      
 Are Online Real Estate Auctions For Real?Published: Thursday, April 02, 2009 Say the word "real estate auction" and people think fast paced bidding, quick talking auctioneers in large white tents and great bargains on some of the area's best foreclosures. While those are certainly characteristics of many home auctions, the truth is that some reputable auction companies conduct online real estate auctions as well. Conducted much the same as in person auction events, these auctions are held throughout the country and can accommodate more properties per "auction day" than in person auctions, and the bidding generally lasts up to a week rather than just one day. The Real Estate Disposition Company (REDC), one of the nation's largest real estate auction houses for bank owned properties and foreclosure auctions, conducts many online auctions each year. Currently in Southern California they are previewing homes for an online auction where bidding starts April 17th. Benefits to an Online AuctionAnyone who has ever bid for an item on eBay will understand the benefits of an online real estate auction. You can set your maximum bid in advance and have the computer automatically bid up to your maximum. You can bid from the comfort of your own home, without the sometimes nervous pressure of being in the same room with other bidders. You are registered and pre-qualified, so bidding and closing the deal is easier. Finally, you have the opportunity to inspect the property, just the same as with an in person auction and can have all your assurances well in advance of the auction, allowing you to bid with confidence. Auctions Still a Top Choice for Foreclosures SalesMore banks are turning to real estate auctions to liquidate their bank owned properties and reduce the number of foreclosures they carry as inventory. Large numbers of REOs can be sold at one time and a large audience of qualified buyers guarantees that most homes on the auction block will be sold by the end of the day. But that is not to say that agent listed foreclosures are going away any time soon, particularly in areas where foreclosure activity was highest. Murrieta foreclosures are still ranking higher than any other community in the country, and San Diego foreclosures remain a top choice for Generation Y buyers looking for urban housing close to the beach. Don't let the novelty of online auctions stop you from bidding on quality foreclosure listings. Take the time to register, view the properties for sale, inspect any you are seriously considering and happy bidding! Other Recent ArticlesHome Buyer Tax Credit Extended Until April, 2010Category: Recent Articles Published: Thursday, December 10, 2009 The federal tax credit has been extended to April, 2010, including an expanded benefit to existing home owners who sell their homes and then repurchase a new primary residence valued at $800,000 or less. This could be the perfect opportunity for buyers who wanted to cash in on home auction bargains but were fearful of lower resales on their existing homes. 57,000 Foreclosures Remain in California – Lenders Scheduling More Home AuctionsCategory: Recent Articles Published: Thursday, December 03, 2009 The Southern California foreclosures market may be shifting, with fewer homes entering foreclosure than in previous quarters. However there are still 57,000 existing foreclosures statewide that need to be sold, and lenders are looking at foreclosed home auctions as a major tool to sell large numbers of foreclosures in a short amount of time. Southern California Foreclosures Still the Bulk of Home SalesCategory: Recent Articles Published: Friday, November 27, 2009 Southern California foreclosures still account for the bulk of area homes sales and lenders are finding real estate auctions the fastest and most efficient method of clearing their books of REO properties. Buying a home at auction requires a little prep work, however and the experts at homeauctionexpo.com share their insight on how to find the best auction properties. |
