Leadpile’s Blog

In the current state of the housing market and economy, there are many homes being sold or auctioned for well below the value they would have been sold at 3, 4 or even 5 years ago. During the housing boom, prior to the poor economic state, large amounts of people attempted to make money by buying and then quickly selling new houses and condos. That kind of flipping came to a halt as the economy started to fall, and now the flipping is being fueled by bargains at foreclosure auctions.
According to msn.com, there are many risks with purchasing auctioned homes, as buyers often times have to make quick buying decisions without being able to inspect the house prior to purchasing. When purchasing these homes, bidders need to keep in mind the house may need repairs. Purchasing homes from auctions is a gamble in the fact that you win some, and you will loose some. Hopefully, the economy will continue to recover, and buying will continue to be something that is possible for everyone!

I could not believe my eyes when I saw this article on Yahoo. According to the Associated Press, a Michigan home sold to a women for $1.75 on Ebay. There were 8 others that had a bid on this home, however this Chicago women won out with her under $2.00 bid. It appears there is some work to be done on the home and some back taxes, however no matter how you look at it, it is a GREAT deal.
The sad thing in all this is that someone lived in this home and unfortunately lost their home. The women that purchased the home has not even seen the home, and has no intentions on living there. With what is happening in today’s economy, this is bound to be happening more. At one point or another hopefully Ebay will be more known for it’s bid environment on products, not homes. Time shall tell.
Leadpile Lead Exchange is also a bid environment where we match the buyers and sellers of leads. Fortunately, we will not be matching up someone who lost their home to a buyer for $1.75.