Property Auction Blog

Lots of lots. That’s the name of the game we’ve noticed this summer. Given market conditions residential building lots are selling at tremendous discounts from coast to coast.

Hamele Auction Service is offering several lots in Wisconsin that are perfect for log homes. The upcoming auction event will take place in early September. The sale will be conducted as “multi-parcel auction” event-”whichever parcel combination obtains the highest price is the way the lot(s) will be written to Offer to Purchase”.

Tranzon Alderfer will also be offering several lots as well as new condominiums and much more in an upcoming “Builder’s Closeout Spectacular” auction event to be held in Pennsylvania. To entice buyers even further the auction firm is offering several properties at absolute auction.

Lots of lots on the block this summer is creating opportunities for buyers looking to build or just land bank until the market turns.

We’re starting to see a lot of volume coming out of the “online only” real estate auction companies. One in particular is Bid4homes.com, a new initiative launched by the folks at Bid4assets.com focused on the residential real estate market. The latest offering is 27 single family homes offered at absolute auction. The homes are scattered across the country but the key to their success may be that the auction house already has a major following on the internet having been in the business for almost a decade.

Some offline companies or as we like to call them “on the ground auctioneers” have added online auction components to compete. (Be advised that we are talking about timed auctions, and not live streaming auctions that require a whole separate post to blog about.) We think the trend will gravitate towards both, an online auction for one situation and an on the ground auction for another situation or even a hybrid of both. With the volume of residential property still to come all auction companies will be extremely busy trying to come up with innovative ways to sell and keep the clients happy.