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Tuesday, May 11, 2010
Thursday, July 2, 2009
Auctions Attracting "SELLERS"
The real estate Auction industry is growing at a geometric rate. Ten years ago, there was virtually no real estate auction activity throughout the nation. Today, well over a billion dollars changes hands at auction each year. In many instances, the real estate auction (residential & commercial) is being used as a workout tool. Florida,Arizona,Nevada and California are just a few states that have seen accelerated interest in auctions. Why are developers, financial institutions and investors using the real estate auction as an alternative marketing tool? What type of properties lend themselves to be marketed at auction? Are auctions a cost effective workout tool?
Almost any type of real estate is suitable for auction. In fact, more and more owners of quality real estate are using the auction alternative to market their property. Properties being offered at recent auctions include condominiums on Alabama's Gulf Coast ranging in value from $250,000 to 550,000. Florida beachfront condominiums and townhomes ranging in value from $185,000 to 775,000 as well as net-leased office buildings, shopping centers, apartment buildings and vacant development ground.
The growing trend of institutional grade real estate professionals who use the auction to market their workout real estate also points to the acceptance of the auction as a marketing tool. The real estate auction no longer reflects poorly on the ownership of real estate. Rather, the message being transmitted to the real estate buying public today is "Quality property is being marketed in an unorthodox way for good reason.
Auctioneers forecast that by the end of 2009 multiple owner auctions will be scheduled in most major cities throughout the country.
Almost any type of real estate is suitable for auction. In fact, more and more owners of quality real estate are using the auction alternative to market their property. Properties being offered at recent auctions include condominiums on Alabama's Gulf Coast ranging in value from $250,000 to 550,000. Florida beachfront condominiums and townhomes ranging in value from $185,000 to 775,000 as well as net-leased office buildings, shopping centers, apartment buildings and vacant development ground.
The growing trend of institutional grade real estate professionals who use the auction to market their workout real estate also points to the acceptance of the auction as a marketing tool. The real estate auction no longer reflects poorly on the ownership of real estate. Rather, the message being transmitted to the real estate buying public today is "Quality property is being marketed in an unorthodox way for good reason.
Auctioneers forecast that by the end of 2009 multiple owner auctions will be scheduled in most major cities throughout the country.
Tuesday, June 16, 2009
Real Estate Markets
It seems every market in the U.S. has been impacted by the economy. The latest results from Florida auctions verified a huge discount on residential properties in the Tampa market. Florida in general has seen a decline in real estate values for at least two years or longer. Since the economic down turn Florida along with California,Michigan,Arizona and Nevada have led the nation in foreclosed properties with no end in site. Hopefully, these states will be the first to rebound but evidence from current auction results show this is wishful thinking. If anything, current auction trends show property values have stabilized at recent discount levels.
Here comes the commercial meltdown. Hold on to your hat!
Here comes the commercial meltdown. Hold on to your hat!
Sunday, June 7, 2009
Auctioneers Tips
Welcome to Auctioneers tips for the first time bidder. Very shortly you will be able to participate in a question and answer format to help explain how auctions are very easy to follow especially the ever popular real estate auction events.
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