidders. Has been since day 1. The auctioneer typically bids on behalf of the beneficiary alongside those at the auction until they get passed the reserve price. It is funny to have 4 people actively bidding on a property up to a point only to have the gavel fall and its announced “back to the beneficiary”.

  3. no_techie
    no_techie on August 18, 2013 at 1:17 pm

    Haven’t heard the background chirpies for a while 😉

  4. swm
    swm on August 20, 2013 at 11:21 am

    I learned the hard way with Auction.com, and I wonder how many others, like myself, won`t go anywhere near it.

  5. Jim the Realtor
    Jim the Realtor on August 20, 2013 at 11:40 am

    Notes about this house/sale on the auction.com website:

    “One Time Only Auction”

    “Bank-approved short sale” but according to foreclosureradar they did complete the trustee sale in Jan 2012. Former owner must have fought it?

    “Buyer’s Premium” = 5% of winning bid, but a big turnoff to buyers. They should get the sellers to pay.

    Online auction begings 8/29 is concludes 9/1 – I have to remember to come back and see how it turned out.

    http://www.auction.com/California/residential-auction-asset/1491923-5406-7318-SITIO-LIRIO-CARLSBAD-CA-92009-O390

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