On the courthouse steps...

Some co-workers and I went on a bit of a field trip today.  We decided it was high time we learned about what actually happens when foreclosed homes are sold "on the courthouse steps".  Turns out that is pretty much it.  Realtors and investors stand around for a few minutes before the appointed time of auction.  In our case it was 11 am.  At the stroke of 11 a very efficient, though young-looking, woman walked to the front  of the group and announced the cancelled and postponed sales. 

Then the bidding started on a home on 9th Street.  The bidding went back and forth between a couple of gentlemen for a while, starting at $17,000 or so.  Then one man dropped out and a woman jumped into the bidding, ultimately winning at $25,500.

The next property came and went in a very different fashion.  Bidding opened at $100,000.  First bid took it at $288,000.  No moss growing on those stones!

If you'd like to hear more about the process here in Washoe County...comment on this blog or contact me at www.jerianne.rnohomes.com.  I'd love to help!