real estate auctions: Spring Break - 04/30/09 12:20 PM
wow!  it's been too long since I have updated my blog... been busy... lots of great activity going on... 5 successful auctions in a row allows me to breathe a sigh of relief and gives a glimmer of hope that more buyers are out and there is money out there to be spent.
Turnout was excellent at all but one of the 5 auctions-- prices were low on most, but bearable to highly motivated sellers.  It's great to finally be bringing buyers and sellers in closer range and at least on the same page about value.
More later! There are signs … (0 comments)

real estate auctions: Northern Virginia Auction News - 04/11/09 05:49 PM
and from our Northern Virginia office -- more good news !
Our last 4 auctions have been great:
3/26 sold a bank owned luxury home in Northern VA for $2,073,500 Used our "hybrid" format, ended up just under reserve but bank confirmed sale during auction
3/31 sold a "handyman" in perfect Baltimore location for $808,500 SPCA was the seller and exceeded reserve
4/3 sold a foreclsoure residential lot in nowhere (Northern Neck) VA for $22,050 Bank was happy - never thought we would get that high a price
4/7 sold a foreclosure office condo on Northern VA for $483,000 Bank was … (0 comments)

real estate auctions: Richmond VA REO/Foreclosure Stats Vol 6 - 04/11/09 05:33 PM
Richmond's News headlines have been encouraging and local agents have been reporting upticks in offers, contracts and buyer traffic.  This is all great news.  I have heard of bidding wars and one broker I know got a full price offer the first day a property hit the market.  Priced right, yes-- but also proof of higher buyer confidence.
I got 2 houses under contract this week that had not met seller reserve at auctions last month.  So, April's volume is off to a good start of over $1.1 mil already with 3 more auctions on the schedule over the next 10 … (0 comments)

real estate auctions: Buyers Continue to Appear - 04/02/09 06:29 PM
We got two contracts today for properties that did not sell on auction day AND got an acceptable offer for a waterfront home in Virginia Beach that was due to hit the auction block this coming Tuesday!  The last property is over $1.5 million dollars, and one of the other two is close to half a mil so the jumbo buyers may be crawling out from their caves to pick up great real estate at turn of the century prices.
Yes, buyers are coming out but they are drawing a HARD LINE on their offers... they know they hold the upper hand.  Keep … (4 comments)

real estate auctions: Houses donated to Richmond SPCA ! - 04/01/09 08:18 PM
Our auction firm has now sold two homes that were left to the Richmond SPCA... one was in Chesterfield County and sold at public auction in 2008 to a full audience for a big price.  The most recent one sold yesterday afternoon in Baltimore. 
The auction was featured on a local newsclip and was an exciting event that exceeded expectations! The high bid was $735,000, making a final contract price, after the buyers premium, of over $808,000.
http://www.youtube.com/watch?v=deNYgoWxgZc
Robin Starr, head of the Richmond SPCA expressed her gratitude to the donor and her satisfaction with the auction results.  YAY for our furry friends.
… (0 comments)

real estate auctions: Auctions and other Trends Virginia - 03/23/09 05:53 PM
Well I have made many observations since my last blog and have been blogging in my head for days but just now getting the chance to put the fingers on the keyboard....
observations in / around Richmond VA
Henrico Co, Verizon, Fort Lee and others have all announced they are hiring Foreclosure notices have dwindled this week-- they were filling 2 1/2 newspaper pages and have been one page, or a page and a half all week-- don't know if a second wave is coming but the current decline is encouraging News has been full of residential developments getting approved-- in Richmond, … (0 comments)

real estate auctions: Auctions- Farmland in Virginia - 02/24/09 02:57 PM
With spring around the corner, what better time to sell rolling hills, wooded valleys, streams and board fencing?  Yes, Tranzon Fox in Richmond is going country!  All of a sudden we have farms on the auction calendar-- and other raw land.  Some of it will be selling without reserve.
I have noticed in the Property Transfers that developers seem to be buying land again and that should signal the first blushes of the end of the development downturn.  We will be auctioning off 180 acres in Cumberland VA and probably 50 acres in Louisa VA-- maybe some commercailly zoned acreage in … (0 comments)

real estate auctions: What is raw land doing these days? - 02/22/09 06:56 PM
Friday afternoon I looked at a lovely farm about an hour outside Richmond VA.  It's 180 acres, with about 60 acres cleared and planted in high quality, disease resistant fescue.  Bordered on two sides by small rivers.  The sellers are most anxious to sell and are talking with me about auctioning off the farm.  There are so few raw land transfers in this county that it's anybody's guess what will happen in this market.
The sellers can, of course, place a minimum reserve price.  I hope there are some buyers out there for this!  If anyone has sold any large chunks … (0 comments)

real estate auctions: NC has Commercial Buyers! Yesterday's Auction a Success! - 02/13/09 07:59 AM
Mild temperatures and hot bidding ruled the day in North Carolina's furniture capital of High Point.  We offered a 71,000 sq ft retail furniture showroom with a 2008 NOI of $197,500 (many areas dark for at least part of the year).
The bidding began by private written bid, with buyers and their brokers meeting one by one to submit their initial bids accompanied by a $150,000 deposit.   About 6 bidders participated and there was a wide range in offers.  There was enough interest (including a phone bidder) to proceed to a live bid, starting at the highest written number of $1,050,000 --  two bidders … (0 comments)

real estate auctions: BUYERS showed up to BID despite the ice & snow !! - 01/28/09 03:41 PM
Well.... I was up at 4:30 a.m. to watch the weather forecast... winter storm warning... sleet/snowy mix forecast beginning at 8 a.m. and my first auction of the day due to start out in the country at 10 a.m. !  Fortunately it wasn't enough to scare off the serious bidders and we had 8 show up to compete for the right to own a 3 bedroom ranch on an acre with detached 2 car garage and swimming pool.  There were at least 3 end users in the group but an investor who came over to watch the auction and talk with me … (0 comments)

real estate auctions: YooHooooo BUYERS ! Come out, come out, wherever you are ! Olly Olly Oxen Free! - 01/24/09 08:03 AM
Interest has been good so far for Tuesday's auctions around Richmond VA -- first real estate auctions of the year around here and I am full of HOPE!   Interest is good and we have a family moving here from Maine who plan to bid on one house... an agent has pre-registered a buyer for another property... all good early indications.
Over the years I have always wanted to see at least 10 people download the Property Information Package but these days, with buyers hiding under rocks... I am satisfied with 6 or 8.  Anyhow, Tuesday's properties have had up to 30 inquirers … (1 comments)

 

Linda Staples Terry

Richmond, VA

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Tranzon Fox Auctions

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