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IN A BUYER'S MARKET, SOMETIMES SEEING IS BELIEVING, REAL ESTATE AUCTIONS
BUYER TO AGENT:  Is this a good time to buy a home?  I've heard that there are some really good buys in foreclosures, auctions and short sales.
AGENT:  Could be.  But, foreclosures, auctions and short sales might not get the best home for your family in the location you need.  Think about what you really want to buy for the long term. 
BUYER:  O.K., but show me all of the foreclosures, auctions and short sales first.  I'm sure I'll find a good one.
AGENT:  How about this foreclosure?  It's priced about 5% lower than other homes in the neighborhoodd.
BUYER:  Are you kidding me?  There are no appliances.  The landscaping is dead.  I can see the high water mark in the basement.  Do you know how much money it would take to put this home in shape to live in?  What's going on here?
                                                                                                                                                                                AGENT:  We'll go to the auction for this one Tuesday. 
BUYER:  Are you kidding me?  The agent had the house listed for $492,000 but the auction started at $700,000.  You showed me the comps for $690,000.  The people are still living in the house.  What kind of "auction" is this?  What's going on here?              
AGENT:  How about this Short Sale?  It's the ... more

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