Today's Master Commissioner Sale

The master commissioner's sale was held today at the McCracken County Courthouse. There were probably 50 people in attendance. Of the many properties I listed in a previous blog here are a few highlighted properties that were sold.

• 1415 Madison St, lot, appraised at $2,500. Sold for $1,700
  
• 1424 Little Avenue, lot, appraised at $5,000. Sold for $3,450
  
• 934-936 North 10th Street, appraised for $110,000. Sold for $73,500
  
• 2069 Irvin Cobb Drive, former bar or nightclub, appraised at $240,000. Sold for $200,000. This property was previously listed by a couple of in-town agents at a price between $650,000 to $775,000
  
• 1724 Monroe, house, appraised for $60,000. Sold for $40,001
  
• 1204 Park Avenue, house, appraised for $45,000. Sold for $34,000
  
• 250 Jennifer Lane, house, appraised for $240,000. Sold for $205,000
  
• 101 Sarah Cove, house, appraised for $68,000. Sold for $45,339
  
• 2865 Oaks Road, house, Appraised for $96,000. Sold for $109,100.

Many of today's foreclosures had private buyers bidding against the lenders that foreclosed on the properties. In one auction the bank actually lost the auction. I suspect the attorney that represented the lender was allowed to bid up to a certain amount. The winning bid was 1 cent higher than the banks max bid.

The appraised values were the values stated by the auctioneer.

One of the things I get a kick out of when I attend these auctions is how many of the attendees know each other. I myself knew several people there today. Like myself, several people were there taking notes and not participating.