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Will The Feds Make the Lenders Whole?
10 November 08 02:16 PM | realestateauctions | with no comments
Recently, I received a few calls from some real estate investor friends of mine here in North Carolina venting their frustration with working out short sales with some lenders. It seems some lenders are stalling in making any decisions as to whether they...
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Should Realtors Become Auctioneers?
11 September 08 12:33 PM | realestateauctions | 45 comment(s)
I received an interesting phone call from a realtor in California. She had read some articles I had written about using an auction as a first choice method of selling a home, rather than as a last option. Her question to me was this, “Should I become...
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IS THERE A REAL ESTATE TURN AROUND IN THE MAKING?
25 July 08 10:26 AM | realestateauctions | with no comments
In an effort to turn around the depressing attitude of many realtors across the country because of the market we are in, some local North Carolina real estate publications are trying to put a positive spin on the market by stating that 2009 will be good...
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Who Pays the Marketing Fee for a Real Estate Auction?
11 June 08 08:03 PM | realestateauctions | with no comments
The simple answer to the question is the seller pays the marketing fee but it can be paid in various ways. In today’s upside down real estate market where the seller normally needs to sell quickly, the auctioneer will find that many homeowners are...
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What If My House Doesn’t Sell at Auction?
25 May 08 08:01 PM | realestateauctions | with no comments
There are basically two type of real estate auction. An “absolute” auction is where the property is sold to the highest qualified bidder with no limiting conditions or amount. The seller may not bid personally or through an agent. Also known...
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A Real Estate Auction Should Not Be A Last Resort Method
16 May 08 06:32 PM | realestateauctions | with no comments
Someone recently asked me if an auction should be the last resort to sell their home. She and her husband lived in a nice neighborhood where the homes and yards were kept in pristine condition. They thought their home would sell pretty fast. They had...
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Do I need an Auctioneer?
12 May 08 05:42 PM | realestateauctions | with no comments
Do I need an Auctioneer? I own my home and have been thinking about selling it and moving to another state. I have talked with several realtors and just can’t get excited about listing my home with them, especially in today’s real estate market. I need...
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Using Credit Cards at an Auction
10 May 08 08:50 AM | realestateauctions | with no comments
Ron, I recently attended an auction in another state while on vacation. There were some nice pieces of furniture that were being auctioned. The auctioneer stated before the auction that they would accept credit cards for payment but they would charge...
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AUCTION VALUE vs. MARKET VALUE
07 May 08 08:35 PM | realestateauctions | with no comments
How does auction value differ from market value? The differences between auction value and market value stems from the auction process itself. By this, I refer to several characteristics which are more dominant in the auction process than in the ”list...
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What is an “owner confirmation” auction?
06 May 08 10:14 AM | realestateauctions | with no comments
I recently attended a real estate auction whereas the auctioneer stated that the winning bid would be “subject to the owner’s confirmation.” Was this really a “reserve” auction? There is really no difference between selling real estate at an auction with...
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What is a Buyer's Premium?
04 May 08 05:23 PM | realestateauctions | with no comments
The use of a buyer’s premium is a way of paying the Auctioneer for his or her services. The buyer’s premium shifts the payment of the Auctioneer’s commission from the seller to the buyer at auction. The buyer’s premium is a fixed percentage of the sales...
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When is an Auction not an Auction?
03 May 08 09:55 AM | realestateauctions | with no comments
Over the past six months or so, I have noticed an increase in the ads in the paper about auctioning homes. Here in the state of North Carolina, you must list your auctioneer license number in the advertisements and the property owner along with the terms...
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Selling Before the Foreclosure Auction Date
30 April 08 04:40 PM | realestateauctions | with no comments
A local realtor recently called me about a home she just visited. The bank is foreclosing on this property in about 45 days. The courthouse auction date had already been set. She wanted to know if she sold the property prior to the foreclosure date, would...
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Auction Fun Facts
29 April 08 07:55 PM | realestateauctions | with no comments
I thought some of you might be interested in these facts concerning auctions: A. Revenues in the live auction industry grew by 5.3% in 2007 over 2006, continuing a growth trend of recent years. B. An “auction preview” is an open house when the public...
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