Amazing! I worked at the REDC auction at the DC convention center this weekend. What an event. So many properties sold so quickly. It was so well organized, I was in awe. People that had done their homework in advance seemed to do well as purchasers. They had seen the properties, knew what they wanted to bid on and what their maximum bid would be. The ringmen really worked the crowd. (I my opinion, there is nothing like a good ringman to make an auction. These guys were energetic and funny and really paid attention. It was a pleasure to watch them work.). The buyers were all kinds of people, from out of state investors to nervous first-time homebuyers. They are the best. People forget that there is a good side to this housing crisis. People that couldn't afford to buy two years ago now can. And they will, I hope, get better loans and really be able to stay in and afford their homes. It is always special for me to work with first time homebuyers. I do believe in the American Dream of homeownership and it is a privilege for me to be a small part in the path to achieving that dream.
If you haven't been to an auction, I can highly recommend it.
