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Forget the Critics and Have a Real Estate Auction

With all the doom and gloom in the air it would seem like a terrible time to have a real estate auction to sell your house. Maybe, but let’s not rush to judgment until all the facts are in. Remember facts – those troublesome little nuggets of truth that sometimes get in the way of a really great news story? We’re not here to say that the media has completely gone Enquirer on us – even though they have – but merely to point out that perhaps the “housing market” isn’t standing with one foot in the grave.

The first problem…
…with most of the naysayers is that there is no such thing as a “housing market,” a shadowy, monolithic presence that causes all geographic regions everywhere to move in lockstep up or down. Housing markets are local, local, local. Is there any way in the world an intelligent person would try to compare the forces that move and drive prices in Indianapolis to those in Los Angeles? Or to similarly compare Denver to Orlando? Heck no! It makes no sense. These are completely different markets for housing and everything else. House prices might be just fine in Denver while they’re bottoming out in southern California.

The point is…
…you can’t make a blanket statement that accurately includes ALL the housing markets in the United States. It’s like saying new movies are terribly uncreative. Well, sure, some of them are, but some are quite good. To return to the point – much of the negativity generated by the press about the woeful state of the “housing market” has contributed to a widespread opinion in America that we might as well take real estate out behind the barn and put a bullet in its brain pan (to paraphrase independent presidential candidate, H. Ross Perot, from an early 1990’s campaign).

But into this maelstrom of despair…
…steps a recent article from the Financial Times alleging optimism is on the horizon for US home buyers. But how can that be? Bleak job prospects and weak consumer confidence didn’t magically go away to be sure. There are still serious issues in our economy…BUT…interviews with half a dozen realtors around the country paint a different picture. These real estate veterans with their feet on street told the Case-Shiller Index that volume of sales and prices began strengthening in April of this year, a trend which has continued to gain momentum through June. List prices rose in 24 of 26 cities tracked in May, including previous deadweight areas like Washington, San Francisco, and San Jose.

What the heck? So things aren’t as bad as we thought? In another index, this one compiled by CoreLogic, prices in more than 6,500 postal codes rose slightly in March, indicating a broader trend perhaps. This was the first increase of that extent since the homebuyer tax credit that helped prop up the market last year expired.

Makes sense to us. Our real estate auction business, Open Door Auctions, has had a busy spring to date, usually selling one or more houses each weekend, generating impressive foot traffic, and receiving dozens of bids at most stops along the way. The larger point to take away is that maybe it’s time to start thinking about selling your house again. The past few years have seen many sellers decide not to put their home on the market until their local housing showed some signs of life.

Choosing to auction your property is a great way to test the waters without risking anything or locking yourself into a long term listing agreement. From where we sit, mixed broader signals notwithstanding, it’s obvious that more buyers are coming into the market. With the Open Door Auctions innovative sales process, in two weeks hence, you could be sitting on a pile of bids, trying to decide which one to take. And this is no cut-rate bottom feeder type of sale.

Though we can handle foreclosures and short sales with ease, our professional auctions are designed for any type of property and seller, from low cost starter homes all the way up to multi-million dollar mansions. Real estate auctions have a long tradition outside of the arena of distressed homes. You might be surprised what our professional team of property professionals can do for you over the course of two short weeks.

And, ultimately, what have you got to lose if you have even an inkling of desire to sell your house? Give us that two weeks and we’ll give you a handful or more of bids by serious buyers. Take one or reject them all. After that, you owe us nothing. Don’t try this with your old-fashioned real agent. He might blow a mental gasket.

To get an idea of what types of properties we handle, browse our listings here.

The Open Door Auctions Team

 

 

 

 

 

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