Real Estate Auctions now more even more helpful with new Condo loan rules

Having spent several years working helping  sellers/buyers understand the multiple benefits of a well managed real estate auction,  I have learned that some sellers whether they be individuals, developers or financial institutions cannot get beyond a  stigma that this is a negative sale

Real estate auctions have been a very successful medium for selling property throughout the U.S. and many parts of the world for many, many decades.  Some areas of the U.S. are much more comfortable with the auction process and view it as a very viable option when they are considering the sale of their property.

When it comes to South Florida, in my opinion much skepticism remains and many walls need to be broken down in educating the public regarding the multiple benefits that auctions can offer.

As if the condo market was not already filled with enough challenges, new guidelines from Fannie Mae have just made it significantly more difficult for buyers and sellers alike to finance the sale of a condo unit.  The new guidelines are mentioned in Sunday's Miami Herald (04/12/09), beginning on the front page.  It  is no secret that many of South Florida's condos will not meet the guidelines to qualify for these tougher new rules and only serves to add one more nail in the coffin for sellers and developers alike to add one more set of restrictions to an already struggling market. To quote Peter Zalewski, President of Condo Vultures.com "There is no question developers are discounting so dramatically because it is virtually impossible to obtain Fannie certification," Zalewski said

I think it is even more critical, now than ever before to help sellers  and developers  in particular recognize what  can auctions offer. By having the opportunity to finally be free of properties that may be slowly deteriorating both financially and in some cases structurally, as they sit month after month and in many cases year after year with not even an offer can be an unbearably stressful.  I could go on and on about this topic and hope that anyone who has the slightest interest in the auction process will  visit my web site to learn more about the benefits of attracting qualified buyers and selling properties in 45 days or less through the auction process.  The site includes a brief video that covers the general topics one needs to understand about an auction.  The site address is www.auction-generation.com

Our end my article with our companies mission statement, Take Action, Choose Auction!!

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