Let The Auctions Begin in Irvine

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graphrix_IHB

graphrix_IHB

New member
I saw an ad in the OCR tonight for http://ushomeauction.com/ and they have some Irvine homes for this HUGE 4-day auction event.

71 Avondale 92602 minimum bid $369k. It has been listed on the market for 158 days at $679k.

62 Chula Vista 92602 minimum bid $329k. This one isn't listed but 73 Chula Vista is and it has enough Realtamation marks screaming short sale for $669k. This little area has been hit pretty hard when it comes to foreclosures.

Be sure to check this one out and just to the right of the picture click on "the agent's visual inspection report". Mmmm foreclosures smell good.
 
Another REDC event? Did anyone follow the last one to see if any bargains were had? Apparently the previous one in San Diego really did have a few bargains, relatively speaking.
 
Does anyone understand how exactly a house ends up at auction? Does every foreclosure go to auction or do some banks attempt to sell the homes in the traditional manner???
 
oc_ft - I didn't hear anything about the REDC event in LA. I think it was because there was only a few properties from OC so the OCR propbably didn't think it was worth it. I will email Padilla to see if he is on it and remind him for 15th time of the Fraud Park clan. Depending on my schedule I may go to this one.

movingaround - Most banks will list the house with an agent and try to sell it the "traditional" way first. Once they can't get rid of it like 71 Avondale they would just rather cut their losses and not have a depreciating asset on their books. Auctions were really popular in the 90s and REDC was there then as they are now.
 
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