42 closed auctions between 1/1/11-12/31/11
33 closed auctions between 1/1/12 – 6/30/12
70 closed auctions between 7/1/12 – 12/31/12
46 closed auctions between 1/1/13 – 5/19/13
Call it auction fever; call it a trend. It doesn’t matter what you call it, because numbers don’t lie, and these numbers tell a simple story:
AUCTIONS ARE BECOMING THE NEW NORM FOR REAL ESTATE ACQUISITION AND DISPOSITION.
The numbers posted above are only the properties that were listed on the MLS as “Auction” properties, and about half of them were standard, equity sales. There are many other auctioned properties in Orange County which weren’t in the MLS because several are auctioned at the court house steps and others are auctioned by our competitors who don’t list in the MLS (which is a mystery to me, but hey…their loss…shhhh). Also, lots of auction sales are listed improperly in the MLS either as “REO” or “Short Sale.”
The auction trend makes sense for the OC really: we’re in a scalding hot market right now where properties are receiving multiple bids within hours of listing which creates a silent auction wherein buyers don’t know what they need to bid to win. Apparently there are some savvy agents in my market who have recognized the need for an auction.
So don’t wait. Get on board. If you’re thinking about selling your home, office building, industrial complex, vacant land, or multi-family unit, then contact RealEstateAuctions.com today!
We have a multi-property, ballroom style auction coming up on June 29th, 2013. It’s our Northern California real estate auction and we won’t be accepting new listings after June 8th to allow proper time for marketing and preparation.
See you at the auction block…..
Blog author Jason Piazza is a Business Development Executive and Team Leader for RealEstateAuctions.com covering the North Coastal Region of Orange County, CA. For more information about how to buy or sell a property, contact Jason at 949-400-8086 or JPiazza@RealEstateAuctions.com.