Real estate auctions are
everywhere these days.
And with more and more
properties being offered
at auction, it is
imperative that you know
the ropes before
venturing into the realm
of competitive bidding.
Here are some
interesting facts about
real estate auction:
1) Not all auctions are
due to distress
situations. As a matter
of fact, the best
auction properties are
just the opposite. The
properties that do well
at auctions are the ones
that everyone wants ...
the lake lot on the
point, the corner
commercial lot in the
busy area, the mountain
house with the 360
degree view. These,
properly advertised, can
often pull more than
market.
2) Not all properties
sold at auction on the
courthouse steps are
lien free. Many
property's have liens,
such as federal tax
liens which may force
you to hold the property
for up to 90 days until
the tax issues are
resolved.
3) Most properties
can be purchased prior
to auction. The reason
you would want to do
this is simple: TERMS.
You can negotiate all
terms prior to an
auction, but the auction
itself is bound by the
terms and conditions of
the auction. If you need
special considerations,
try to make your best
deal up-front.
4) Very few real
estate auctions are
absolute. Most have a
reserve and are sold
subject to seller's
confirmation. If you are
planning to low-ball, be
aware of what kind of
auction it is and you
will avoid a lot of
wated time.
5) The auctioneer is
in charge. He or she may
pause, wait, encourage,
suggest or do anything
else to encourage more
bidding. I once paused
during an auction to
give a bidder a moment
to "think about it." The
person with the current
high bid was enraged,
saying I had to proceed
with the call. Sorry, I
work for the seller, not
the buyer, and it is MY
OBLIGATION to get the
highest bid possible.
I'll be posting more
auction tips in the
future, so please
subscribe to my Blog!
Foreclosures seem to be on everyone's mind these days. If you are a
property owner facing foreclosure you may not know which way to
turn. If you are a property buyer, there are so many buying
opportunities out there that you may have trouble deciding on how
much to offer, and which properties to purchase.
There is a time
to go it alone, and a time to seek professional advice. The market
is changing daily, and discretion is often the best part of valor.
If you are overwhelmed by the current state of affairs in the real
estate world, I strongly recommend that you immediately find someone
that you can trust to help you develop a good strategy that will
benefit you n the long run.
Wow, huge news! United Realty Group
has affiliated with the most powerful real estate marketing brand in
the world, and we are now Better Homes and Gardens Real Estate Metro Brokers.
We now have all of
the benefits of powerful National Marketing, fantastic brokerage
tools, and incredible name recognition. We will still maintain our
friendly, down-home courteous service, but now, we are able to put
all of the pop of an International brand into our real estate
enterprise.
But come see for yourself. You are cordially invited to come by
and visit our fantastic Newnan real estate facility! We look forward
to meeting you and serving your real estate needs!
Memorial Day weekend, and we are as
busy as ever. One of the interesting things about selling real
estate is that it always a good day to sell property. We received
two offers today, and many inquiries about the lots for sale at lake
West Point.
The lots at the lake are going to move quickly, they
are a red hot product!
We are still seeking land to auction
in the Metro Atlanta area. Land is usually an excellent auction
product, and auction is an excellent way to determine true market
value of land.
Many sellers have questions about auctioning land,
so I wrote an FAQ seller
page here!
Very busy today. There is a lot of
interest in West Point Lake lots as the summer heats up. We can send
a full color information package to anyone who
registers here,
Also,
we had open house at the Enclave at Durham Lakes.
We went to Thomaston Georgia today to
preview some new homes and property. Thomaston is the county seat of
Upson County, and is a fast growing community, If you are looking
for new homes in Upson
County, or need lot for building, call today!
We have a five week cycle between our
regular auction, so we had time to place a special auction in the
rotation. It's a beautiful
RV park and
resort for sale in Carroll County GA. The auction is scheduled
for April 6, 2007 but that could change soon.
I sent the following
email today regarding the Coweta County Sign Ordinance:
I think that the
original legal issue is not being addressed by any of these
suggestions. The 14th amendment of the Constitution of the
United States allows for equal protection under law. The Fayette
County court case became an equal protection issue. If you allow
any signs on the right-of-way, then you must allow all signs on
the right-of-way. There can be no legal exceptions.
The County has
already failed with respect to equal protection. The officials
charged with enforcing the law have already indicated that
different entities will be provided with varying levels of
protection under law. You can't separate churches, subdivisions,
builders, realtors, yard sales or anyone else with different
levels of enforcement. For whatever reason the county is not
concerned about the obvious exposure to litigation.
The courts have also
ruled that free speech issues can be controlled with regard to
aesthetics, you can place a conforming sign on your property
containing any speech you desire to present to the public, but
local governments can direct the size, shape, look and
construction of such notices, however, they cannot control the
speech content.
Advertising is not a
speech issue. Local governments can use zoning regulations to
control commercial advertising, such as billboards.
Everyone has their own specific
concerns, but the overriding principle should be that if anyone
is granted the right to place a sign, then so are all persons
and entities entitled to equal protection. We will be right back
where we started.
The auction is Saturday, and we are
expecting a nice crowd. Sometimes buyers are a little intimidated
with the auction process, but we try to make the process simple and
easy.
We have some good properties this month so hopefully,
someone will get a great deal!
The Real Estate Auction business is
really taking off. We will auction 16 properties next week, July 21
at the Better Homes and Gardens Real Estate Metro Brokers office in Newnan GA. We have really honed
the auction process so it works smoothly and everyone seems to have a
good time.
Hopefully we'll have a nice crowd!
It's Auction day, and we have tons of
things to do. We have many that are pre-registered so we have to
prepare for a decent amount of participants. There are legals to
double check, logistics, and everything else that you would need to
do for selling 13 properties! Good luck to us.
Got this comment today:
Your web site is too crowded with info.. tried to find some land or
house, but too much junk on site, went to someone else's.
Well, sorry if we provide too much information. Most real estate
agents don't even look at their websites, they just buy one "out of
the can!" This site is created by hand, every graphic, every image,
every word, and it is the culmination of a lot of hard work.
Also, this site is free, we don't make any money off of it ( in
fact it costs tens of thousands of dollars to keep the site
operational) so if you go to another site, who cares? OH BTW, all
you have to do is select the "Search all Listings" button and you
can search the entire GAMLS for any kind of property that interests
you!
Auction business is piling up. I try
to get all of the signs finished, but I'm having problems keeping
up. As soon as I get the signs, I'll have to print brochures for all
of the properties, and then get them delivered.
Welcome to my Blog. Seems
like every day some salesman calls me and tells me about the
importance of having a blog, and for a small fee (usually several
thousand) they will be glad to set one up for me. The fee includes
"canned" or "piped" information from some RSS feed somewhere, which
essentially is fake, not a blog at all, just a gimmick to make the
agent believe that someone will actually think that the agent has
the smarts to write something on a daily basis.
As it turns out, I
have a little experience with the Internet. My first website was
activated in 1991, and is still active, but dated. 15 years of
experience makes me an Internet old-timer! You can still visit it at
http://wyzmo.com. I also have the
number one Smoky Mountain Photo site in the world, at
http://SmokyPhotos.com which
has millions of visitors yearly.
Also, on this site, Coweta Fayette Realty, I have created
everything that you see and experience. If you like it, great, I'm
proud. If you don't like it, it's my fault, blame me. A website of
this magnitude takes thousands of hours of work, so there is plenty
of opportunity to make mistakes. I really try hard to make this site
unique and special. This site is the number one agent website in the
Southeast by traffic, according to Alexa™ rankings.
So anyway, the thought of someone else providing me with bogus
blog data seemed like it would be cheating the visitors to this
site. So I have decided that I will write my own blog, thank you
very much. I will make every attempt to update it daily, and I will
try to be entertaining and maybe even a little bit inspiring.
However, the pesky real estate business interferes with my
creative and artistic endeavors, so if I have work, why not let me
work for you! (Shameless, self-serving plug!) Its the best way to
get your property listed on this mega-site, and it just might help
you get top dollar for your listing!
It's the day before Thanksgiving, but
work is hectic at the Better Homes and Gardens Real Estate Metro Brokers real estate office as all
of the agents are trying to arrange their work schedules around the
holiday. As contractors, we don't get paid when we don't work, so it
takes careful planning to make sure that are customers and clients
are continuously served, even as we take a day to reflect and offer
thanks.
Owen, Tom and I met today to discuss how the market has
changes and evolved over the last few years, and we came to some
startling conclusions:
1) The average consumer does not understand buyer's brokerage and
the benefits offered by it, usually at no cost to the buyer.
2) The average real estate agent is not providing the level of
service needed to facilitate the buying process for the client
purchaser.
3) That by maintaining the highest level of service, bound by
contract, we would provide our clients with their best possible real
estate purchase scenario!
Although that sounds simplistic, it is not as easy as it sounds.
In exchange for commitment from us, we will ask the same of our
clients. Unless we work from a position of legal representation, we
cannot perform our job to the level that our clients deserve. So on
Monday, we will be deploying a new method of delivering the highest
quality service to those seeking our services! I can't wait.
Thanksgiving Day, 2006. As I sit
drinking my coffee in the kitchen, everyone else sleeps. I am
mindful of all of the blessings that we have here in Coweta County
Georgia, and all across America.
It would not be possible for any
of this without the efforts of the brave men and women of our armed
services. I would like to extend my personal gratitude to each and
every one of you, and I wish you Godspeed, and a safe return home
soon.
For the first time that I can remember, my daughter will not be
joining us for Thanksgiving dinner. She recently moved to
Pennsylvania and has elected an extended Christmas visit in lieu of
today's festivities. She will be missed.
However my nephew, recently moved to Kissimmee, will be joining
us for the first time. Funny how life takes twists and turns
So, I had better start making breakfast, and there is a large
dinner to prepare as well. Happy Thanksgiving to all!
Auctions take
weeks of preparation and proper marketing to get the most potential
buyers to the sale, So I'll leave the shopping for another day.
Saturday, and a rare day off. My
nephew Jason from Kissimmee is making his first visit to Atlanta, so
it's off to town for us.
We start at Turner Field, and the Olympic
Monument. We see the spot where Hank Aaron hit home run #715
breaking Babe Ruth's record. Then we go to the State Capitol, and
Underground Atlanta.
Afterwards, we trek past the Georgia Dome and Phillips Arena,
then it's the Varsity for a truly Atlanta lunch experience. We then
took a walking tour of Georgia Tech. Then off to Emory.
We see the mummies at the Carlos Museum, walk the campus and then
we head South to the airport, where we watch airplanes takeoff and
land for an hour or so.
Exhausted, it's back home for supper and college football on TV.
Time to get all of the Christmas
decorations out of the basement and on display. I got the wreathes
on the front of the house installed, hard to believer there are 18
windows to decorate. I also set up candles in each window, and
spotlights on the house. It looks great!
Inside, I got the tree up
and most of the decorations set in place. We had to refer to photos
from last year to remind ourselves of what went where. We got most
of the work done, but trimming the tree will have to wait until we
are less tired.
Somehow, in the middle of the day, I found the time to show
property and take some photos of listings.
Started working on a brochure for the
Bibb County
land auction. I also arranged for and additional auctioneer to
be present for the auction.
At lunch, I ate with the United Realty
Group gang at Chick-Filet. This is a ritual since we moved into our
new office, and is indicative of the camaraderie and team spirit
exuded buy the agents at our office.
Got the brochures addressed and
mailed, and attended one of our free training classes at United
Realty Group. Spent some time working on the website, and had
several customers call about listings.
Looks like the Auction
should be successful, we are now planning a regular real estate
auction on the third Saturday of every month at the United Realty
Group office.
It's crunch time on the
Bibb County
land auction. I sent an email to all of the MLS agents today,
advising on the auction on Saturday, December 9. Although auction
seems to be a simple, straightforward process, there are many steps
which must be taken to guarantee a successful auction.
I have
scheduled the helpers, and advised all of the Better Homes and Gardens Real Estate Metro Brokers
agents to be aware that the office will be in use for that time. I
have contacted the land owners and briefed them on what to expect!
Now come the full court press!
Got the last of the
Bibb County
land auction brochures out today, and we already have had a
significant response. I have two offers coming in on the land,
hopefully to sell prior to auction.
One of the best things about
auction, is that it creates a sense of urgency on behalf of the
buyers. Sine the time frame for sale is definite, there cannot be
any indecision or fence sitting. Many times in auction, the property
is sold prior to the auction itself. It's a great way to instantly
stimulate interest in a property.
Owen has been working hard finalizing
two lease/purchase contracts at Rocky Creek in
Pike County. We still
have homes available for lease purchase in Henry County Georgia. We
really do try very hard to work with clients with special
requirements, such as those that are in the process of repairing
their credit, or have a home to sell, or have a particular situation
that is not conducive to a purchase right at this moment.
It
surprises me that a lot of people with credit issues don't even try
to purchase a house. They don't realize that in many cases, there
are loan programs that will allow them to purchase NOW, and since we
are in a buyer's market, sellers are often willing to be flexible
with closing costs and possible down payment assistance.
Saturday is a regular workday in the
real estate business. We have properties to show and business to
catch up on. Business is picking up prior to the end of the year,
It is still possible to get your dream home in time for Christmas,
but time is running short!
I manage to sneak a round of golf in
this Sunday morning at Flat Creek, but the afternoon brings the
usual demands of the real estate business, as the website needs to
be updated, and all of the end of November listing expirations must
be dealt with.
We are in the final countdown for the
Bibb County
land auction. We are negotiating some contracts, but it looks
like the auction is on! I still have to get some directional signs
ordered, prepare the contracts, create a PowerPoint presentation,
and line up the helpers for Saturday.
In addition, our
conventional real estate business has really picked up, so it will
be long hours and working well into the night for the rest of the
week for us!
I got up at 5 A.M. to get started on
final preparations for the
Bibb County
land auction. It's going to be close, but it looks like we'll
manage to get everything done in time.
In the meantime, we are
working lots of buyers, so time is precious. I hope to finish by 8
P.M. tonight but right now, that seems iffy!
You would expect things would be
winding down for the holidays, but business is really picking up. We
are working with a lot of buyers amidst our preparations for the
auction.
Pearl Harbor Day. Didn't notice any
kind of mention of this fact on the news. Seems like the importance
of historic significant events is dwindling as time goes on. Makes
me think of the quote "those who fail to learn from history are
doomed to repeat it!"
The auction is tomorrow, I have picked
up the signs and balloons, but am still running behind on some
preparations. I have to finish the PowerPoint presentation, some of
the paper packages still need to be assembled, and some last minute
negotiations are taking place.
The day of auction was finally here,
and we had several call-in bids, but were not able to meet the
reserve amount. That being said, the auction was very successful
because several potential buyers are taking a good, hard look at the
property. I am certain that this property will move soon!
Sunday, a day of rest, sort of. I have
to catch up on a lot of Internet stuff, and make plans to contact
buyers about auction.
Eureka, I have just conceived a brand new
auction plan that is second to none. I can't wait to tell Owen and
Tom. If all goes right, I can have this program available by week's
end!
Two weeks until Christmas, and the new
auction plan is conceived. We will auction any property in Georgia
for $495.00, and keep auctioning it until it sells. Not a web
auction, but a real live auction with a real live auctioneer!!! (ME)
I can't believe the positive response
that I am getting for my new auction plan. It will be on the third
Saturday of every month, right here at Better Homes and Gardens Real Estate Metro Brokers.
I have
to present it at the weekly sales meeting tomorrow, as it will be
the last one of the year. I have lots to do to prepare.
I really don't get enough time to
properly sell the auction to the agents. This will be the last sales
meeting of the year as Christmas is just around the corner.
I
attended a few open houses today, but the January 20 Auction is on
my mind!
I listed nearly 35 acres in Carrollton
today, to be placed in the January 20 auction. It's a great piece of
property with a nice little rental house on it, super property that
is sure to get attention!
It's the day of the company Christmas
party, and I am really looking forward to attending. I go home early
to change and pick up the wife, and my covered dish, Italian
sausage.
I made the sausage at 4 A.M. this morning, in a homemade
sauce that simmered for two hours. After marinating the sausage in
the sauce all day, a warm-up in the oven, and its off to the party.
We all had a great time at the party, but its not unusual for the
URG group to get together. We frequently go out to lunch in a large
group, and we are like a large and extended family.
Saturday, and it's off to the office
to catch up on a few things! I need to see a client about a new
listing in Clem. Georgia. It's a super large house that needs a
little TLC, but someone is getting a bargain.
I get the listing
and soon, I'll get the property online!
My daughter arrives from Philadelphia in the evening, and we
spend some time together talking and catching up.
Sunday should be a day of rest, but I
have a lot of work to catch up on, so I'll keep the laptop on as I
watch a game or two. My daughter is content to read and chat, and we
spend a nice quiet Sunday at home.
I can't believe that Christmas is just
a week away. My daughter is off to visit friends, and I'm off to the
office to work. Real estate is a lot of paperwork, and quite a bit
of follow-up is required.
I feel the stress starting to accumulate
as work begins to be backlogged, and we are running behind on
housekeeping items.
Notice: This Weblog is for
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legal, financial or investment advice, or any other advice that should
be relied upon by the reader. When you are seeking advice for any matter
of importance, please contact an appropriate professional.
* All short sales are subject to third party
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permission of Coweta Fayette Real Estate Inc. Copyright 2003-2013. Coweta
Fayette Real Estate, Inc is an associate broker at Better Homes and Gardens Real
Estate Metro Brokers in Newnan Georgia. , Peachtree City - Newnan Georgia.
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