News reports continue to show increases in single family real estate sales across much of the country.  These sales are occurring due in large part to very deeply reduced prices by sellers, short sales or bank owned property being sold at a fraction of previous sale prices.

 At the same time, we continue to see climbing delinquencies and foreclosures now spreading beyond the 5-6 critical states where they originated.

 What does this mixed information tell us.  In my opinion, it suggests the beginning of a very long correction that will continue to see a consistent pattern of purchases and a continued high degree of delinquencies.

 The good news is that you can once again sell your property, the other news is ...for what price?

 To achieve the highest price the market will offer on a given date and sell your property using the most advanced marketing techniques to attract multiple buyers, choose the auction method.  You will sell and your property can be exposed to literally thousands of potential buyers prior to sale date to obtain the highest price possible.

 To learn more about how a well planned auction can work to your advantage, please visit www.Auction-Generation.com or contact Troy Fowler at 305-206-0349

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 In today's stagnant economy, real estate continues to prove to be a challenge to sell in most cases. 

Sellers are being forced to wait years to move there property and often at prices that they never imagined they would have to sell for.  Coming to the realization of what a property may sell for vs. the asking price is the first step in determining if a seller is ready to auction. 

The auction method offers so many benefits over the traditional listing/sales methods.  One benefit which is becoming more and more important is time and the time value of money which is locked up in idle real estate. Today's. many sellers are more motivated than ever before and buyers are scarce.  This is all the more reason to choose a creative, high impact approach to sell your property through auction. 

 I personally think the raffle approach is very creative and offers a wonderful alternative to link with a non profit as part of the sales approach.  I also believe that there is still a lot of awareness and confidence building needed to make this a more viable approach.  Real estate auctions have been around for decades.  They are once again becoming the preferred method for sellers who are seeking a quick and efficient method to attract multiple buyers at one time to sell your property and close with 45 days. 

 To learn more, please visit www.auction-generation.com 

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If you speak withy many of the leading real estate brokers in South Florida, they would have you believe that the ultra luxury market is back!!  In fact there has been an up tick in sales of homes/condo market over the $2-3M
level during the past several months.

 
However when you dig deeper, the underlying factors do not really appear to be a return to the good old days, but rather selected opportunities to purchase these properties at very deep discounts by those with very deep pockets

 
Just days after reading an article about the bounce back of the luxury market, I read an interesting article a leading South Florida daily business publication that seemed to suggest just the opposite.
 

In the very high end community of Manalapan, sales have been very slow. Now, I do not mean to compare this community with the $2-3M market, but this is certainly an area where the ultra wealthy would be buying if they believed the market was back!

   
Luxury Home Miami  Auction Generation                                       Miami Skyline

I do believe that we will continue to see isolated cases of purchases in many markets, especially single family homes that he bought at considerable discounts.  Otherwise, I continue to maintain a strong conviction that the market has years to go before recovering and it will reshape the Florida  real estate landscape before we reach a normal supply and demand.



If you are thinking of selling, no matter the value or type of property, please research the auction alternative.  Please visit my web site www.auction-generation.com  or call Troy Fowler at 305-206-0349.

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If you speak with many of the Brokers of real estate companies throughout the state of Florida, there is a feeling that buyers are returning to the market. 

 It seems that many documented sales have been recorded in the luxury market, especially in the 2M and above category.  There has also been a large increase in sales by first time buyers and investors who are buying REO properties and flipping them for a quick profit.

 The general thinking is that with the large number of baby boomers that will be retiring over the next 20 years, Florida's current large surplus will be absorbed and it will return to a place where owning real estate will once again become a great investment.

 As one long-term investor put it, real estate never was meant to return a quick profit!

I believe that much of what I have read is true.  On the other hand, I know that factually speaking, the real estate market is a very slow moving mechanism and while these positive feelings are encouraging, we still have a long and rough road ahead.

 It would be nice to think that the worst is over and better days are just ahead.  It took us seven long years to get here and we will not return to that "normal "state of supply and demand for years to come.  In summary, I believe the investor who stated that real estate was never meant to turn a fast profit was very profound!

 Sellers, always remember, if you are trying to sell and have not been invest real estate miamiable to, or you are just ready to move forward, investigate how a well executed auction can produce great results.

 To learn more, please visit www.auction-generation.com

Sold:Auctions becoming popular alternative to sell homes

By Marilyn Bowden,

We've heard from members that 2008 was a sit-out year as people waited to see where the market was heading.' Chris Longly `If I had a property to auction, I would not want the gamble on an absolute auction unless I had to.' Troy Fowler

More and more would-be sellers are looking into auctioning off residential properties rather than listing them for an indeterminate time in a market where prices continue to fall, auctioneers say.

According to the National Auctioneers Association, the number of residential real estate properties sold at auction nationally increased 47.7% from 2003 to 2008.

"Auctions have not in the past been common in real estate,"
said Chris Longly, association spokesperson," but they are becoming more so as we move forward." He said it's estimated that sales of residential real estate by auction grossed $58.6 billion across the US last year, a 1.1% increase over the 2007 total.

"We've heard from members that 2008 was a sit-out year as people waited to see where the market was heading," Mr. Longly said, "but they are seeing more activity this year as people accept reality and become much more aggressive."

Jim Gall, president and founder of Miami-based Auction Company of America, said auctions have two advantages over traditional sales.

"People are realizing that auctions are not only the fastest and most effective way to sell their homes," he said, "but also bring the true fair market value of the property. They can sell as is without any financing contingencies, so it can be a real win for them."

Those who need to sell within a specific timeframe are most likely to seek out the auction process, said Laura Brady, president of Boca Raton-based Concierge Auctions, an affiliate of Sotheby's concentrating in the luxury market.

"We are definitely seeing it growing as an available alternative to traditional brokerage,"
she said.

Mr. Gall said the most activity currently comes within the $500,000-$1 million price range, where mortgages are just now starting to adjust.

"The area where I have the most success is with probaterelated properties," said Troy Fowler, principal of Auction Generation in Miami, "people who have inherited a property they are not emotionally attached to and that will become a burden."

Sellers who want to guarantee a certain return can set a minimum price, or reserve.
Otherwise, in what is called an absolute auction, the property is sold to the highest bidder.

"An absolute auction is the way to go," Mr. Gall said, "because it brings out a lot more buyers, the bidding gets intense and the seller ends up with more money."

Sometimes, Ms. Brady said, it's necessary to get lenders as well as buyers to agree to an absolute auction, especially when, as is common today, the price achieved is likely to be less than the amount owned on the loan.

"We have to educate sellers on the inventory situation in their area," she said. "It could take upwards of five years for some of these properties to sell.

"We've found that the majority of our sellers are very pleased. They have been so frustrated by the status quo that they're happy to see the turnout that we've produced. And they are able to see the value of the property firsthand on auction day."

Mr. Fowler said about 90% of his auctions are reserve auctions, and he finds they can draw a good crowd.

"Sometimes an absolute auction is too risky," he said.
"If I had a property to auction, I would not want the gamble on an absolute auction unless I had to."

Mr. Fowler, who is also licensed as a real estate broker, said he won't take a property unless he believes the reserve price is achievable ­ but often sellers end up accepting lower bids anyway, rather than forfeit the money they paid in advance for advertising and gambling on listing the properties with a broker instead.

For buyers at auction, it's caveat emptor, said Mr. Gall.

"They need to know their pricing," he said, "and they might want to have a home inspection done as well, because the property is sold as is."

The terms include a 10% buyer's premium added to the top bid to pay the auctioneer, he said, and buyers must pay a 10% deposit on auction day.

Ms. Brady said about 85% of buyers over the years ­ 100% so far in 2009 ­ have been endusers.

"We've seen investor interest in some of our properties," she said, "but end-users are paying the highest prices. We get a lot of international participation from bidders."

Not all bidders are physically present, Mr. Fowler said; his auctions frequently include bids taken over the phone or the Internet.

There's some distrust, he said, between auctioneers and brokers.

"I'd like to see more collaboration" he said, "between the traditional real estate community and auction community."

One the other hand, Ms. Brady said, "we oftentimes hear from Realtors and buyers that we produce market value, and the auction process is a viable alternative to producing the highest value on the property."

As Florida continues to deal with partially completed high rises and town home/residential communities, those who are often the first to occupy them can often face multiple challenges.

Many developers have reported that due to unpaid maintenance and original buyers that have backed out of these purchases, those remaining have to deal with challenges that they never expected.  This has left many of the new owners that have moved in dealing with issues including theft, squatters, lack of hired security, few if any amenities, poorly maintained grounds and a general feeling of lack of safety.  

 With scarce buyers and thousands of unsold units, it is time that developers and lenders begin to take aggressive measures to sell theses properties so that many of these concerns can be addressed and these communities can begin to operate as the plans called for.

 A well managed real estate auction can provide the critical benefits to aggressively market a property to thousands of potential buyers and generate sales that can start the process for turning these properties around.

I was watching a panel debate on this topic last night (with my dog) and one thing became very clear, no one is clear on this answer.  Of course, when you have the company leaders of the countries largest real estate firms weighing in, they are almost obligated to put a positive spin on things.  Being in the real estate industry myself, I want to believe the worst is behind us.  Unfortunately, I do not. 

I do believe that there are rational arguments for why one would take either position.  Depending on where you live in this country, your exposure and the reality can look very different.  I happen to reside in South Florida, one of the hardest hit markets in the country.  Without getting into the dynamics of why certain markets and speculation played a key role that put us in this situation, I believe that the result has spilled over into the overall health of our economy and it will take at least another 2-4 years to work our way out of it.

I also believe that until we once again reach a normal supply/demand ratio in housing, the economy will remain vulnerable, as so much of our GDP is either directly or indirectly tied to housing and construction.

Until then, we have to work with what we've got and strive to make deals happen that move us back in the right direction.

Follow me on Tweeter for my updates! Thank you: http://twitter.com/troyflorida

As the real estate market in South Florida continues to find the floor in terms of pricing, another nuisance is slowly finding its way into the marketplace ...interest rates!!!!  Thankfully mortgage interest rates have been at historic lows for quite some time now.  This has been taken for granted and with  market turmoil and the huge surplus of available housing, rising interest rates have a direct impact on the ability for many buyers to qualify for the home of there dreams.

 As a Licensed Auctioneer, we are very fortunate that the vast majority of purchasers pay cash.  This in part is due to the specific guidelines and the pre bidder registration process which includes a no contingency clause for the buyer, even financing!!!

 If rising interest rates and a over supplied sluggish market  have you second guessing when or if you can sell any time soon, you owe to yourself to consider the Auction sales method. 

Handyman special 3Bd/2Ba (1,600 SqFt). Nice neighborhood close to beach. Out of town owners   Handyman CBS home. East of US1 on quiet street minutes to the beach. 3Br/2Ba. One Bedroom has seperate entrance. Family room. Newer roof.

Close to GulfStream Park and Casino as well as the new Village at Gulf Stream Park (upscale shopping mall). The entire area is being redeveloped as a part of the citys master plan. This home is a great starter home or a wise investment.

SOLD!

  In today's stagnant economy, real estate continues to prove to be a challenge to sell in most cases. 

 Sellers are being forced to wait years to move there property and often at prices that they never imagined they would have to sell for. 

Coming to the realization of what a property may sell for vs. the asking price is the first step in determining if a seller is ready to auction.  The auction method offers so many benefits over the traditional listing/sales methods. 

 One benefit which is becoming more and more important is time and the time value of money which is locked up in idle real estate. Today's. many sellers are more motivated than ever before and buyers are scarce.  This is all the more reason to choose a creative, high impact approach to sell your property through auction. 

 I personally think the raffle approach is very creative and offers a wonderful alternative to link with a non profit as part of the sales approach. 

 I also believe that there is still a lot of awareness and confidence building needed to make this a more viable approach.  Real estate auctions have been around for decades.  They are once again becoming the preferred method for sellers who are seeking a quick and efficient method to attract multiple buyers at one time to sell your property and close with 45 days.