Posted by Mark Washburn on Saturday, June 24, 2006 at 12:11 PM By Mark Washburn / June 24, 2006 Comment
Auctions growing in popularity The depression era stigma of a real estate auction has faded from the collective memory of our nation as more homeowners are utilizing them to sell property. This Tuesday, a home in the upscale Estero neighborhood of Grandezza is being auctioned by Zionsville, Indiana-based Luxury Auction Group. The fax-based auction utilizes a bidding process like auctions on e-Bay. Auctions are a great vehicle in a booming market to drive prices upward with competitive group dynamics. Not sure that it is the right approach in a slow market, what could be worse than having an auction and have no one show up to bid? A recent Marco Island real estate auction proved to be a real bust. Home sellers turn to auctions to expedite turnover [News-Press]
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