Who says the homebuyers and investors are sitting on the sidelines? This weekend, Hudson & Marshall came to town to auctions hundreds of homes with most selling absolute! The deals were a pretty with Friday being the day with the sweetest deals. My newest client flew in and picked up four great buys. The 2600 sq/ft duplex built in 2005, has 3 beds & 2.5 baths. The 18 X 13 master boast a fireplace, huge bath with separate shower. The living room overlooks the lower level family room which also has a fireplace. My client purchased all this for the auction price of 105K plus the buyer's premium of 3% for a total of $108,150.
Saturday, word must have trickled into the investor sphere, because bidders started coming out of the floors and walls! They had to move the auction to another room to handle the increased volume of buyers. Literally, people were standing around the walls as the auctioneer verbally induced you raise your hand, wave a bid card or just holler out your bid. It was great to see the excitement as buyers envisioned the profits reaped in a down economy buyer's market.
It was apparent that the auctioneers were at a significant disadvantage. They had a huge inventory of homes and though the crowd was big, they were stingy. Most came prepared with properties already identified and maximum bid amount firmly established. At one point, an angry bidder stormed past the high bidder scolding em’ for bidding higher than pre-auction MLS list price. Obviously, the high-bidder was an owner occupant and not an auction regular.
Saturday, word must have trickled into the investor sphere, because bidders started coming out of the floors and walls! They had to move the auction to another room to handle the increased volume of buyers. Literally, people were standing around the walls as the auctioneer verbally induced you raise your hand, wave a bid card or just holler out your bid. It was great to see the excitement as buyers envisioned the profits reaped in a down economy buyer's market.
It was apparent that the auctioneers were at a significant disadvantage. They had a huge inventory of homes and though the crowd was big, they were stingy. Most came prepared with properties already identified and maximum bid amount firmly established. At one point, an angry bidder stormed past the high bidder scolding em’ for bidding higher than pre-auction MLS list price. Obviously, the high-bidder was an owner occupant and not an auction regular.
Below is a snap shot of Sunday's auction results:
Friday & Saturday had better deals!!! The early bird sometimes gets the juicy morning worm!!!
0 comments:
Post a Comment
Note: Only a member of this blog may post a comment.