Having been in the New Home Sales arena for the past 4 years and now back in the Resale or General Real Estate business.... I saw something very interesting today. A new home builder has decided to Auction off standing inventory..So, for the next few weeks they are going to do previews and then at the end of the month everyone is going to a big resort in the Phoenix area for the auction day! Seems like a good way to build energy...speaking of energy...what I see is that they are coming in with low reserves and then counting on the auction frenzy to drive the price up...multiple offers...buyers outbidding each other. Sellers should take note of this...price your property with an energy number and then wait for the multiple offers to come in!
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Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News
It has happened here more than once. The priced them low and got above the book price but no where near as much as they had been when they first went on the market.
Feb 09, 2008 11:37 AM
Coldwell Banker United, Realtor - The Woodlands, TX
Real Estate At Its Finest!!!
I've noticed that auction frenzy bids up all items higher than normal sales price.
Feb 09, 2008 12:18 PM
Connect Video Tours - Bourbonnais, IL
Craig, welcome to Active Rain, Auctions seem to be a good way to attract homebuyers when conventional ways are not working so well.
Feb 09, 2008 03:40 PM
Rainer
62,231
62,231
Craig Bennett
Designated Broker, SFR, CDPE
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almost 14 years ago
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