Real Estate Broker · Bronx, NY · Member since 2011 · 597 posts · 341 votes
Hey everybody,
I'd like to see if anyone went to auction.com's Philadelphia auction event held last Saturday. I'm curious to know if anyone here purchased anything and what they thought of prices. I saw houses being auctioned off for more than twice what I would've paid for them. However because we spent the weekend prior looking at over 30 properties in the area to prepare for this we wanted to connect with anyone doing some investing in Philly. Looks like a good market to play in. Any insight would be appreciated.
Do you think that they were really being sold at investor prices? I know auction.com did well that day, but the highest bid prices were more like retail prices to me.
Lender · Berkeley, CA · Member since 2017 · 1k+ posts · 549 votes
8y
I️ know one person who overpaid a bit but he’s planning on buy/hold and get cash flow in the city.
I️ can find out the numbers if it’s that important but I️ think there were many seasoned investors there who I️ know purchase at the PSFSale. They made purchases.
Have to figure wife 70% sold a decent amount were ripe for investment. Surely some went to high.