SnyderShrugged Posted December 12, 2008 Share Posted December 12, 2008 Hey folks, We have heard recently that selling a home via an auction could be a viable alternative to liting with a real estate agent. Has anyone here had any experience with it? would you suggest it? Link to comment Share on other sites More sharing options...
SnyderShrugged Posted December 12, 2008 Author Share Posted December 12, 2008 anyone at all? Link to comment Share on other sites More sharing options...
SC_RedskinsFan Posted December 12, 2008 Share Posted December 12, 2008 I have went to a few of them. Your house needs to be priced a little low to get any action going on it. Link to comment Share on other sites More sharing options...
SnyderShrugged Posted December 12, 2008 Author Share Posted December 12, 2008 I have went to a few of them. Your house needs to be priced a little low to get any action going on it. Thats a part that worries me. Do they normally accept a "floor" price setting and then work up? Most of what I've seen were for forclosures, but we arent really in that bind. Just want to try and get a quick sale as part of a relo. Link to comment Share on other sites More sharing options...
SC_RedskinsFan Posted December 12, 2008 Share Posted December 12, 2008 If the house looks great and is advertised a bunch it should go. They start the bidding wherever but you have a reserve. I would say you can sell it if you are not trying to be greedy. Remember the faster you sell it you are saving money on those payments, insurance, and other expenses. If your price is to high it will cost you more payments etc. Link to comment Share on other sites More sharing options...
SnyderShrugged Posted December 12, 2008 Author Share Posted December 12, 2008 If the house looks great and is advertised a bunch it should go. They start the bidding wherever but you have a reserve. I would say you can sell it if you are not trying to be greedy. Remember the faster you sell it you are saving money on those payments, insurance, and other expenses. If your price is to high it will cost you more payments etc. We're in a pretty good equity position and only want to make back what we paid. The house is in great shape, in the best school district in the area and is on a double lot (for our neighborhood). Thanks for the info. Maybe it really is an option then. groovy! Link to comment Share on other sites More sharing options...
SC_RedskinsFan Posted December 12, 2008 Share Posted December 12, 2008 You should talk to a few auctioneers to see what % they are gonna take also. Good luck. Link to comment Share on other sites More sharing options...
SnyderShrugged Posted December 12, 2008 Author Share Posted December 12, 2008 You should talk to a few auctioneers to see what % they are gonna take also. Good luck. thanks! do you know an avg % that is typical by chance? Link to comment Share on other sites More sharing options...
SC_RedskinsFan Posted December 12, 2008 Share Posted December 12, 2008 No i don't. I would think around 6% or so. But that is a guess. Link to comment Share on other sites More sharing options...
Burgold Posted December 12, 2008 Share Posted December 12, 2008 Hard to say what Kentucky would be like versus other areas. Around here, you can set your floor, but as I discovered in the NPR real estate piece. DC real estate is somewhat of a different animal than in other areas of the country. Government's not in any danger of being downsized or going out of business and there's a good ammount of affluence around these parts. What I would do is go to an auction or two and get the feel for how they operate and interview one of the auction houses to see if you like their scheme. Link to comment Share on other sites More sharing options...
SnyderShrugged Posted December 12, 2008 Author Share Posted December 12, 2008 Hard to say what Kentucky would be like versus other areas. Around here, you can set your floor, but as I discovered in the NPR real estate piece. DC real estate is somewhat of a different animal than in other areas of the country. Government's not in any danger of being downsized or going out of business and there's a good ammount of affluence around these parts.What I would do is go to an auction or two and get the feel for how they operate and interview one of the auction houses to see if you like their scheme. Good advice Burg. Thanks! I'm a little lucky that the housing market isnt too bad here, probably not as good as DC, but it hasnt declined nearly as bad as other areas. Link to comment Share on other sites More sharing options...
Burgold Posted December 12, 2008 Share Posted December 12, 2008 Also, if you can wait a year that would probably help a lot. According to Stephen Fuller (who's one of the nation's best at knowing this kind of stuff or so I've been lead to believe by both NAR and NPR) The DC real estate market is going to be headed for a turnaround in Spring of 09 in part due to the transtion, but mostly due to demand and scarsity of housing. He thinks that DC will lead in this regards, but says all the trends and past history lead him to believe that the country in general will be heading back up in 10. Mind you, predictions can go astray, but he says given demand, scarsity, and the money sitting on the sidelines, he's pretty sure that we've hit a bottom and will slowly rebound starting locally (in DC in 09) and nationally by early to mid 2010 Actually, if you are selling... listening today's feature might be useful for you. http://wamu.org/audio/mc/08/12/m1081212-24183.asx Link to comment Share on other sites More sharing options...
SnyderShrugged Posted December 12, 2008 Author Share Posted December 12, 2008 Also, if you can wait a year that would probably help a lot.According to Stephen Fuller (who's one of the nation's best at knowing this kind of stuff or so I've been lead to believe by both NAR and NPR) The DC real estate market is going to be headed for a turnaround in Spring of 09 in part due to the transtion, but mostly due to demand and scarsity of housing. He thinks that DC will lead in this regards, but says all the trends and past history lead him to believe that the country in general will be heading back up in 10. Mind you, predictions can go astray, but he says given demand, scarsity, and the money sitting on the sidelines, he's pretty sure that we've hit a bottom and will slowly rebound starting locally (in DC in 09) and nationally by early to mid 2010 Actually, if you are selling... listening today's feature might be useful for you. http://wamu.org/audio/mc/08/12/m1081212-24183.asx thanks again! I'll give it a listen later tonight. I wish I could wait, but I will have to be apart from my wife and little girls for as long as it takes to sell, so time is a factor now. Link to comment Share on other sites More sharing options...
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