With a pause settling into the real estate market in Jacksonville and St Augustine, a growing number of sellers are looking for alternatives to selling their homes beyond the traditional methods. Selling a home or property by auction is quickly gaining acceptance in the local market place. While homes and properties have always been sold by auction, it was typically thought of as a method of disposing of foreclosed properties, commerical properties, estate properties and one of a kind properties. That is all changing rapidly as inventories of unsold homes are growing and the number of qualified and active buyers has declined due to higher mortgage interest rates and investors leaving the market.
Nationwide, residential real estate auctions grew by 4.4% during the first six months of 2006 up from 4.1% during the same period in 2005. Growth has been spurred by a number of factors including more estate related residential property sales, investors with variable rate mortgages looking to cash out quickly and a ever increasing number of homeowners looking to sell their homes quickly and move on to their next destination.
If you would like more information on upcoming real estate auctions in St Augustine or Jacksonville, please complete the form below and we will be happy to contact you. Let us know if you have interest in attending an auction to buy or would like additional information on the advantages of selling your home by the auction methods.
