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Are online home auctions due to tax or bank foreclosure helping or hurting. I think they're keeping prices artificially high by setting the minimum bid too high which leaves some homes on the market longer than they should be.
A lot of these cities and counties are using a site like bid 4 assets. Can't even view the progress of the auction without registration. These sites are great for out of state big money investors with computer capacity but the local investor, flipper or bargain hunter is screwed because it frequently inflates prices. This also helps explain the rise of the cash buyer and unsolicited offers
No investor (whether "big money" or local) is paying inflated (which I assume you mean to indicate above market) prices for any property, unless they don't wish to be investors any longer.
No investor (whether "big money" or local) is paying inflated (which I assume you mean to indicate above market) prices for any property, unless they don't wish to be investors any longer.
I just had a investor buy my house in Austin, Tx for over asking price.
@jimmy those are speculators, not investors - hedging their bets that prices are going to continue to rise. Plenty of them out there, though…
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