Jay Seville: Hi, I’m Jay Seville, owner of JustNewListings.com realty and this morning I’m on the way to the Courthouse for an auction in Fairfax, Virginia. I’m going to look around about six properties that are scheduled to be auctioned according to the information in RealtyTrac. Now, what I’m wanting to find out is how accurate or bogus the RealtyTrac information is, whether the whole auction scenario is a pie in the sky pipedream for regular buyers. I think that buyers are often misled or deceived by or whether the auction market is a viable opportunity for regular buyers, people who are looking to buy home and move in to it as their primary residence.

In other words, can you pull this off to a regular buyer or is the auction scenario something where you have to attend, you know, twenty of these auctions a month to have a chance at getting a property and why or why not if that’s the case. So, let me go check this out and I’ll let you know what I find. First thing I noticed was that the property at Great Falls auction of five or six bedrooms and the, of course, the school district listed for auction today at 9:30. I found it in the MLS, having been under contract about a month ago as a short sale, so that information was out of date and not accurate.

So, I’m pretty sure that the auction for it has been cancelled, its just that the information in RealtyTrac is bogus and old and is misleading consumers. I’ll know more about this shortly and I’ll check out all six properties in MLS and we’ll see if we can trust Realty Track as a source of information and whether the auction scenario really is viable for regular buyers or sort of a time sky and it’s just not realistic.