Home Security Monitoring Systems
By Milos Pesic
When selecting a home security system you have the choice of opting for a simple home security system or a private monitored home security system. While monitored home security systems are Read more...
Pros and Cons of Owning a Work Based from Home Business
By Shannon Kietzman
A work based from home business is one that you can do entirely from the comforts of your own home. As the owner of a work based from home business, you are responsible for all aspects of the Read more...
Incredible Home Based Business Income Opportunities Not To Be Missed
By Calvin Heng
If you are looking for a proven way to attain financial freedom, then this article will be of the utmost importance to you. There are many home based business income opportunities on the net today. Read more...
Upon exploring a planet Dr. Rodney McKay discovers that the Stargate draws its energy from the atmosphere, and believes that this would be enough energy to power up a wormhole to Earth. After consulting Weir, the team decides to dismantle the control crystal in Atlantis and transport it to the planet in order to dial a eight chevron to the Milky Way galaxy. ...
Home Buyers Boot Camp real estate listings buyers guides - your comprehensive full house resource.
Below, you'll find extensive information
on leading full house articles and products to help you on your
way to success.
Slowing Housing Market Begs The Return of the Home Auction
By Joe Lane
With the housing market starting to slow up a bit in some areas of the country, sellers are using more tools at their disposal than ever to get a house sold in a timely fashion. While these methods vary greatly by region, nationally there has been a rise in the amount of real estate auctions seen. Naturally, auctions are not a new phenomenon, but to see them increasingly used as a primary tool in selling real estate is.
The potential pitfalls are many in the auction business and while it is certainly one of the quickest ways to liquidate a home, it is often wrought with a great deal of uncertainty. What if your doesn’t sell for the price you were looking for? What if the auction fees take out such a hunk of the selling price that you see little profit? These are key questions to not only ask yourself but to brace for if you pursue the auction as a selling method.
The uncertainty is compounded by the selling slow down that has precipitated these extra auctions. As fewer homes are sold in a particular area, it becomes harder to peg down a selling price for your based on comparable listings. If there simply aren’t enough comparable listings to form a solid case, the true value of your can be hard to determine. That can leave a fair amount of guessing to be done when it comes down to an auction and estimating a final sale price.
Those sellers that hold speed as a primary goal during their sale will see the auctions as perhaps the greatest way to perhaps sacrifice some sale price
but gain a great amount of speed. Real estate owners that have found their homes too expensive to maintain or who have to leave quickly due to job relocation or another life event might see the speed as a welcome benefit of the process. Auctions eliminate the steps of a selling process that some sellers see as tedious or slow.
Auctioned homes also avoid the sorts of hurdles that conventionally-sold homes may face such as financing contingencies. Auctions demand a cash payment, weeding out some of the effort typically used to separate the financially-sound contract offer from one that may not be as tenable.
Sellers need not worry about the sale status of a prospective buyer’s current home, for example, and can instead feel assured that whatever day they decide for a auction will be the final sale date of that property. That can be a great comfort and puts the pace of the transaction squarely under the control of the seller.
Of course, the drawbacks scare most consumers away from the prospect of a real estate auction. Sometimes, prospective buyers will equate the words auction and discount, giving them the impression that bidding should fall below the market price. If that is the case, bidders will simply stop bidding before the reaches what they believe to be that market price, perhaps robbing the seller of a bit of the value of the home.
Additionally, fees on auctions can be steep and while consumers avoid real estate agent fees that would normally take place, they will typically pay a bigger fee to have the auctioned off. The difference between those two percentage points could tell you a great deal about the validity of pursuing a auction option.
If the real estate market in your area has slowed at any significant rate, auctions are perhaps something you’ll want to look in to, but only if you are prepared to sacrifice at least some of your home’s potential sale value for the benefit of a quick sale on your schedule.
Published by Joe and Colleen Lane, Realtors®. The Lane Real Estate Team services Tri City Wa Real Estate, Kennewick Wa Real Estate, Pasco Wa Real Estate, Richland Wa Real Estate, and surrounding Southeastern Washington Communities. Here is more information : www.joelane.com/
We strive to provide only quality articles, so
if there is a specific topic related to home that
you would like us to cover, please contact us at any time.
And again, thank you to those contributing daily
to our full house website.