The property we were pursuing at the public trustee auction, located in Tempe, AZ, went to a higher bidder. Opening bid on the property was $143,000. We felt comfortable purchasing this property up to $150,000, our highest bid. The home ultimately sold for $154,900.
For those not overly familiar with the process, this is par for the course. There's no need to get excited just to purchase a property. You get excited when you can pick one up at the auction for lower than your highest bid. If that happens, you've had a good day.
Finding homes at price points that make sense are few and far between after you factor in the competition. With that being said, there are properties available if you search EVERY SINGLE DAY! Be persistent.
On to the next prospect.
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