Depending on where you live, you may not have heard about a lot of real estate auctions. In many areas of the Midsouth though real estate auctions are becoming a more desirable and frequently chosen method of sale for certain kinds of properties. 10-15 years ago if you saw a sign for an auction you automatically thought that it would be for a foreclosure or distressed property sale. That is simply not the case anymore.
Real estate auctions happen with many different types of properties.
- Single Family Residential Homes
- Lake and Vacation Properties
- Upscale Homes
- Unique Properties
- Commercial Properties
The National Auctioneers Association reports tremendous growth for the auction industry in 2006 - 7.1% increase from the previous year with total revenues of $257.2 billion. The largest area of growth was in residential real estate auctions with 12.5% increase in 2006 for $16 billion in sales.
So if you're in the South, stop by one of the Crye-Leike Auctions. Check for upcoming real estate auctions here. Often auctions are like a community gathering. You never know who you'll see at an auction!
From the desk of Tim Brewer, Crye-Leike Auctioneer in Middle Tennessee