Well, I finally got around to analyzing the results of the 2012 tax deed auction. 515 properties were sold to about 186 buyers. This figure has some variability depending on how it is counted. In any case, the transaction details, i.e., who bought what and for how much, can be found at 2012 Tax Deed Auction Results.
Two aspects are striking. First, more than half of the sales (269 out of 515 properties) were sold at or below advertised minimum bid. Second, while it is unsurprising that many investors bought more than one property, just three entities accounted for 18% of the purchases. Both point to the Tax Deed Auction as a likely inefficient market – great for the investors, but not so good for the County.
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