Who attended this weekend’s auction at the Hynes Convention Center?
One of my readers did.
i thought the prices were WAAAY too high. i think bidders were thinking it must be a good deal if they get a house 1/3 off the “market value” of the house, but the market values they had posted were based on the peak market price, which will not return for yrs, and the houses were generally dumps or had some severely limiting problems.
for instance, there was a 2 family in arlington we were interested in. it was 2800 s.f., i believe, looked good from the outside, but no one was allowed to see the inside b/c there were existing tenants. so i would guess they were probably hostile to the idea of being evicted. and the driveway was long but narrow, so cars would have to be shuffled around every morning. and arlington doesn’t allow overnight street parking. and the house sold for 480.
also, the auctioneers struck me as sleazy. no one could understand a damn thing he was saying b/c the sound system sucked, and he spoke very quickly as if it was a livestock auction. i thought it would have lent a classier air to the proceedings if he would have articulated clearly like a sotheby’s auctioneer.
and they had guys running around the room collecting bids, and they were trying to get you to bid higher than what the auctioneer was offering, which was easy to do b/c you couldn’t understand him. i was a bit glad i didn’t buy anything after i read that this is the same outfit responsible for those erik estrada infomercial ads where they sell unusable, swampy land in texas or somewhere.
What do you think?
Comments invited, capitalization encouraged.
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