Update from the Foreclosure-Based Economy 0
The auction business is bullish.
There were three pages of announcements for foreclosure auctions in this morning’s local rag. In the olden days, there might be one or two–auctions, not pages.
In another story, the local rag recounted the experiences of a couple who regularly buy at auction:
That’s how they snagged the property for $108,000 less than its assessed value.
“It’s a more honest way to sell homes,” Frantz said of the auction. “There’s no games.”
He paused.
“There’s games after. The bank can counteroffer. But we’ve been through that process.”
Auctions are growing in popularity as a way to buy real estate, according to Auction.com.
