You'd love it lower, but if you can buy it under $1.4m and do the work efficiently, you might move in by mid-2013 and not be underwater.
And in the video, you'll catch Dave underscoring that theme, calling the final auction number: "pretty much the right price here."
At the moment the auction closed, you can overhear someone else saying they thought it would have gone for more. But we don't think he had a yellow bidder's card.
The auction now moves into a 60-day court-approval process. At the final stage, anyone can come in and bid 5% + $500 more and overbid the auction winner. In this case, to beat the auction winner, they'd need to offer $1,386,500. That number feels wrong now. But there's time for it to all play out.