crazy market in San Diego

[Theresa K.]

Went to the San Diego County Probate auction today. There were 8 properties being auctioned and there must have been 500 people in attendance. The appraised values seemed low, but I didn't think THAT many people would show up.

The first property was a condo in Mission Valley (very central location.) Didn't need too much work, but smelled like cat pee really bad! Appraised at $113K. Opening bid was $101K. Property sold for $147K - which was just about retail lately.

Second property was a little 2/1 on a fairly big lot (for that area) in a not-so-great part of town. Needed foundation work for sure. Appraised at $90K. Opening bid was $81K. Sold for $208K. Was kind of surprised it went for that much.

We left after the first two properties. Will be interested to see the sale prices on the other properties. Prices are on the rise. How about you other So Cal people - are you seeing the same?