sold at the Alameda County Court house auction today - July 25, 2011

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You never know what you're buying when you buy at the auction , or even if
you can buy when you get there. Often things get cancelled last minute or an
opening bid is a false opening bid. Today, for example 29060 Eden Shores
says it was sold for $450,000 back to the back. However the truth is that
the bank had an opening "low bid" of $450k, and a reserved "high bid" for
$570k, meaning you couldn't buy it for less than $570k. The house is only
worth $540-$550k, so no one would buy this. What did the bank accomplish
with its shenanigans - well maybe it got a few extra bidders to show up, but
no one bid so it went back to the bank's inventory (REO).

-sunil


SUNIL SETHI REAL ESTATE

Sunil Sethi / Broker, President, REALTOR, MBA, CPA (inactive)
38750 Paseo Padre Pkwy Suite B3 / Fremont, CA 94536
Cell 510 388 2436 / Fax 510 431 9046

<http://www.sunilsethi.com/> www.sunilsethi.com

CA DRE#: 01173766

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