Around Pleasanton Around Town, posted by Editor, Pleasanton Weekly Online, on Dec 15, 2007 at 2:05 pm
I haven't been to a property auction since I was a kid and used to watch the fast-talking auctioneers selling off farms from the Wayne County Courthouse steps in rural Fairfield, Ill. So it's with some apprehension that I plan to listen in again tomorrow as Stacey Kennedy of Pacific Auction Exchange holds a live auction of a three-bedroom, one-bath home at 4040 Jensen St., across from Amador Valley High School. I'm not the only one apprehensive. Dora Mae Nairn, who has lived in the home since she moved there with her late husband Donald when it was newly built in 1954, is hoping to get a lot more for the house than the minimum bid Kennedy has set of $299,000. That's a lot more than the $15,000 the Nairns paid, but a lot less than the $500,000-$600,000 some of the Jensen tract homes have been selling for recently. That's why Nairn's neighbors are also concerned; an exceptional low bid that wins could affect property values up and down the street,
Read the full story here Web Link posted Friday, December 14, 2007, 12:00 AM
Posted by Don, a resident of the Downtown neighborhood, on Dec 17, 2007 at 6:53 pm
It sold for $435 in ten minutes or less. It started @$299 and sailed through the $100 in less than a minute. It stalled at $425 and spent the next five minutes inching up to the final price. I would guess there were about a dozen bidders and maybe over a hundred looker oners. Three quarters of the bidders did not even bid. Guess they were looking for a deal. There was a 10% fee on top of the price so the property sold for $478.5 thousand.
I have a property in another area of Contra Costa and will be looking into auctions.