Illinois Iowa Kansas and Missouri Land Auctions by Whitetail Properties

Illinois Land Auction - White County 180 Acres July 11, 2009

Mon, 06 Jul 2009 23:35:42 -0500

Don't miss this opportunity in southern Illinois to own a piece of prime whitetail habitat! A proven trophy property with great deer and excellent income. Look at the possibilities on this one.

Southern Illinois Land Auction White County Illinois 180 Acres m/l

Saturday, July 11th, 2009 at 10:00 AM CDT
VFW Building - 406 E. Main Street, Carmi, IL 62861

180.5 Acres M/L in White County, IL

Southern Illionis Land Auction Click for DETAILS

This auction is brought to you by

Jason Smith
Auctioneer, Land Specialist

Mobile:

1 (712) 592-8965

Office:

1 (217) 285-9000

3 Easy Ways To Participate
There are many ways to participate in this auction and there is still plenty of time left.

Attend the live auction at the VFW building in Carmi Illinois
Bid live online at the same time the auction is occurring. Go to www.NaaLive.com and register for the auction at least 48 hours ahead of time
You can place absentee bids prior to the auction by calling Jason Smith at (712)-592-8965

PRE-REGISTER:
If you wish to pre-register for the auction so your number is waiting for you, call Jason Smith (712)-592-8965.

PROPERTY PREVIEW TOUR:
To preview the property or get additional information contact Mark Doerner at (270)724-0210.

Saturday, July 25th, 2009

190 Acres M/L
Monroe County, IA

Saturday, July 18th, 2009

33.7 Acres M/L
Harrison County, IA

Saturday, August 1st, 2009

271 Acres M/L
Appanoose County, IA

Southern Iowa Land Auction Selling ABSOLUTE - No Reserve Monroe County Iowa 190 Acres

Mon, 06 Jul 2009 23:09:23 -0500

This 190 acres is situated in prime southern Iowa deer country near Albia Iowa. This really is one of those hard to find farms with excellent hunting and a home with all utilities. Lots of big oak ridges transition down into winding creek bottoms creating ideal habitat for turkey and deer.

This farm will be selling absolute, regardless of price or bids, there is no reserve.

Saturday, July 25th, 2009 at 10:00 AM CDT
100 Highway 34, Albia, IA 52531

Southern Iowa Land Auction Click for details on this sale.

This auction is brought to you by

Jason Smith
Auctioneer, Land Specialist

Mobile:

1 (712) 592-8965

Office:

1 (217) 285-9000

Saturday, July 11th, 2009

180.5 Acres M/L
White County, IL

Saturday, July 18th, 2009

33.7 Acres M/L
Harrison County, IA

Saturday, August 1st, 2009

271 Acres M/L
Appanoose County, IA

Pike County Illinois Land Auction 60 Acres of PRIME Hunting Land

Tue, 16 Jun 2009 16:36:26 -0500

This property will be offered for sale at live public auction. This is a RARE opportunity. Nestled in the core of Trophy Buck country in Western Illinois golden triangle. 7 Acres of food plots or tillable income. On the same road as the famous Heartland Lodge and Rodhouse Rut N Strut trophy only area.

Call Dan Perez at 1 (217) 285-9000 for a tour and to preview this property prior to the auction.

Online bidding will also be available through NAALive Auctions - click Here to sign up to bid.

Saturday, June 27th, 2009 at 10:00 AM CDT
1301 E. Washington, Pittsfield, IL 62363

This auction is brought to you by

Jason Smith
Auctioneer, Land Specialist

Mobile:

1 (712) 592-8965

Office:

1 (217) 285-9000

More information ---> Illinois Land Auction Pike County 60 Acres m/l <--- More information

Pike County, Illinois - 60 Acres more/less

60 acres more or less (8 acres tillable, balance in timber, brush, creek) Entity Owned; Broker/Owner Interest
Located 10 miles S of Pittsfield, Illinois; 1 ½ hours W of Springfield, Illinois; 1 ½ hours N of St. Louis area; 4 hours SW of Chicago, Illinois
2 established food plots (7 acre ridge-top food plot)
Good interior access from logging road
Wide, flat rock-bottom creek snakes around northern border of property
Fabulous big buck opportunities
Several great stand locations on natural pinch points and funnels
Surrounded by hundreds of acres of big buck producing habitat
Large timbered tracts on three sides of property

Comments:
This is a rare opportunity to own this size parcel in this area. Pike County Illinois is world famous and well know for its ability to produce monsterous whitetail deer. If you've considered owning property in Pike County this will be a once in a lifetime opportunity to find a piece of this caliber. Nestled in the core of Trophy Buck country in the golden triangle the tillable acreage is currently being use as food plots but could also be used for tillable or rental income. A variety of terrain changes make this property very unique and the perfect place to get away. It is located just down the road from famous Heartland Lodge and the monster buck producing Rodhouse Rut N Strut trophy only area. This property is a big buck management dream come true. With so many like minded land owners in the same area you're going to have some great memories over that food plot.

Visit our land auctions website for more details or infomration on other properties that are available.

Illinois Land Auction White County 160 Acres m/l Farmland and Hunting Land

Tue, 16 Jun 2009 16:27:10 -0500

Don't miss this opportunity in southern Illinois to own a piece of prime whitetail habitat! A proven trophy property with great deer and excellent income. Look at the possibilities on this one.

Live On-Site Auction with Online Bidding - click here to signup to bid.

Saturday, July 11th, 2009 at 10:00 AM CDT
506 E. Main Street, Carmi, IL 62861

This auction is brought to you by

Jason Smith
Auctioneer, Land Specialist

Mobile:

1 (712) 592-8965

Office:

1 (217) 285-9000

More Information ---> Illinois Land Auction White County 160 Acres m/l <--- More Information

White County, Illinois - 180.5 Acres more/less

So many options here! This farm will be offered in separate tracts and as a full farm at the sale.

Farm it and lease the hunting rights for additional income or buy it as your own hunting property and benefit from the tillable income. Southern Illinois is home to some of the best trophy whitetail hunting in the entire country. This tract is one of a kind. Four years ago, a 193 inch buck was taken off this property. This is a HIGH QUALITY farm with great recreational opportunity. Thick timber, water, excellent tillable and multiple plot options come together to create the perfect whitetail paradise. This place is loaded with shredded trees and worn deer trails to match. Look closely at this one. It's a great opportunity to own a piece of the dream.

45 minutes from Evansville, Indiana
2 hours from Saint Louis, Missouri
4 hours from Chicago, Illinois
3 1/2 hours from Nashville, Tennessee
7 hours from Atlanta, Georgia
CRP income ($1,728 per year); filter strips along crop field edges in prairie grasses.
Tillable ground income ($5,600 per year)
Paved road frontage on east side with county water available.
Excellent wooded and field building sites for that cabin or home you've always wanted.
Land owner has created a 60-acre sanctuary area that is loaded with cover, water and everything a deer needs to stay out of sight of humans.
Two small ponds for year around water source on property with a third pond on bordering land.
There was a 193" buck harvested in 2005 off this tract.
Owner is a trophy hunter and said he could have easily taken a 140" to 150" buck each season, but was only interested in taken 170"+ deer.
This property is high ground with absolutely no chance of flooding, which I know from experience as an owner of 400 acres in White County, is a big bonus.
If you are a turkey hunter as well, you'll love this property. Bordering property to the west has a large hayfield; perfect for nesting birds in the spring time.

Whitetail Trophy Properties Land Specialist Mark Doerner has been an outfitter and land owner in White County, Illinois for 8 years. Mark knows where the giant deer are year-in and year-out. He describes this property as "one of those magic spots". This property has everything it takes to grow and hold big whitetail; cover, water, food, genetics and great like-minded neighbors. Mark spent two full days exploring this tract and was impressed with the big buck sign. He was able to watch a 170"+ buck feeding in soybeans along with other big bucks. The trail camera and harvest photos tell the story on this property.

Visit our land auctions website for more information on this parcel or other that are available.

Iowa Land Auction - 33.7 Acres m/l Harrison County near Omaha Nebraska

Sat, 06 Jun 2009 14:33:18 -0500

Click here for more details

Iowa Land Auction - Harrison County 33 Acres m/l

LIVE PUBLIC AUCTION - SATURDAY JULY 18TH; 1939 HILLSIDE AVE. MONDAMIN, IA 51557

33 acres more or less (14 acres tillable, 14 acres timber, pond, and creek)
Property is located near Mondamin, IA; 28 miles Blair, NE; 40 miles from Omaha, NE; and 60 miles from Sioux City, IA
CRP just came out of program this year and could be tilled or planted to food plots
Abundant deer and turkey sign all over this property and in an area of superior deer hunting.
Exceptional building location, great view of the Loess Hills and close to Interstate 29 for easy access to Omaha
Pond and creek located on the property
Well maintained rock road with short drive to paved road
The interior of the timber is very thick, cedar choked hillside that provides excellent bedding and cover

AUCTIONEER: Jason Smith, Whitetail Properties Cell 712-592-8965

To find other Iowa Land Auctions visit us at www.WhitetailPropertisAuction.com

Comments:
AUCTION!!! SATURDAY JULY 18TH 2009, to be held at the City Park in Mondamin Iowa!! This small tract will be offered at live public auction July 18th and has it all to offer. This would make someone a great little hunting spot or an exceptional building site where you can enjoy the beauty of the Loess Hills and the rural country lifestyle. Build on the east side of the road and hunt on the west....it lays out perfect for it. Tillable acres for income or food plots, thick wooley timber for bedding cover, pond, and a stream. If you don't think you could fit that much into 33 acres take a look at the photos. It is not often you find a piece of land with this potential and all the amenities at auction. The tillable acres are approximately 14 and the timber is 14 acres as well. You can find information on www.whitetailpropertiesauction.com or click the AUCTIONS tab on the menu above.

Illinois Land Auction - Pike County Illinois 60 Acres m/l

Sun, 31 May 2009 13:23:38 -0500

Illinois Land Auction

Pike County Illinois 60 Acres m/l

For more information visit our Illinois Land Auctions page

AUCTION TO BE HELD JUNE 27TH 2009 AT 10 AM CST AT THE PIKE COUNTY FARM BUREAU BUILDING LOCATED AT 1301 E WASHINGTON ST, PITTSFIELD, IL 62363. CLICK ON THE AUCTION TAB ABOVE FOR MORE DETAILS

60 acres more or less ( 8 acres tillable, balance in timber, brush, creek) Entity Owned; Broker/Owner Interest
Located 10 miles S of Pittsfield, Illinois; 1 ½ hours W of Springfield, Illinois; 1 ½ hours N of St. Louis area; 4 hours SW of Chicago, Illinois
2 established food plots ( 7 acre ridge-top food plot)
Good interior access from logging road
Wide, flat rock-bottom creek snakes around northern border of property
Fabulous big buck opportunities
Several great stand locations on natural pinch points and funnels
Surrounded by hundreds of acres of big buck producing habitat
Large timbered tracts on three sides of property

Comments:
AUCTION!! JUNE 27TH 2009, 10 AM CST. AUCTION TO BE HELD AT PIKE COUNTY FARM BUREAU BUILDING 1031 E WASHINGTON ST PITTSFIELD, IL 62363.

Call Illinois Auctioneer Jason Smith for more details at 712-592-8965 or Broker/Agent Dan Perez at 217-285-9000.

ONE OF A KIND! This is a rare opportunity to buy in this area. Nestled in the core of Trophy Buck country in the golden triangle. Tillable acreage is currently being use as food plots but could also be used for tillable income. A variety of terrain changes make this property very unique. Just down the road from famous Heartland Lodge and the monster buck producing Rodhouse Rut N Strut trophy only area. This property is a big buck management dream come true.

Illinois LAND AUCTION - White County Illinois 180.5 Acres m/l

Sun, 31 May 2009 11:47:20 -0500

For details visit our website Illinois Land Auctions
AUCTION!! SATURDAY JULY 11TH 2009 10 AM CST CLICK ON THE AUCTION TAB ABOVE FOR MORE DETAILS
180.5 acres more or less (74 acres tillable, 16 acres CRP, balance in timber, brush, and 2 small ponds)
Property is located 45 minutes from Evansville, IN; 2 hours from St. Louis area; 4 hours from Chicago, IL; 3 1/2 hours from Nashville, TN; and 7 hours from Atlanta, GA
CRP made up of filter strips along tillable field edges in prairie grass; income $1728/year
Tillable income from 74 acres of $5600/year
Paved road frontage on east side with county water available.
Excellent wooded or open building sites for that cabin or home of your dreams.
Land owner has created a 60 acre sanctuary area that is loaded with cover, water, and everything a deer needs to stay out of sight of humans.
Two small ponds for year round water source, with a third on a neighboring landowner.
In 2005 a 193" buck was harvested off this property.
Landowner is a trophy hunter and has passed numerous 140 and 150 class bucks each year, looking to harvest deer in the 170 class or bigger
This property is high ground with absolutely no chance of flooding, and from personally owning 400 acres in White County is a big bonus.
Turkey hunters will love this property as well with large hayfields on the bordering property ideal for nesting birds in the spring.

***VISIT OUR WEBSITE ILLINOIS LAND AUCTION WHITE COUNTY ILLINOIS 180.5 Acres m/l ***

Comments:
Whitetail Trophy Properties Land Specialist Mark Doerner has been an outfitter & land owner in White County Illinois for 8 years. Mark knows where the giant deer are taken year in and year out and he describes this property as "one of those magic spots" This property has everything it takes to grow and hold big whitetail. Cover, water, food, genetics and great like minded neighbors. Mark spent two full days exploring this tract and was impressed with the big buck sign. He was able to watch a 170"+ buck feeding in soybeans along with other big bucks. The trail camera and harvest photos tell the entire story on this property.

Iowa Deer Classic Auction 2009

Tue, 03 Mar 2009 13:57:38 -0600

Iowa Deer Classic Auction

New in 2009 the Iowa Deer Classic Auction. This will be the ULTIMATE sportsman's auction so don't miss your chance to bid on unique one of a kind items that are not available anywhere else. Click on the CATALOG link above to see the items we will be selling.

It just does not get any bigger than the Iowa Deer Classic when it comes to whitetails and hunting in Iowa. We will be selling items donated by outdoor celebrities to benefit the Iowa DNR's Mentored Outdoor Experience program. You'll find hunts and opportunities you won't be able to find anywhere else. We promise a few surprises will be on the auction block! There will be items that have never ever been sold before, and items you had no idea you could even purchase. This stands to be the sportsmans auction of all sportsmans auctions.

The proceeds from the auction will benefit the Iowa DNR's Mentored Outdoor Experience (MOE) Program at Springbrook. This program introduces youth and their mentor to deer hunting with the educational experience culminating in an actual deer hunt at Springbrook. I will be partnering with my good friend and fellow Auctioneer Cory Behr to help support the future generations of hunters in Iowa and ensure the continued success of this great program.

Come by the auction booth located near the Hall of Fame at the Iowa Deer Classic where all items will be on display during the show.

ABSENTEE BIDS WILL BE ACCEPTED! Call 712-592-8965 to place an absentee bid on any item. Credit card information will be required to place absentee bids.

This sale is in cooperation with the following entities

Whitetail Properties - Hunting land in Iowa, Missouri and Illinois

Whitetail Properties Land Auctions - Iowa Farmland Auctions

Behr Auction Company - Serving the Midwest for over 35 years

Iowa Department of Natural Resources

Iowa Deer Classic - Greatest Whiteail Show on Earth

Illinois Auctioneers | Missouri Auctioneers | Iowa Auctioneers | Kansas Auctioneers

Land Values in Iowa 2008 Survey

Tue, 16 Dec 2008 11:50:17 -0600

Today Mike Duffy at Iowa State University released the newest Iowa Land Values report This years report was especially anticipated due to today's current economic situation in the United States. Some worried land values would drop but as you can see they have remained strong throughout 2008. Coming in strong was western Iowa in this years report with the states strongest gains in farmland values. Monona County saw an increase of 19.9% and was the strongest in west central Iowa.

The following chart gives a picture of today's land values for the report that was issued based on data from November 2007 to November 2008.

A few interesting facts from this years report.

The 2008 state average for all grades of land was estimated to be $4,468 per acre.
The increase in the state value was $560 per acre from 2007.
The percentage increase was 14 percent from 2007.

Analysis by Crop Reporting District.

The highest land values were reported for Northwest Iowa, $5,395 per acre.
The lowest land values were estimated for South Central Iowa, $2,573 per acre.
The greatest percentage increase was in West Central Iowa, 19.6 percent.
The least percentage increase was in South Central Iowa, 10.7 percent.

Analysis by Counties.

The highest value was estimated for Scott county, $6,310 per acre.
The lowest value was in Decatur county, $2,002 per acre.
The greatest dollar increase was $891 in Sioux county.
The greatest percentage increase was 19.9 percent reported in Monona county Iowa.

Analysis by Quality of Land.

Low grade land in the state averaged $2,967 per acre and showed a 11.7 percent increase or $311 per acre.
Medium grade land averaged $4,195 per acre and showed a 14.4 percent increase or $528 per acre.
High grade land averaged $5,381 per acre and showed an increase of 14.8 percent or $695 per acre.

Investor Activity v. Farmers

The majority of farmland sales, 69 percent, were to existing farmers. Investors represented 24 percent of the sales. New farmers represented 3 percent of the sales and other purchasers were 4 percent of sales.
Sales to existing farmers by Crop Reporting Districts ranged from 83 percent in West Central to 55 percent in South Central and Southwest.
Sales to investors were highest in Southwest (38 percent). West Central reported the lowest investor activity (13 percent).

Smith Auction Marketing Now Offers Online Simultaneous Bidding

Sat, 06 Sep 2008 11:59:47 -0500

At Smith Auction Marketing our relentless pursuit to offer the best attended auctions, make the best use of technology and achieve top dollar for our clients we have completed our recent effort to take our Live Public Auctions online. Our Live Public Auctions will not be simultaneously broadcast online at the same time. Onsite and online bidders will compete for your property at the same time. This option allowsanybody in the world to bid at your auction, and since they have been prescreened and required to post a deposit before bidding you can feel secure in knowing the transaction will complete.

This online option also allows us the ability to accept prebids on your auction so you don't have the worry and concern all the way up to auction day what your property might bring. Prebids can not be viewed by the public but can be viewed by our staff. This will be a great indication of what the property will bring and perhaps if you reserve has been met prior to sale day.

If you are selling real estate in Iowa contact us about our auction services. Real estate auctions bring real buyers, right now with closing in 60 days. Only auctions can promise you an offer on the table in 30 days for market value. Our sales include Iowa farmland, recreational land, estates, machinery and farm sales now with the great ability to welcome online bidders to your sale. Visit our Iowa Auctioneering website or click on the Proxibid logo to see our upcoming auction with online bidding.

Iowa Land Auction 150 Acres Fremont County Iowa September 21

Wed, 03 Sep 2008 09:43:31 -0500

This 150 acre property with pond will be offered at public land auction on September 21, 2008. This will be an onsite auction at the farm. From Thurman Iowa go east on County Road J24 to 250th Avenue. Go south on 250th to the location. Watch for signs that will be placed the day of the sale.

Additional information on this farmland auction in Iowa, along with terms and conditions can be found on my auction website at www.GoWithJason.com

Located in Southern Iowa this property could be what you want it to be. Views from the top of the property provide one of the best views in the Loess Hills where you might put a home. If you are interested in a hobby farm or Iowa hunting land at the right price this is just the place you are looking for. With plenty of space, pasture and water you'll do well here. This area is known for great whitetail hunting and this property lies perfectly between the large timber tracts to the west and agricultural fields to the east.

Pre-bids now being accepted at ProxiBid.

Click the logo for more information.

Type of Listing: Public Auction
Price: Land Auction
County: Fremont Iowa
Nearest Town: Thurman Iowa
Taxes: TBD
Property Type: Agriculture, Recreation, Hunting, Fishing, Horse Property, Pasture, Building Lot
Total Acres: 150m/l
Timber Acres: 5
Water Acres: 7

Listing Details:

Topography: Rugged, Rolling
Surface Water: Pond
Structures/Dwellings:
Description of structures: No structures on this property
Services Available: Propane

Property Description:

Description: Currently this property is leased for pasture generating $8500 per year income. A small portion of the property was tilled and planted to soybeans as well and tilling the land is possible.

Income:

Agriculture: Formerly row cropped, and only partially row cropped and pastured now.

Rent: $8500 for pasture rent

Hunting Leases: None
Biological Evaluation:

Biological Evaluation of Property: This property has a large pond stocked with bass, bluegill and catfish. Deer and turkey sign have also been observed on this farm. Neighboring properties contain large tracts of timber and agricultural fields which benefit this property.

Contact Information

Smith Auction Marketing Company

Iowa Auctioneer Jason Smith

402-250-1006

Listed by Whitetail Trophy Properties

108 N. Monroe Street

Pittsfield, IL 62363

1800-971-7042

Jason Smith is an Auctioneer and licensed real estate salesperson in Iowa.

Section 1031 Exchanges - Tax-Deferred or Tax-Free?

Tue, 26 Aug 2008 15:47:47 -0500

Via Ken Tharp - Section 1031 Exchanges, Iowa/U.S.:

Did you know that after you use a Section 1031 exchange to acquire new property, you will face the same tax-related issues when you decide to sell that property? Is there any way around paying capital gain taxes when you sell your property? With the issuance of Rev. Proc. 2008-16 and some advance planning, there are now two answers to that question instead of one. The one answer we always used to have was, "Yes, there is a way, but you have to die to accomplish it." (When a property owner passes away, property owned passes to heirs at a stepped-up basis, i.e., the value of the property at the time of death. If the heir(s) sell for that value, there is no capital gain. Helpful for your heirs, but not too much that you can do with it.) That answer isn't one that most people want to hear. Now, however, there's a new, more acceptable answer in the affirmative.

Let's assume that Mr. and Mrs. Jones own a farm worth $800,000 that has a tax basis of $200,000. (Substitute "apartment building," "business location," or whatever fits your situation for "farm.") Further, let's assume that Mr. and Mrs. Jones do not live on this farm, so there is no personal residence exclusion available to shelter some of their $600,000 capital gain if they were to sell. They're not too thrilled with the prospects of being taxed on a $600,000 capital gain on this year's taxes, but they do want to sell. What to do? How about this:

Mr. and Mrs. Jones sell their farm as the relinquished property in a Section 1031 exchange.

As their replacement property in the exchange, they acquire two vacation houses, each worth $400,000 (House #1 and House #2)

Mr. and Mrs. Jones rent the two properties in accordance with the new IRS Revenue Procedure 2008-16, which sets clear requirements for vacation home property to qualify for a tax-deferred exchange.

After a period of time (at least two years to satisfy the requirements of Rev. Proc 2008-16), Mr. and Mrs. Jones sell their residence using the personal residence exclusion provisions of Section 121 of the Internal Revenue Code and move into House #1.

After occupying House #1 for a period of at least two years to establish it as their personal residence, Mr. and Mrs. Jones sell it using Section 121 to exclude their capital gain and move into House #2. (I think you can finish the steps yourself.)

Can we quantify the benefits of such a strategy? Mr. and Mrs. Jones exclude the original $600,000 of capital gains from taxation. In addition, they can shelter the appreciation of their vacation homes over the period of time they own them (to the extent of the $500,000 limit on each residence). This strategy results in three interrelated benefits:

The exiting of the business of owning the farm land (or apartment house, or whatever),

The exclusion of otherwise taxable capital gains, and

A potentially large addition to their liquid assets for retirement.

Is this legal? Darned straight it is.It may or may not be something that you or your client would ever want to actually implement, but perhaps it will help you better realize the tremendous benefits that Section 1031 of the Internal Revenue Code affords us all when we plan properly.

(We strongly urge you to consult your tax advisor to see how this exit strategy could apply in your situation.)

******

Please consider IOWA EQUITY EXCHANGE as your source for answers to your questions about Section 1031 like-kind tax-deferred exchanges. Contact us at your convenience for prompt, accurate information. Please think of us for your next exchange.

Ken Tharp

Providing Qualified Intermediary services for Section 1031 tax deferred exchanges all over the United States. Headquartered in Iowa, our services are available in Missouri, Kansas, Nebraska, Colorado, North Dakota, South Dakota, Minnesota, Wisconsin, Illinois, and all other states.

INTEGRITY. PRECISION. SECURITY.

Copyright © 2008 By Ken Tharp, All Rights Reserved. * Section 1031 Exchanges - Tax-Deferred or Tax-Free? * Contact Ken Tharp for information on Section 1031 tax-deferred exchanges anywhere in the United States.

The Farm Bill Does Not Alter the Definition of “Like-Kind” in Regards to Section 1031 Exchanges

Tue, 26 Aug 2008 15:41:13 -0500

Via Ken Tharp - Section 1031 Exchanges, Iowa/U.S.:

In order to clarify things in the mind of anyone who is uncertain about it, the farm bill that was passed by Congress does not include the language about like-kind status that those of us in the exchange industry were concerned about. The Senate version of the bill sought to redefine the term “like-kind” as it applies to agricultural ground. The crux of the change was to make land that generated any sort of subsidy from the government for its owner non-like-kind to any other real estate investment. The central objection to that provision, in my opinion, is that the government essentially imposed the subsidies on farmers over the years and it is not equitable to now make it so those same farmers could not exchange out of their long-term investments into something more manageable in their later years.

While this is good news indeed, investors and real property owners all across the country should remain vigilant with regard to potential changes in Section 1031. The mere idea that Congress took a shot at changing like-kind status as a means to raise additional funding for their other activities is cause for concern. Considering the possibility of chipping away at the provisions of Section 1031 is frightening.

Ken Tharp

Providing Qualified Intermediary services for Section 1031 tax deferred exchanges all over the United States. Headquartered in Iowa, our services are available in Missouri, Kansas, Nebraska, Colorado, North Dakota, South Dakota, Minnesota, Wisconsin, Illinois, and all other states.

INTEGRITY. PRECISION. SECURITY.

Copyright © 2008 By Ken Tharp, All Rights Reserved. * The Farm Bill Does Not Alter the Definition of “Like-Kind” in Regards to Section 1031 Exchanges *

Auction Industry to Grow 2.3 Percent in 2008 Decrease 2.7% in Real Estate Market

Thu, 10 Jul 2008 00:06:26 -0500

Its proving that previous big gains in the real estate market by the auction industry are not going to be topped this year. With big gains in the last 5 years, and growth in the last 6 in the real estate market crisis the National Auctioneers Association is reporting a decrease of 2.7% in real estate auctions despite growth of 2.3% in the live auction business. As we hit what may be the worst of the housing and mortgage crisis that comes as somewhat of a surprise to some that felt the auction industry would see gains again this year. At this point I think and agree with Tommy Williams assessment of the challenges auctioneers are now seeing. As values have continued to fall we are at a point where sellers are just not willing to accept that their home could actually be worth what the market is bringing today. Despite the relatively small decrease in real estate auctions this year they are still at an all time high and a very valuable option for many sellers.

While these statistics are all national industry wide stats I think it would be interesting to see a state by state breakdown which isn't possible. If my suspicion is correct you would actually see gains in real estate auctions in some states and losses in others. Without any hard numbers or facts to back it up the best I can say is that, at the very least the number of real estate auction in Iowa has increased this year and I've seen more and more auctioneers jumping into the real estate business. As an auctioneer I'm also seeing more and more Realtors taking notice and partnering with auctioneers to get homes sold here in Iowa. I guess we'll never know for sure but my suspicion is that real estate auctions are more popular than ever here in Iowa.

Below is a release from the NAA about the current state of the auction industry as reported at this years national convention.

National Auctioneers Association Estimates Industry to Grow 2.3 Percent in 2008
Decrease of 2.7 Percent Reported in Residential Real Estate Market

Nashville, TN, July 9, 2008 - During the opening session of the 59th International Auctioneers Conference and Show in Nashville, Tennessee, Dr. James Leiman of Morpace, Inc. announced the results of the industry's mid-year report to the members of the National Auctioneers Association. Dr. Leiman reported that if current consumer trends continue within the live auction industry, gross sales will grow 2.3% in 2008. The 2.3% percent growth during the first half will result in estimated gross sales of goods and service sold at live auction totaling $276.8 billion. This translates to six consecutive years of growth within the industry. In 2007, the live auction industry grew 5.3% with over $270 billion in goods and services sold by auctioneers in the United States.

While automobile auctions continue to dominate the industry with $87.8 billion in gross sales in 2007, the fastest growing sector of the live auction industry is real estate auctions. Real estate auction sectors include: residential, commercial/industrial and land/agricultural. In 2007, the auction industry sold approximately $58.5 billion in real estate assets. Total sales growth within residential real estate auctions has grown 46.6% between 2003 and 2007. Dr. Leiman reported that the pace of real estate auctions has slowed and gross sales have decreased in the first half of 2008. Gross sales in residential real estate decreased 2.7% in residential real estate, 7.1% in commercial and industrial real estate, and 2.3% in land and agricultural real estate.

"While auctioneers have witnessed tremendous growth in real estate auction sales over the past five years, auctioneers are witnessing more challenges in today's housing market," said NAA president Tommy Williams, CAI. "Auctions set the market value and sellers are uneasy with the realization that their property is only worth what the consumer is willing to pay and are concerned about a loss in their properties market value. In addition to seller apprehension, today's buyers are concerned with purchasing assets in an uncertain economy and do not see eye-to-eye with sellers on the true market value of their property."

Every January, the National Auctioneers Association unveils its annual end-of-the-year report to the public. This report provides and overview of the industry, as well as highlights growth within sectors of the auction industry (i.e. real estate, charity, art, antiques and collectibles, etc.). To view a copy of the past three years of reports visit www.auctioneers.org and click on Auction Industry Stats.

Real Estate Auctions Deliver SOLID Results

Mon, 07 Jul 2008 16:27:17 -0500

In today's slow moving real estate market are you having trouble getting your home noticed?

Real estate auctions can deliver the results you need. In fact, a real estate auction can put cash on the table in 60 days from the very first day you sign the listing agreement with the auctioneer.

The first 30 days are spent marketing the property and the sale is held near the 30th day. Closing is set for 30 days after the sale and often occurs before that time so you can expect to have your home sold in 45-60 days.

The first argument is likely going to be "well I won't be able to get what I want for it" You may be absolutely right and you might be wrong. Sometimes real estate sells at auction for more than the seller wanted to ask for it through an agent. In some cases you'll never get what you want, have to have or need to get. In some cases its just not possible. I'm well aware, as are the banks that a huge portion of Americans now have negative equity in their homes today. If you are facing foreclosure its possible your bank will work with you to "short sell" your home, in which case they allow you to sell your home for less than you owe against it in satisfaction of your debt to them. This is not always the case but in todays market short sales are very common, and often a cheaper option for the bank than actually going through with foreclosure. An Auctioneer can work with your bank and help sort out the details and request the short sale if you sign an authorization for them to discuss the situation with your representative.

A home is only worth what someone is willing to pay for it and those numbers fluctuate constantly. If a buyer can buy a home that fits them just as well or better for a cheaper or comparable price it affects the value of your home in their mind. Buyers will compare all of their options and establish a value for your home, value is what they are willing to pay. They are willing to buy your home, at a certain price, everybody is willing to buy your home at a price that is right to them. The driving force in today's home sales is how much a buyer will pay for the home, not what the seller wants for it. If the seller wants to much why would the buyer not just walk across the street, down the block or across town and buy another home that is more appropriately priced?

How do you know if you are ready for an auction?

I believe a real estate auction should be your first choice each time for the sale of your real estate. It guarantees you do not leave even one dollar on the table, it is much easier than listing your home, and it establishes the absolute highest dollar someone is willing to pay for your property. Here are some signs that its absolutely time for an auction.

You've had your home listed with a Realtor for more than 180 days.

You've had your home listed with a Realtor for 90 days and had fewer than 3 showings.

You are tired of getting the house in order for showings to get no offer.

Feedback from lookers always revolves around price, location or condition.

You are facing foreclosure. (Call quickly)

You are being relocated, or have another reason you must sell quickly.

You are an absentee landowner and do not want to commit 6 months or more to selling property.

You are settling an estate

You have many other items to sell along with the real estate such as machinery, tools or household items.

At Smith Auction Marketing Company we work with Realtors, and while I understand they want to hang onto you as long as possible to recoup the money they have into marketing your property, they do have the option of working with an auctioneer and splitting commission no differen than they would with another real estate agent. If you are sitting at home reading this I can only assume you are motivated to get your home sold, recommend to your agent the possibility of partnering with an auctioneer to sell your home.

For you to be successful with an auction you have to be ready, willing and able to sell your home. This includes a realistic view of what you will get for your home and understanding the highest bidder may be below what you want for the home. You may get what you want and more if your home is marketed correctly, either way IT WILL get an offer on the table that you can work with.

What is the alternative? Languishing in the MLS for another 6 months, 12 months, 18 months? They are out there, homes that have been listed for over 18 months. There are more of them than ever now. When I first was licensed as a real estate agent I was told that I was to call all my sellers each week, and even if there was no activity on their listing I was to tell them we had a few calls on it but the callers thought the price was a little high. This was supposed to prompt clients to reduce their price and make the listing easier to sell. I value my integrity and have always felt honesty was a better policy, after all its my job to give good honest advice.

Do yourself a favor and call real estate auctioneer today, get your home sold in 60 days.

The Best Iowa Auctioneers

Tue, 10 Jun 2008 16:58:58 -0500

The best Iowa Auctioneers, or at least those competing to be the best Iowa auctioneer this year will all come together on Tuesday, August 12, 2008 in Des Moines, Iowa to compete against each other in a bid calling championship. On February 2, 2008 in Des Moines, Iowa 30 contestants competed at the annual Iowa Auctioneers Association convention and the field was narrowed to 20 auctioneers that would move on to the state final.

Scott Stutzman - Mt. Ayr, IA
Leroy Hoffman - Titonka, IA
Steve Maynes - DeSoto, IA
Steve Gaul - Hawarden, IA
Jason Knapp - Cedar Rapids, IA
Jeffery Craun - Boone, IA
David Wendt - Des Moines, IA
Ben Hollesen - Sioux Rapids, IA
Emily Wears - Solon, IA
Jeremy Clay - Maryville, MO
Craig Hilpipre - Cedar Falls, IA
Gary A. Littrel - Bettendorf, IA
Chris Richard - Mt. Pleasant, IA
Larry Sears - Grinnell, IA
J.J. Wise - Manly, IA
Brent McCall - Onawa, IA
R.J. Brinkmeyer - Hubbard, IA
Randy Stabe - Merrill, IA
Chad Shepard - Waterloo, IA
Eron Prevo - Bloomfield, IA

The state final to determine this years best Iowa Auctioneer will be held at the Iowa State Fair. In reality it doesn't make them the best Iowa Auctioneer but the state champion bid caller for the year, who will then represent the Iowa Auctioneers Association at events and functions throughout the year. Those competing in the competition do put a great deal of work and practice into their bid calling and with the enthusiasm and dedication of an Olympic athlete they practice day and night. If you want to see something new at this years state fair I hope you'll come out and have a great time with us there.

My Website: Iowa Auctioneer and Iowa Land For Sale

Selling A Home By Real Estate Auction

Sun, 08 Jun 2008 11:51:53 -0500

Today's real estate market is flooded and I mean flooded with desperate sellers. I keep abreast of the real estate market on a daily basis, after all that is how I make a living and if you are serious, and I mean serious about selling a home today you have to know one thing. Price!

I read blogs, news, industry websites, newspapers, watch industry videos on YouTube and I have constantly seen the same thing for the last 12 months. There is one side saying things are bad and getting worse and then there is the other side saying "don't read the newspaper or listen to the news it's a great time to buy a home"

Both are a little bit right but I know it's a confusing message to the consumer. My concern today is what it means to a seller and not a buyer. I'll say this about the buyer and move on. It is a good time to buy a home. I'm not saying it's the best time, but it's a good time. Mortgages are hard to get and you'll be forced to buy within your means, you'll need a larger down payment than in recent years and you'll have lots to choose from. You will however have to wade through lots of overpriced homes. Its just a fact of today, there are folks trying to sell homes, they have mortgages on them and they have to pay off the mortgage to sell it, its that simple, they have to ask that price because they do not have the means to make up the difference.

If you are a seller price is what its all about today and there is a great chance that if you purchased your home in the last 1-7 years your home is worth less today than you paid for it. To sell a home today you have to be very realistic. I mean extremely realistic. If you have a mortgage and you have to have X amount of dollars to sell and its above market value then look at your options to keep the home until things improve. If there is no immediate need to sell them then keep it. If for some reason you have to sell it, lets say your job has relocated you then you'll have to do some soul searching on what you plan to ask for your home, if in fact you want to sell it. If you are facing foreclosure then time is of the essence, do not wait, call a real estate auctioneer today. There are options and they will know how to help you.

"Lets list it and start out high and see what happens." If I had a dime for every time I had heard that. In real life its one of the silliest things you can do if you are listing a home. You are wasting your greatest opportunity to sell the home right there in the first 30 days when it comes up for sale. Its the time most people will see it, say its overpriced and move right past it. You have to ask your self "do you want to put the home up for sale, or do you want to sell your home"

If you are realistic about your price and motivated to sell your home let me give you a great option to "lets start off listing it high and see what happens" I know and you know the reason you want to start high and see what happens if because you want the most money available for your home. You don't want to leave money on the table. Make sense to me, I wouldn't want to leave money on the table either. An auction does exactly that for you, it doesn't leave any money on the table.

Selling your home at auction exposes your home to the public, it brings every interested person to the sale and they compete against each other. Your auctioneer will see to it that he reaches the highest bid, and you don't leave money on the table. Now isn't that a better option than wasting the best opportunity to sell the home? Look today and see just how many homes are on the market, can you think of a better way to get your home to stick out in the crowd than to use a different sales method than everybody else is using?

If you are serious about selling your home and you are realistic about the value of your home then call a real estate auctioneer or visit our Iowa Real Estate Auction website. I also work with and with Realtors, after all they would never think twice about splitting commission with another agent, why not an auctioneer? In the end the home is sold and thats what we are all after right?

Western Iowa Auctioneer Land Auction Monona County Iowa

Sun, 08 Jun 2008 10:55:15 -0500

Western Iowa Land Auction

Yesterday I was able to attend the large land auction in Monona County in western Iowa conducted by Ed Spencer. The land up for auction in this case was a of some historical value and a well known local operation. The large 560 acre feedlot had originally been built by the Hanson family and was later purchased by the Johnson family. The land auction was held at Moorhead Iowa while the location of the land was near Turin Iowa.

With many local folks in attendance, many of them to see who would purchase the farm and what the land would be valued at by the end of the auction. Many stories were shared about the old farm and especially the number of head they used to run in the feed lots. Even today it would be considered a large operation.

Bidding on the land started around $1500 per acre. The farm was sold based on a taxable acres of 554.81 with all of the structures and infrastructure to go with the property. It was all set up and ready to recieve a new cattle operation that very day, in fact the buyer would be allowed to place cattle on the property after signing the purchase agreement after the sale. That was very generous of the sellers, and in addition the sellers were also throwing the 95 acres of corn crop in with the sale.

By the time bidding stopped the last bid was $2200 per acre for a sale price of $1,220,582 which was right where I thought it would land in the end.

If you are thinking of selling a farm or land in Iowa give us a call today to discuss it. We sell Iowa farms and land and they are in demand today. Visit our Iowa Farm and Land website for more information on farm and land auctions in Iowa. While you may be tempted to accept an offer from a neighbor for the ease of "not dealing with it" I'm sure you won't realize a higher price than with a live public auction. Auctioneers more than pay for themselves and can put more money in your pocket.

You really want to sell? Understanding value?

Mon, 02 Jun 2008 12:26:35 -0500

Jason Smith is an Iowa Real Estate Auctioneer and member of the Iowa Auctioneers Association as well as the National Auctioneers Association.

I have many conversations with folks about the value of their property. It might be Iowa farmland or a house, after all everything has value and as an auctioneer value is important to me. Value is complex and more in-depth than I can cover in this short blog post, but I'll hit the high points from an auctioneers perspective.

In nearly every conversation with a potential seller I will always hear something along these lines. "Well I bought it 10 years ago for X amount of dollars and then I did this and that and then this to it, plus I did this, this and this and I know my neighbors down the road sold for X dollars 3 years ago so mine has to be with Z dollars now."

Certainly looking at value from that perspective would seem to be a common sense approach, but it doesn't work. If you are serious about selling real estate you've got to know, and this is the best advice I can dole out..... it just doesn't work that way. You cannot take your purchase price, add all of the things you did to it, add interest, a real estate commission and get that dollar figure today, in most cases. In some cases you can but home values have dropped and being realistic today is what will help you sell your real estate.

Value is determined through many things and in today's residential real estate market pricing is everything, I can't even begin to explain just how important pricing your home is today. Values of nearly everything fluctuates every day. If you look at the stock market you'll notice that values change on a daily basis, things go up and down based on a certain set of factors surrounding them. Certainly demand has the greatest affect on value. When demand is low and supply is high your asset drops in value. If demand is high and supply is low you'll see the value of your asset increase. Supply and demand can be used to summarize all of the factors affecting value.

All other things that affect supply and demand are sub characteristics and you see many of them affecting value today. They do not affect each area the same however. A plus for one area, may be a minus for another area. Take for instance gas prices. Gas prices are affecting today's supply and demand in the housing market where I live. Since we are on the outer fringes of the Omaha Council Bluffs metro area in western Iowa and eastern Nebraska we are starting to see folks put their homes up for sale to move closer to their employment in the city, and fewer people moving out to the country. This creates an oversupply of homes in the area and reduced demand or a minus for our area. Adding supply to a market that already had an oversupply with increased foreclosures in the last 12 months spells a real reduction in value. That very factor however is a plus for the cities of Omaha and Council Bluffs that are seeing more folks move in to avoid commutes and save on gas.

Supply has been affected by speculative building, mortgage defaults, and decreased demand while demand has been affected by a poor economy, gas prices and knee jerk reactions to the credit crisis we are seeing. It's much harder to get a mortgage today than it was 18 months ago. All of these things affect the value of your home.

If you look at that compared to the original statement above in the second paragraph you'll notice that sellers often do not think of supply and demand or current market conditions to determine value of their asset. There is no magic number to calculate the value of your house today and I'm not saying that its worth less than you paid for it, but I can tell you the best, easiest and cleanest way to determine the value of your home is with a real estate auction. Real estate auctions are the best form of appraisal you can find. Better than even hiring an appraiser to appraise your home. An appraisal is only one persons opinion of the value of your home. 3 appraisers would have 3 different opinions and NONE of them are offering you money. With a real estate auction you have someone offering you REAL CASH and not an opinion. Your auctioneer has marketed your home to every buyer interested in purchasing a home, they all came together, bid against each other and the highest bidder has just given you an appraisal for free! The most a person is willing to pay for the property is the value of your home, not what some appraiser said.

While the residential real estate market is experiencing a buyer's market today, land sales in the Midwest are in a seller's market that continues. A very different set of factors are playing into the land sales market and values of land continue to increase month to month. If you thought all real estate was the same and experiencing the same downturn today I'll explain why it's not true.

Today's grain prices are up, the stock market is down and more people are investing in the safety of farmland ownership. Farmland used to produce income is the most valuable land. This may be row cropped land for producing corn, soybeans, wheat or many other types of land. Land used for pasture of livestock comes in second in value while other lands used for timber production, recreation such as hunting usually falls 3rd in value. Determining the value of the land you are interested in selling will be determined by the amount of income it can produce, or its proximity to development. Certainly you'll see cases of land in close proximity to metro developments that will fetch a much higher price than it would if it was not in close proximity.

A reasonably steady supply of demand has not kept pace with the demand for land. Land auctions have been especially popular over the last 24-36 months with great attendance, many times with record prices set at each consecutive auction. Things continue to look bright for the future of land sales and ownership and as long as income keeps pace the value will remain steady and increase.

Could value of land fall? As I said before values fluctuate everyday up or down and if you were subject the land market to the same things the housing market is experiencing today you would see the same affect. While its highly unlikely its possible because value is affected by the supply and demand.

The distinct difference between homes and land is supply and demand. Land has a higher demand than supply today while homes are in oversupply and in low demand. In either situation an auctioneer can get you the best offer with cash on the table in 30-60 days. The alternative is to list it and let it sit on the market for months, or even years while you continue to pay the holding costs of interest, taxes and insurance. Add those up and see what you could save by calling an auctioneer today.

Iowa Farmland Auctioneer Services

Mon, 19 May 2008 10:55:05 -0500

Iowa Farmland Auctions

With Spring planting well underway in Iowa and the midwest the 2008 growing season officially on. It may only be the beginning of the planting season but if you plan to sell your farmland this year its time to begin preparing for your sale.

Here in the midwest farmland sales are popular in the fall through winter but sales to occur at other times as well. Auctions are the most popular method of selling farmland and in the past 5 years land prices have doubled. There have been some surprises along the way. At a recent auction I was told by a person in attendance that the farm would sell for no more than $3500 per acre. In fact the seller had nearly sold the land for close to that price before contacting us earlier this year. When the bidding was complete the farm sold for $4900 per acre. Those are surprises that sellers love. There have been many other examples in the past few years. With land values climbing nearly 22% the last September to September period I suspect we'll see positive gains again this year in farmland values at auction.

Thinking of selling?

If you are considering selling farmland this year there has probably never been a better time. With land values up sharply and grain markets reaching all time highs land is in demand.

The sooner you contact us about your land auction the more time we will have to prepare and advise you. Certain timelines will apply if you have tenants leasing the property and you'll want to take a look at the lease you have in place if you have a written lease. Generally you must notify your tenant of termination of the year to year lease before September 1, in which case they will relinquish possession of the land on the following March 1. If this notification is not executed before the notification deadline you'll likely have to allow the tenant one more year of farming the land. This does not mean you can not sell the land, however the buyer will only have landlords possession of the land for the first growing season. Now if the farm is being purchased by an investor many times they are glad to have a tenant already on the land and may continue the lease or negotiate a new lease with the tenant.

Absentee landowner?

Are you an absentee landowner or settling an estate? When distance is an issue we want you to contact us and let us handle it for you. We understand the complexity of trying to do things from a distance and are able to handle everything on our end. In today's world of faxes, email and overnight mail we are able to complete and entire transaction with ever requiring you to travel to the area.

Date of Sale

Timing a land auction is an important consideration and with this years crop going in late, its going to be harvested late as well. Timing your land auction at the height of harvest is likely to result in less than idea attendance at your sale. Additionally there are other timing considerations that are important which are often determined by the area the sale will be held. Visit our Iowa Farmland Auctions site to get more information on booking your own sale. Get your auction booked early to ensure great placement on the calendar and a highly attended sale.

Missouri Valley Iowa Real Estate Auction Nearly New 3 Bedroom Home

Sat, 22 Mar 2008 09:59:54 -0500

On April 18 we will be selling a nearly new home in Missouri Valley at auction. This custom home was built in 2004. All carpet and wood floors were recently replaced and the buyer will enjoy completly new flooring. The home also comes with stainless steel appliances and includes 3 bedrooms, 2 bath, walk in closets, 2 car garage and a large bonus room above the garage. You can find additional photos at at AuctionZip.com and AuctionBill.com here.

Nearly new home! Residential real estate to be sold at public auction in Missouri Valley Iowa.

Seller: Garrett and Melissa Klutts

Address: 1103 W. Michigan Street Missouri Valley, Iowa 51555

Sale Location: 1103 W. Michigan Street Missouri Valley, Iowa 51555

Sale Date: April 18, 2008 at 2:00pm

Lot Size: 70 X 100 feet

Square Footage: Main floor 1457, bonus room 928

Terms and Conditions

Down Payment: 10% down payment due the day of sale. Your bidding is not contingent upon financing, financing must be arranged prior to sale. All bidders to provide approval letter or proof of funds.

Taxes: Gross Taxes: 2599.14; Net Taxes: 2450.00; Tax Year: 2006

Closing: Closing May 19, 2008

Flood Plain: Property is located in a flood plain.

Buyers Premium: 10% buyers premium

Public Inspection Times: March 28, 2008 at 5pm and April 11, 2008 at 5:00pm

Cooperating Brokers: Cooperating brokers paid 2.5%. Register your buyer by contacting Jason Smith 402-250-1006

Sellers Agent: Jason Smith is the sellers agent only and a licensed real estate agent in the State of Iowa.

Auctioneer: Jason Smith 402-250-1006

Open Houses: The home will be open for public inspection on the following dates and times. March 28, 2008 at 5:00pm-6:00pm and April 11 at 5:00pm-6:00pm

Directions: Home is located near the swimming pool. From the swimming pool in Missouri Valley go west on Huron to Shawmutt Street, north on Shawmutt to Michigan, Michigan west to 1103 W. Michigan.

Auctioneers Notes: This home is a newer custom home built in 2004. The home has 3 bedrooms and 1.75 bathrooms. 2 car garage with large bonus room above the garage. All stainless steel appliances in the home are included in the sale. All new carpeting and wood flooring was just installed and will be brand new for you. Heating and cooling system is a heat pump. Home is sold "as is where is" with no contingencies. This home is ready to move in and live in immediately.

Visit our Iowa Auctioneering site for more information.

Contact information Jason Smith 402-250-1006 or 712-646-2061

Want To Be a Hero To Your Client? - Real Estate Auctions

Fri, 07 Mar 2008 12:50:09 -0600

In todays gloom and doom real estate market I've got some great news you can take back to your clients to give them some hope. Real Estate Auctions are helping separate more and more people from their listing when they thought there was no hope.

Real Estate auctions bring excitement and attention to your listings and partnering with an auctioneer makes sense. If you have clients that really want to sell that home you'll be their hero for finding a solution to their trouble and you'll still get paid and they still get market value. As a Realtor you have many tools, many relationships with key people to assist your clients but do you have an auctioneer?

If you don't have an auctioneer in your brokerage does that mean you can not use or offer auction services? Absolutely not, you still have the option of using an auctioneer. If you can't find one call me, I travel!

Why partner with an Auctioneer?

Each home has a market value and using the auction method of marketing is the best way to determine the market value and the best way to GET market value. When all the marketing has been done properly you will attract all buyers that are interested in the property and they will compete against each other to buy the property. The final price will be the market value, the amount of money someone was willing to pay for it. Now as a Realtor you'll have a ready made list of people that want to buy homes! You'll get the registered bidder list when the auction is through! Thats the easiest prospecting you'll ever do. You'll also still get paid your commission on the sale and you'll be the hero of the clients that hired you in the first place.

Do auctions really make sense?

You know that at any given time there are a certain number of people interested in purchasing a home. You also understand there is a market value for each home. Why not put that home in front of all of them and offer it, let them bid their highest bid and see who comes out the winner? You will offer a greater predictability for your clients. Your selling clients will be able to choose the amount of the earnest deposit (usually 10%), they will be able to set the sale date, they will be able to set the closing date and all other terms. The best thing about an auction for a seller is that they get to set the terms and the buyer must abide by them. Here is one of the things I love about auctions NO CONTINGENCIES. Would your life be easier if you did not have to worry about getting that cracked shingle fixed, or the carpet replaced. Would you sellers life be easier if they did not have to wait 30 days to see if the buyers financing was going to go through?

Can somebody steal the property?

Absolutely not and this is the biggest misconception about auctions, but also lends to their popularity. Sellers worry that someone could just come buy the home for a few thousand dollars and buyers think they may be able to get a good deal. It might make sense this way. I am both an agent and an auctioneer so I sell homes both ways. As an agent we are usually starting above market value and moving down. As an auctioneer we are starting low and moving up. Which price is going to be more attractive to the buyer? Most likely the lower price. When a buyer sees a home with an opening bid of $90,000 but feels the home is worth $150,000 they are going to be attracted. If a buyer sees a home priced at $170,000 and they feel its worth $150,000 they may never give it a second look. Now that $90,000 will move up and when the bidding ends will be around $150,000 or over. If the auctioneer has done his/her job marketing the property and brought the right buyers and the home is worth $150,000 thats the area it will sell. You do want to bring attention to your listings am I correct?

There are two types of auctions. Reserved auctions where the seller sets a price the bidding must get to before they will sell and Absolute where the seller agrees they will sell to the highest bidder regardless. Back to my original question whether the home can be stole at auction... no. People are going to protect their investment with a reserve. Reserves will protect the sellers interest but DOES NOT put a cap on the price.

Take a look back at the example I gave earlier of the $150,000 home. If originally you thought this home was worth $150,000 but your seller priced it at $160,000 then you have essentially put a cap on it. You are not likely to get more than $160,000 on the home. With an auction there is no cap. What if someone was willing to pay $180,000 for the home? With an auction you are going to take advantage of this benefit and not leave money on the table, you are going to feel certain in the end that you have gotten what the home was worth.

What kind of homes are sold at auction?

Every type of home can be sold at auction. An auction has nothing to do with the type of home. Distressed homes, executive homes, new construction homes, builder held homes, incomplete construction, model homes, mobile homes, vacation homes are all candidates for auction. An auction is about marketing, its not about the type of property. An auction brings attention and interest to a property. You and I both know how hard it can be to get attention to our listings right? An auction makes your listing the "Rock Star" of the all the homes available.

I've said in the past that not all homes are candidates for auctions when I should have said "Not all sellers are candidates for auction" Any home is a candidate for auction and again, it will sell for market value. Sellers however might have circumstances where the home can not be sold for todays market value. If their mortgage is larger than the market value.

So does this mean auctions only work in a buyers market?

Oh absolutely not, you can sell real estate at auction in any market condition but I think you as a Realtor are more likely to be searching for options in todays buyers market but lets talk about it as if it were the other way around right now. If we were in a sellers market right now and we had more buyers than sellers you'd expect to see multiple offers right? Thats what an auction is, a multiple offer situation. The difference between the two is that at an auction everybody can see everybody's bids. Its open and transparent. Now I bet you have been there and tried to explain to a client that the home they offered on has two other offers and they give you that look of "ya right" or they ask "how much did the other people offer" and you can't answer them. You have to tell them to give their highest and best offer right? Well if you were hold an auction at the property there is no question who is bidding what, there is no worry that the other offers are "made up to get more" Its happening right now, right here, right in front of our eyes, its real and if you don't bid now one more time those other people are going to get it so think quick and get that card in the air.

What is an auction?

When someone says auction you are thinking of the auctioneer with the microphone in his hand chanting. An auction is so much more than that. An auction is about MARKETING. You've heard me say "the auction method of marketing" or "auction marketing" The auctioneer chanting the bids is an important part of the auction. A good auctioneer is a good bid getter and its more difficult than it looks but the real meat lies in the marketing ahead of the auction. Without marketing you can not even get the buyers to the auction to bid. Auction marketing is intense, its accelerated, its condensed into a short time period. Its the only way to assure you got every dollar the home was worth and not a penny less. The marketing does many of the same things you would do to market a private treaty sale, but it also does much more. Auction marketing brings interest and excitement to a single property and spotlights it for all to see.

Interested in the auction method? Our Iowa Auctioneering service may be able to help you sell your real estate at auction. Want to know how you can partner with an auctioneer and do the very best for your clients?

Auction Results Iowa Farmland Stanton Iowa March 5, 2008

Wed, 05 Mar 2008 21:16:08 -0600

Today Smith Auction Marketing Company conducted an auction at Stanton Iowa for seller John Crofts Jr. The farm to be sold was 240 acres of Iowa farmland along with a farmstead consisting of a home and outbuildings.

Tract #1: Total Acres 80 m/l , Cropland 75.6 acres according to FSA. Taxable Acres 76.96. Method of sale 76.96 X bid price to determine total sales price. CSR 77.2

Price realized was $4900 per acre

Tract #2: This tract will be 155 acres more or less. Cropland 141.3 acres. Approximately 5 acres to be surveyed off at sellers expense for homesite at 2337 M Avenue. Taxable acres 149.09 m/l. Method of sale 149.09 X bid price to determine total sales price. 1.4 acres enrolled in CRP. CSR 73.2

Price realized was $4550 per acre

Farmstead: Two story 3 bedroom home built in 1890 with 2 car garage. 2 wood frame barns, chicken house and small miscellaneous sheds. Price realized $75,000

Total price realized at the auction $1,130,463.50

For information on selling your Iowa Farmland at Auction visit our auction website and give us a call to book your auction.

Residential real estate auction revenue increase 5.3% despite housing market downturn

Sat, 23 Feb 2008 22:11:13 -0600

Residential real estate auction revenue increase 5.3% despite housing market downturn

Overland Park, KS - In 2007 the gross revenue from goods and services sold at live auction grew 5.3% to $270.7 billion. In 2006, the auction industry sold $257.2 billion in goods and services at auction, an increase of 7.1% from 2005. The annual report was compiled by Morpace, Inc. on behalf of the National Auctioneers Association (NAA) which surveys auction professionals to determine the state of the industry, as well as track key auction specialties within the industry.

While traditional real estate professionals continue to face the challenges of a housing market downturn, the real estate auction market continues to be one of the fastest growing auction sectors generating $58.4 billion in 2007. Within the real estate segment (i.e. residential, land/agricultural, commercial/industrial), residential real estate auctions witnessed the largest growth, increasing 5.3% from 2006. Accounting for 32% of the total live auction industry, automobile auctions continue to be the largest sector of the industry generating $87.8 billion in sales. Charity auction revenue grew from $15.6 billion in 2006, to $16.2 billion in 2007, an increase of 4.1%. The overall number of live auctions conducted in 2007 increased by 4.6%.

"The live auction industry continues to grow at an amazing pace," said NAA president Tommy Williams, CAI. "More and more consumers are realizing the benefits of buying and selling at live auction. Consumers are now buying or selling their homes, purchasing art and antiques, or raising capital for charitable causes through auctions."

To assist consumers interested in real estate auctions, the NAA launched the first real estate auction multiple listing service (MLS) in 2007. Prospective bidders from across the world can access http://www.auctionmls.com/ to view upcoming real estate auctions ranging from residential, to farm/agricultural real estate. In addition to launching the first auction MLS, the NAA partnered with the Auction Network to develop the first 24/7 multi-media network devoted to the auction industry. Everyone from the enthusiast to the casual bidder can participate real-time in a wide variety of auctions taking place worldwide by visiting http://www.auctionnetwork.com/.

** Article taken from the National Auctioneers Association 1/23/08 News Release ** About the NAAHeadquartered in Overland Park, Kansas, the National Auctioneers Association (NAA) represents the interests of approximately 6,000 auctioneers in the United States, Canada and across the world. Founded in 1949, the mission of the NAA is to promote the auction method of marketing and enhancing the professionalism of its members through education and technology. In 2007, the auction industry grew by 5.3% with over $270 billion in goods and services sold. To learn more about Auctioneers, auctions and the NAA visit: http://www.auctioneers.org/.

For information on real estate auctions in Iowa visit our Iowa Real Estate Auctioneer website to learn about auctions or to book your auction.

Get Your Home Noticed and SOLD With A Real Estate Auction

Sat, 23 Feb 2008 20:20:13 -0600

Are you considering selling a home? Have a home you can not get sold? Have you considered the auction method of marketing? Auctions are an ACCELERATED method of marketing. When most people thing of an auction they think of a fast talking auctioneer. The fast talking auctioneer is only a small portion of auction marketing. 95% of the work occurs before the Auctioneer even takes the podium. The auction method of marketing is about MARKETING and not FAST TALKING Auctioneers.

There is a growing trend in the United States and more and more people are selling their homes at auction. Today the National Auctioneers Association(NAA) released new numbers about real estate auctions and real estate is the fasted growing segment of the auction industry. You might think this is due to the current market condition but the numbers actually were measured over a 5 year period from 2003-2008. You'll recall that time period is also the same time period when we experienced a sellers market and home prices were high. According to the NAA real estate auctions have grown 46.6% in 5 years. When you think about that number it is overwhelming. The increase is due to several things and among those are better education of the public on the auction method of marketing, the publics more favorable opinion of Auctioneers as compared to real estate agents (I'm both) and certain cultural factors that make auctions less mysterious to the public. Ebay's online auctions have made auctions commonplace and today's younger generation grew up with auctions, and other segments have become more familiar and comfortable with auctions through Ebay and other online auctions. These things combine to make today's live public auctions a more appealing method of selling real estate.

Would you be comfortable selling your home at public auction? I know your number one concern is going to be price! You are going to be nervous that nobody will show up to bid on your home and somebody will be able to steal it. Give me a second to show you something. If your home is listed with a Realtor and say its been sitting on the market 180 days then isn't it already happening to you? Nobody is showing up to bid? Is the time and holding cost already costing you money?

If you have already purchased a new home and are still making payments on the old home its costing you the mortgage payment, interest, taxes, insurance and upkeep (mowing - snow removal) for the second home. How much is it costing you to keep the home listed? If your monthly payment plus interest on the home is $1000 and your taxes are $300 and your home insurance is $75 then its costing you no less than $1375 per month. Thats $8250 over a 180 day listing. With a real estate auction there is a 30 day marketing period and a 30 day closing period, thats a total of 60 days from start to finish. Is a listed home even guaranteed to sell within the typical 180 days listing period? Remember, I am both an agent and an auctioneer so I can comfortably say the answer is easily no, otherwise there would not be so many homes right now that have been on the market longer than that!

With an auction your home is exposed to the market in an intense and accelerated way. An auction is an EVENT and the center of attention is YOUR HOME! Attention and interest is brought to your property. All of a sudden your home sticks out, its not just ANOTHER listing in the MLS. There are flyer's hanging all around, post cards are being sent out, its posted all over the Internet to auction websites, the MLS, blogs, advertising websites, its in the newspaper with its VERY own ad. If you are listed with a Realtor some of that same advertising is done, only over a longer period of time at a much slower pace. With a Realtor you do not get the individualized advertising like the flyer and newspaper ad.

Think about the difference between a listing and an auction for a minute. With a listing you start high with your price with the intention of having to come down. After all you did not want to start to low and leave money on the table right? Ever have a Realtor tell you "well we can always come down" With an auction you start low and generate interest and at auction the price goes from lower to higher. When the property is advertised correctly all interested buyers come to compete against each other. This is the best form of appraisal. The bidding will stop when nobody is willing to pay more for your home. Now back to your concern someone could "steal" your home. There are two types of auctions, reserved and absolute. Absolute means you will sell your home to the highest bidder. With a reserve auction you will be able to reserve your price, meaning ahead of time you set the price you will let your home sell for. If bidding is above that price your home sells, if it is below that price your home does not sell.

Here is another great benefit of an auction and one of the best I think. YOU set the terms of the sale. You will have no contingencies to deal with. Ahead of the sale you and I sit down and discuss your options. You set the sale date, you set the closing date, you set the down payment due at the sale and you sell the real estate AS IS WHERE IS! When a Realtor brings you an offer the buyer is setting the terms by making you an offer. With an auction you make all of the decisions, I advertised those terms and conditions, we state the terms and conditions just as the sale begins and any person bidding accepts those terms and conditions. A 10% non-refundable earnest is typical the day of the sale. If the buyer fails to close the earnest deposit is non-refundable and goes to the seller. If you are selling a home that sells for $100,000 thats a $10,000 earnest deposit, a very motivating deposit for the buyer to close. Statistics show that 99% of homes sold at auction actually close.

Finally, according to National Auctioneers Association 2007 Auction Industry Growth document released today "Despite a slump in sales of new and existing homes in 2007, revenues from residential real estate sold at live auction grew a solid 5.3% from 2006, and 46.6% since 2003. What might account for this performance? One explanation might be the greater acceptance of the auction method of marketing among homeowners, buyers, institutions, and real estate professionals. Public recognition of the benefits and successful results of live auctions should bring even greater growth to this sector as the housing market recovers. As the sale of real estate through live auction has increased, real estate agents have discovered the opportunity that live auctions provide for quicker turnaround of property. Finally, Auctioneers' interest in marketing real estate has accelerated, particularly using multi-tract sales to increase a property's value."

I work with Realtors that bring me sale clients and you still get paid a commission on the sale. If you are a Realtor and have a property or two you think may make a good candidate for auction please call me so I can show you how we can work together and you can still make a commission. I know how valuable your clients are to you and by working together you have more options at your disposal to sell clients listings.

As an auctioneer its my job to get you top dollar for your home while you the seller pay less in commission since some of it is paid by the buyer through a buyers premium. I do that by AGGRESSIVELY and INTENSELY marketing your home, bringing lots of attention to it and getting every buyer possible to your sale. As an Auctioneer at the sale I represent the seller and the seller only. Many are but not every situation is right for auction so give me a call to inquire about selling your home through the auction method or marketing today.