Today's Roebuck Auction Results...

[Ohio Girl]

Wow, there were some real steals at this auction, i.e., 33 Morgan Lane. Do y'all think this will send a signal to sellers to lower their prices or will it be back to business as usual?

 

[Busta Hustle]

good question ohio girl...it will be most interesting to see realtor owned properties that are listed...i wonder if their list prices will be as low as their bid prices?
i do think the seller in this auction was very smart in going first or at least early in the absolute auction process...I know there are several other multi property holders in the same circumstances...if this follows historical market busts we may have to go through several more months of auctions and then a wrong at any price period based on bank dumps and foreclosures...paying "retail" is still way off...maybe...

 

[Smiling JOe]

Thanks for the info SJ. Was the lot on Nursery Rd. a good lot? Deep water dockage? How far was it from Grayton Beach?

Looking at the aerial photo of the property, it appears to be at the end of a narrow body of water with marsh grass on both sides. I'm not sure of the depth of the water nor the dryness of the property.

 

[Camellia]

I own property on that stretch of Nursery Road. There are areas of wetlands and uplands on the south side of the road, in varying degrees on each of the 10-15 lots. The creek is shallow but probably a kayak could make it easily out to the bayou from there. Lots of pines and magnolias. It's pretty but am
quite surprised that the lot sold at auction for 100K, a decent profit for the sellers. Tax valuations were 85K this year, a substantial rise over '06.

 

[Smiling JOe]

Looks highly unlikely that 1340 W Lake Dr will sell at $765,000 unless he had a boat load of equity in it. According to the Property Appraiser's Office, he paid $1,375,000 for the house.

The Bay front houses in Freeport were purchased under $200K each, several years ago.


I guess each lender will look at all of the sales collectively, so who knows, maybe if it all balances out to even or just a slightly less than is owed, maybe properties like 1340 W Lake Dr will sell.

 

[Babyblue]

Looks highly unlikely that 1340 W Lake Dr will sell at $765,000 unless he had a boat load of equity in it. According to the Property Appraiser's Office, he paid $1,375,000 for the house.

The Bay front houses in Freeport were purchased under $200K each, several years ago.


I guess each lender will look at all of the sales collectively, so who knows, maybe if it all balances out to even or just a slightly less than is owed, maybe properties like 1340 W Lake Dr will sell.

It will all balance out just fine. ;-)

 

[lcauley]

Babyblue, How long have you been with Roebuck? What did the seller pay for the marketing budget?

 

[goin' coastal]

Does the same person own most (if not ALL) of these properties?

 

[Babyblue]

Babyblue, How long have you been with Roebuck? What did the seller pay for the marketing budget?

Atlanta Gull, I am not with Roebuck, never have been. But having said that I have conducted an auction on 30-A several years ago. This most recent auction worked.

 

[lcauley]

BB
What company did you have? Why did you decide to get out of the business? Seems to be pretty popular these days.