January 16, 2009 Sheriff Auction Sales

28 properties were scheduled for last Friday's foreclosure auction, 3 were sold out of the 10 that were put on auction. Two were sold below the awarded foreclosure judgment.

67 Willow Ave, Hackensack, NJ - had a winning bid of $235,00 from John Gloria. The house was last sold in 2006 for $455,000. The winning bid was 39% less than the foreclosure judgment of $384,445.57 and over 50% below the 2006 bubble price. It looks like the home was picked up by an investor in 2005 for $285,000 and flipped a a few months later for 60% more than paid for it.

68 Cresskill Ave, Dumont, NJ - had a winning bid of $260,000, also from John Gloria. The house was last sold in 2005 for $364,500. The winning bid was 19% below the foreclosure judgement of $320,037.94 and about 29% below the bubble price.

549 Howard St, Washington Twp, NJ - took a while to get to auction. The foreclosure judgment on the property was awarded almost a full year ago. The winning bid of $355,00 by East Coast Acquisitions, LLC was 53% above the foreclosure judgment of $231,752.59 awarded to US Bank NA in January 2008. This house was last purchased before the bubble for a price of $284,900 back in November 1993.