Vacation Homes, Auction or Listing?
The decision to sell your vacation property, whether it's a lake home in Okoboji, a hunting cabin in the Loess hills, or a weekend retreat overlooking the Mississippi, is a heartfelt undertaking.
A vacation home brings joy to hearts of all ages. I remember spending time as a child walking back to a cabin in the woods my Uncle had built on my Grandfather's farm. He had wallpapered the inside with old newspapers, I'll never forget. A modified 55 gal drum for a woodstove, the place was just enough to get away for a while.
The home you may think of when someone says ‘vacation home' may be a far cry from that ramshackle cabin that my uncle had built when he was a teen, but it holds a place in your heart just the same.
A question many clients ask me when deciding to list their vacation home with me for an auction is, "When is the best time of the year to have the auction?"
I tell them, "When people are looking to buy!" That time period is roughly April to September for most of the northern United States.
The most likely buyer of any vacation property is a neighboring landowner looking to upgrade (or downsize), or someone who vacations or has friends or relatives in the area and would like to buy a home there as well. These people begin to frequent vacation spots in May. The first advertising they would see of an upcoming auction is then.
It is the opinion of the Luxuron Group that the peak season for real estate auctions of recreational properties in the Midwest is May 15-Sept 15, with advertising for every sale beginning as far ahead of the sale as possible, typically 45-90 days.
The more buyers that are aware of your auction, the more buyers that attend the auction, hoping to BUY!
Think spring.......we will all be lakeside in no time!
Regards,
Grant Schultz
Real Estate Auctioneer
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