“Going once! Going twice! … SOLD!” And that’s just what happened to 52 properties last night on the 23rd floor of the Wells Fargo Tower. A thunderous round of applause and cheers sounded after the gavel fell on the first property. And for good reason, many who came hoping to get a “steal” were excited to see the first property sell for a mere 55% of it’s estimated value. That’s right, the $950,000 custom rambler sold for only $520,000! This set the stage to be a bargain-filled evening for many.
Below are the bid results for each property.
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Address: 12324 N. Timberline Drive Highland, UT 84003 Square Footage: 5190 Lot Size: .38 acres Bedroom(s): 8 Bathroom(s): 4 Est. Value: $950,000 Opening Bid: $50,000 High Bid: $520,000 |
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Address: 2361 East 425 North Layton, UT 84040 Square Footage: 5614 Lot Size: .79 acres Bedroom(s): 6 Bathroom(s): 4 Est. Value: $870,000 Opening Bid: $50,000 High Bid: $375,000 |
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Address:6037 W. CHAMBERRY WAY Highland, UT 84003 Square Footage: 5093 Lot Size: .39 acres Bedroom(s): 5 Bathroom(s): 4 Est. Value: $978,000 Opening Bid: $50,000 High Bid: $310,000 |
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Address: 7626 N. RANCHES PKWY Eagle Mountain, UT 84005 Square Footage: 4172 Lot Size: .25 acres Bedroom(s): 5 Bathroom(s): 3 Est. Value: $420,000 Opening Bid: $50,000 High Bid: $250,000 |
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Address: 7059 CHEROKEE Eagle Mountain, UT 84005 Square Footage: 2871 Lot Size: .12 acres Bedroom(s): 3 Bathroom(s): 3 Est. Value: $330,000 Opening Bid: $50,000 High Bid: $175,000 |
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Address: 7296 N. POINT LOOKOUT RD Eagle Mountain, UT 84005 Square Footage: 4,215 Lot Size: .31 acres Bedroom(s): 5 Bathroom(s): 3 Est. Value: $432,000 Opening Bid: $50,000 High Bid: $260,000 |
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Address:1742 W. RIVER VIEW DR. Bluffdale, UT 84065 Square Footage: 4996 Lot Size: .27 acres Bedroom(s): 3 Bathroom(s): 2 Est. Value: $726,000 Opening Bid: $50,000 High Bid: $275,000 |
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Address: 678 E. 680 N. Lindon, UT 84042 Square Footage: 3600 Lot Size: .32 acres Bedroom(s): 3 Bathroom(s): 2 Est. Value: $630,000 Opening Bid: $50,000 High Bid: $320,000 |
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Address:292 BROADLEAF CR. Draper, UT 84020 Square Footage: 4519 Lot Size: .22 acres Bedroom(s): 4 Bathroom(s): 4 Est. Value: $350,000 Opening Bid: $50,000 High Bid: $260,000 |
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Address: 4015 S. 5500 W. Hooper, UT 84315 Square Footage: 1400 Lot Size: .85 acres Bedroom(s): 3 Bathroom(s): 2 Est. Value: $228,000 Opening Bid: $50,000 High Bid: $155,000 |
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Address: 3505 S. HIDDEN MEADOW CIR Mountain Green, UT 84050 Square Footage: 4816 Lot Size: .32 acres Bedroom(s): 3 Bathroom(s): 3 Est. Value: $360,000 Opening Bid: $50,000 High Bid: $205,000 |
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Address:1301 S. SARATOGA CT Kaysville, UT 84037 Square Footage: 5353 Lot Size: .5 acres Bedroom(s): 3 Bathroom(s): 3 Est. Value: $420,000 Opening Bid: $50,000 High Bid: $215,000 |
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Address:462 W. SPUR CT Kaysville, UT 84037 Square Footage: 5345 Lot Size: .5 acres Bedroom(s): 3 Bathroom(s): 3 Est. Value: $390,000 Opening Bid: $50,000 High Bid: $180,000 |
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Address:526 W. Western Drive Kaysville, UT 84037 Square Footage: 5742 Lot Size: .5 acres Bedroom(s): 3 Bathroom(s): 2 Est. Value: $420,000 Opening Bid: $50,000 High Bid: $265,000 |
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Address:1276 S. Derby Court Kaysville, UT 84037 Square Footage: 5665 Lot Size: .5 acres Bedroom(s): 3 Bathroom(s): 3 Est. Value: $450,000 Opening Bid: $50,000 High Bid: $290,000 |
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Address: 98 N. 600 E. American Fork, UT 84003 Square Footage: 925 Lot Size: .18 acres Bedroom(s): 2 Bathroom(s): 1 Est. Value: $175,000 Opening Bid: $50,000 High Bid: $105,000 |
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Address: 575 N. Seven Peaks Blvd. #29 Provo, UT 84606 Square Footage: 2200 Lot Size: .01 acres Bedroom(s): 3 Bathroom(s): 4 Est. Value: $270,000 Opening Bid: $50,000 High Bid: $200,000 |
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Address:3041 W. DURHAM WOODS RIverton, UT 84065 Square Footage: 4919 Lot Size: .24 acres Bedroom(s): 3 Bathroom(s): 4 Est. Value: $606,000 Opening Bid: $50,000 High Bid: $330,000 |
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Address:12317 S. ROSEBRIAR LN RIverton, UT 84065 Square Footage: 4884 Lot Size: 2007 Bedroom(s): 3 Bathroom(s): 3 Est. Value: $607,200 Opening Bid: $50,000 High Bid: $325,000 |
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Address: 1220 N. Springer View Drive Midway, UT 84049 Square Footage: 6167 Lot Size: 1.5 acres Bedroom(s): 5 Bathroom(s): 5 Est. Value: $2,600,000 Opening Bid: $50,000 High Bid: $750,000 |
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Address: 1077 E. Watkins Ln. Alpine, UT 84004 Square Footage: 5746 Lot Size: .51 acres Bedroom(s): 3 Bathroom(s): 3 Est. Value: $750,000 Opening Bid: $50,000 High Bid: $410,000 |
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Address:1126 W. Kings Ct Kaysville, UT 84037 Square Footage: 5426 Lot Size: .54 acres Bedroom(s): 3 Bathroom(s): 3 Est. Value: $639,000 Opening Bid: $50,000 High Bid: $360,000 |
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Address: 3248 W. Chateau View Circle South Jordan, UT Square Footage: 5768 Lot Size: .27 acres Bedroom(s): 4 Bathroom(s): 3 Est. Value: $799,000 Opening Bid: $50,000 High Bid: $430,000 |
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Address:525 N. 2375 W. LEHI, UT 84043 Square Footage: Lot Size: 0.32 Acre Bedroom(s): Bathroom(s): Est. Value: $189,120.00 Opening Bid: $50,000 High Bid: $81,000 |
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Address:549 N. 2375 W. LEHI, UT 84043 Square Footage: Lot Size: 0.30 Acre Bedroom(s): Bathroom(s): Est. Value: $189,120.00 Opening Bid: $50,000 High Bid: $81,000 |
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Address:2381 W. 610 N. LEHI, UT 84043 Square Footage: Lot Size: 0.31 Acre Bedroom(s): Bathroom(s): Est. Value: $189,120.00 Opening Bid: $50,000 High Bid: $81,000 |
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Address:2441 W. 610 N. LEHI, UT 84043 Square Footage: Lot Size: 0.29 Acre Bedroom(s): Bathroom(s): Est. Value: $204,720.00 Opening Bid: $50,000 High Bid: $81,000 |
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Address:376 N. WILLOW HAVEN AVE. LEHI, UT 84043 Square Footage: Lot Size: 0.31 Acre Bedroom(s): Bathroom(s): Est. Value: $204,000.00 Opening Bid: $50,000 High Bid: $81,000 |
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Address:421 N. Willow Haven Ave. Lehi, UT 84043 Square Footage: Lot Size: .34 acres Bedroom(s): Bathroom(s): Est. Value: $204,000 Opening Bid: $25,000 High Bid: removed from auction |
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Address:445 N. WILLOW HAVEN AVE LEHI, UT 84043 Square Footage: Lot Size: 0.37 Acre Bedroom(s): Bathroom(s): Est. Value: $210,000.00 Opening Bid: $50,000.00 |
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Address:469 N. WILLOW HAVEN AVE LEHI, UT 84043 Square Footage: Lot Size: Bedroom(s): Bathroom(s): Est. Value: $210,000.00 Opening Bid: $50,000 High Bid: $87,000 |
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Address:2388 W. 610 N. LEHI, UT 84043 Square Footage: Lot Size: 0.49 Acre Bedroom(s): Bathroom(s): Est. Value: $218,400.00 Opening Bid: $50,000 High Bid: $87,000 |
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Address:4024 S. 4900 W. Westhaven, UT 84401 Square Footage: Lot Size: .52 acres Bedroom(s): Bathroom(s): Est. Value: $117,000 Opening Bid: $25,000 High Bid: $62,000 |
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Address: 7419 S. 950 W. Willard , UT 84340 Square Footage: Lot Size: .57 acres Bedroom(s): Bathroom(s): Est. Value: $111,800 Opening Bid: $25,000 High Bid: $52,000 |
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Address: 7447 S. 950 W. Willard , UT 84340 Square Footage: Lot Size: .58 acres Bedroom(s): Bathroom(s): Est. Value: $111,800 Opening Bid: $25,000 High Bid: $54,000 |
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Address:272 N. 1100 W. MAPLETON, UT 84664 Square Footage: Lot Size: 1.01 Acres Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $117,000 |
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Address:322 N. 1100 W. MAPLETON, UT 84664 Square Footage: Lot Size: 1.00 Acre Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $118,000 |
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Address:352 N. 1100 W. MAPLETON, UT 84664 Square Footage: Lot Size: 1.00 Acre Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $117,000 |
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Address:386 N. 1100 W. MAPLETON, UT 84664 Square Footage: Lot Size: 1.00 Acre Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $144,000 |
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Address:972 W. 400 N. MAPLETON, UT 84664 Square Footage: Lot Size: 1.00 Acre Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $136,000 |
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Address:922 W. 400 N. MAPLETON, UT 84664 Square Footage: Lot Size: 1.00 Acre Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $146,000 |
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Address:434 N. 1040 W. MAPLETON, UT 84664 Square Footage: Lot Size: 1.03 Acres Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $158,000 |
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Address:478 N. 1040 W. MAPLETON, UT 84664 Square Footage: Lot Size: 1.03 Acres Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $126,000 |
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Address:532 N. 1040 W. MAPLETON, UT 84664 Square Footage: Lot Size: 1.04 Acres Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $136,000 |
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Address:582 N. 1040 W. MAPLETON, UT 84664 Square Footage: Lot Size: 1.05 Acres Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $117,000 |
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Address:581 N. 1040 W. MAPLETON, UT 84664 Square Footage: Lot Size: 1.04 Acres Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $117,000 |
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Address:531 N. 1040 W. MAPLETON, UT 84664 Square Footage: Lot Size: 1.03 Acres Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $117,000 |
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Address:477 N. 1040 W. MAPLETON, UT 84664 Square Footage: Lot Size: 1.03 Acres Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $120,000 |
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Address:433 N. 1040 W. MAPLETON, UT 84664 Square Footage: Lot Size: 1.03 Acres Bedroom(s): Bathroom(s): Est. Value: $350,000.00 Opening Bid: $25,000 High Bid: $117,000 |
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Address:Approx. 800 W. MAPLE ST. MAPLETON, UT 84664 Square Footage: Lot Size: 11.14 Acres Bedroom(s): Bathroom(s): Est. Value: $1,500,000 Opening Bid: $50,000 High Bid: $565,000 |
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Address: 162 W. POINT OF VIEW CIR Bountiful, UT 84010 Square Footage: Lot Size: .35 acres Bedroom(s): Bathroom(s): Est. Value: $302,400 Opening Bid: $25,000 High Bid: $106,000 |
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Address: 621 N. GROVE DR. Alpine, UT 84004 Square Footage: Lot Size: .32 acres Bedroom(s): Bathroom(s): Est. Value: $408,000 Opening Bid: $25,000 High Bid: $162,000 |
My hat off to Eric Nelson and his auction team, they did a great job orchestrating the event. Now it’s up to the bank. Each high bid is subject to confirmation by the seller. This means that the seller still has a say of whether or not they will accept the high bids. In my opinion, their decisions will reflect strongly on the public’s view of future real estate auctions. If they reject a majority of the high bids, it’s likely that people will see future bank foreclosure auctions as glorified eBay listings with unrealistic reserve prices.
On the other hand, if the bank finds a majority of the high bids acceptable, it will set a precedent in the industry. Undoubtedly, many banks are keeping a close eye on how this all fairs. For if presumed successful, others will soon follow suit.
