Real Estate Auctions Offer Faster Sale, Often Higher Price!

Welcome to the world of real estate auctions!

"It is a popular trend in other parts of the country where high-end resorts, farms, and undeveloped land attract bidders on a big scale. But Maine's real estate buyers and sellers have, until recently, relied on traditional broker relationships. Real estate auctions were equated with bank foreclosures and distressed properties.

Auctions appeal to people frustrated with properties that have not sold, someone relocating who needs a new home fast, an heir who inherited a house but doesn't want the hassle of maintaining it or a developer who wants a buy-fix-and-sell.

Real estate was one of the most active live-auction categories across the country, according to the National Auctioneers Association.

Residential real estate auction sales in the country showed an increase of 8.4 percent over last year, up to $51.2 million. Land and agricultural real estate auction sales grew 7 percent and commercial real estate auction sales increased by 4.9 percent." ...read more

Copyright © 2006, Kennebec Journal, Augusta, Maine

Distributed by Knight Ridder/Tribune Business News