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Buyers and Bidders: are they coming out to play ??

By Linda Staples Terry

Services for Real Estate Pros with Tranzon Fox Auctions

January 19, 2009 06:40 AM

OK, so... we will have a new President tomorow.... is this cataclysmic event going to bring out the buyers? We had successful auctions in September and October and thought we had turned the corner where sellers were realistic and buyers were thinking the market was hitting bottom.... but that was before Wall St crashed and the banks tripped on their own bad loans.

A week from tomorrow are my first auctions since Christmas... and turnout/results will be a bellweather for 2009 -- let's see what happens! One property is in the low to mid $200k's and the other is mid $400's. Good ad hooks for both-- one is selling without minimum or reserve and the other is a bankruptcy in a great neighborhood so it will be interesting!

I would be interested in hearing from other auctioneers/agents about their views on buyer interest/readiness. What's happening out there? Are loans available? Is everyone refinancing?

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Team Honeycutt

Allen Tate - Concord, NC

I hope they are all ready to play! I think its about time for this market to turn around!

Jan 19, 2009 06:51 AM

Charles Stallions

Charles Stallions Real Estate Services - Pensacola, FL

850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.

All we can do is think positive and hope for change of the kind promised. I am will to give anyone or anything at this point a chance.

With a Democratic President, Congress and no way for the Republicans to counter, filibuster or vote no the Dems can do anything so it ought to be a quick turnaround. I mean they could vote for no foreclosures and pump trillions into the economy, they now have that kind of control so lets see it.

Jan 19, 2009 07:04 AM

Sergio Rebollo Jr.

Real Estate TeamMates - Miami, FL

Linda....In Miami we've seen lots of investors coming out to play. Hopefully the playground will continue to attract others!!! On a separate note, welcome to ActiveRain. This is a great community to network with others as well a great place to learn from other's experiences and knowledge. I've enjoyed it; I hope you enjoy it as well.

Sergio Rebollo Jr.
Exit Prime Realty
Coral Gables, FL 33134
305-582-4062

Miami Short Sale Specialist - Profile

Jan 19, 2009 11:57 AM

Jason Ellis

Coastal REO Solutions - Myrtle Beach Short Sales & REO's - Myrtle Beach, SC

Great start to AR and the New Year -- Best of luck in 2009!! JE

Jan 19, 2009 02:25 PM

Linda Staples Terry

Tranzon Fox Auctions - Richmond, VA

the most graphic recent stat I have in the Richmond VA area is for a property that I did a foreclosure avoidance auction on last Feb, 2008. We had 12 bidders and got $868,500 for the property which was great results. There was a first mortgage of $800K and a 2nd of $400K... neither bank would even talk to us when we submitted this short sale offer which was all cash, as is, close in 30 days and had a non refundable deposit of $102,000 !!!

fast forward to the week of Christmas when I was asked to try for offers again on this same house. We had 5 people interested and ended up with a contract for $615,000. And now the first noteholder (2nd is gone-- primary lienholder foreclosed) is considering taking it. I have seen this time and time again where offers made a year ago were rebuffed by sellers who now would give anything to have those buyers back!

Truly interesting times.

Jan 19, 2009 10:53 PM

Morris Childs

PEP source - Spartanburg, SC

Welcome to Active Rain. It just gets easier after your first blog. Just write about what interests you. Give us a call or an email if we can be of service to you! We can fix most anything, our rates are reasonable and we show up when promised.

Jan 20, 2009 04:28 AM

Jean Terry

Keller Williams Realty Spartanburg, S.C. - Spartanburg, SC

Hi and welcome to Active Rain, a great site to network, share, learn, and have fun. Good Luck.

Jan 20, 2009 09:43 AM

Anna Ryan

Keller Williams Realty - Simpsonville, SC

Welcome to AR. Jump in and get your feet wet!

Anna

Jan 20, 2009 02:49 PM

Everard Korthals

---Preferred Lifestyle Advisors--- - Lancaster, PA

Mountain Realty

Welcome! If ever you were to have any questions then feel free to contact us and we'll try to help. Please take a look at our blog. for links to valuable information in our sidebar that you can use to navigate this extensive network.

We hope you have a great day, All The Best-

Sincerely, ( Castellum Realty llc - Lancaster PA Real Estate )

Jan 20, 2009 04:04 PM

Buyers and Bidders: are they coming out to play ??

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