So Cal Real Estate News

A while back the Sacramento Bee ran a good article on buying foreclosures. It reminded me of a very interesting experience with a HUD auction during the last recession in 1994.

Auctions

I teamed with a fellow Realtor and friend to research and bid on a major HUD auction of repossessed properties. From experience, we knew there would be lots of bidders and lots of competition, so we decided to focus on the least desirable location with the most REOs, which was at that time was Compton, and the least desirable type of property with the most REOs, which was condos.

I spent days researching about 50 Compton (more…)