      
 Foreclosed Home Auctions are Win-WinPublished: Thursday, May 07, 2009 Real estate auctions are becoming increasingly popular with buyers because they are on the level playing field with every other buyer. There are no back room negotiations that can cause a deal to slip through their fingers at the last minute and they are guaranteed to pay true market price for the home they are seeking. But buyers are not the only ones finding great deals at real estate auctions; real estate agents and sellers are also benefitting from the practice, making sure that auctions will be around for a long, long time. Sellers Guaranteed Sale at Foreclosures AuctionFor REO property division a real estate auction is a guaranteed sale. They list several pieces of inventory at a single auction and are guaranteed to clear their books of these foreclosed homes without waiting for traditional sales and negotiations. In short, foreclosed home auctions accelerate the sale and minimize long-term carrying costs such as taxes and maintenance. In addition, the competition that escalates between bidders can often reach a sale price greater than that of a negotiated sale, maximizing return for the lender. And with buyers that are almost always pre-qualified and prepared to buy, the lender is confident that escrow will close successfully. Real Estate Auctions Boon to Real Estate AgentsBuyers shop at foreclosures auctions because they can pick up a great deal on bank owned homes. Sellers rely on real estate auctions because they guarantee quick sales at market prices. But what about real estate agents? Is there anything in it for them? Absolutely! Real estate agents benefit at home auctions by gaining exposure to a large list of ready, qualified buyers. By representing homes sold at auction they are actively marketing the auction house through various media methods, drawing in greater numbers of buyers than through traditional methods. Even if the buyers don't end up buying at auction, meeting them and developing a working rapport will lead to future sales. Realtors© that work extensively with foreclosures develop a market niche that can lead to exclusive listings with the best REO property divisions. Once lenders know the agent can deliver on home auctions, they feel confident re-listing additional homes. In turn, real estate agents are comfortable knowing their listing will sell in a relatively short period of time so they pull out all the stops in marketing these homes, drawing in even more buyers. Foreclosed home auctions truly are a win-win for everyone involved. 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. |
