On Oct. 23, 2008 I wrote the blog below. I wrote this blog in the midst of all the bank problems, real estate collapses, etc. Here we are less than 6 months from that blog and most of what I predicted appears to be happening. Wells Fargo posted a 3 Billion dollar profit in the first quarter, last week and over the past two weeks all the major stock indices are up dramatically. I also predicted that the real estate market would start its turn around by the end of this year. By the way in early 2004 I predicted that the real estate market would collapse in about two years. That's why I went into the real estate auction business. I am not a brilliant person I just have a feel for what will happen, because I have been there before. Stay tuned the best is yet to come.
"The End Must Be Near, Because I Can You See The Light?
Over the last 10 years we have seen all kinds of bubbles pop. First it was the stock market then it was the real estate markets, and then came the bank problems and now we are in a commodities market melt down. Which means lower oil, gasoline and natural gas that is not a bad thing.
This same cycle happened in the late 1960's into the early1970's and again in the late 80's into the 90's. I if am correct and it is simply a cycle that must run itself out, we should start to see the stock market begin to turn around in the next couple of months, followed by the bank recovery. Then real estate residential markets towards latter part of 2009 followed a few months later by the commercial real estate market.
History always seems to repeat it self. So, don't panic and if you look closely maybe you too can see that there is a light at the end of this tunnel."
Bob Calistri, Broker
Real Estate Auctions, llc
www.realestateauctionsllc.com
bob@realestateauctionsllc.com
If You Have A Property That Just Won't Sell In Florida Auction It and Get 3%
Most Realtors don't know that if they have a listed property that they don't seem to be able to sell they can refer it for auction and they will receive a commission of 3% of the highest accepted bid at the auction. That's the way most auction companies work it, The listing and buyer's agents commissions are paid from the buyer's premium. The standard buyer's premium is usually 10%. So, a listing agent can receive 3% just for referring the property and if by chance after the referral they represent a buyer for the property the agent will still get the additional 3% for the buyer's side. The best part is the seller doesn't pay the commission. Especially good because most sellers have lost a lot of their equity in today's market.
Bob Calistri, Broker
Real estate Auctions, llc.
www.realestateauctionsllc.com
bob@realestateauctionsllc.com
REAL ESTATE AUCTIONS BENEFITS TO THE SELLER:
* Buyers come prepared to buy
* Quick disposal reduces long-term carrying costs, including taxes & maintenance
* Assurance that property will be sold at true market value
* Exposes the property to a large number of pre-qualified prospects
* Accelerates the sale
* If your property is listed, have your Realtor call us and we take care of the details
* Creates competition among buyers - auction price can exceed the price of a negotiated sale
* Requires potential buyers to pre-qualify for financing
* The seller knows exactly when the property will sell
* Eliminates numerous and unscheduled showings
* Takes the seller out of the negotiation process
* Ensures an aggressive marketing program that increases interest and visibility
REAL ESTATE AUCTIONS BENEFITS TO THE BUYER:
* Smart investments are made as properties are usually purchased at fair market value through competitive bidding
* The buyer knows the seller is committed to sell
* In multi-property auctions the buyer sees many offerings in the same place at the same time
* Buyers determine the purchase price
* Auctions eliminate long negotiation periods
* Auctions reduce time to purchase property
* Purchasing and closing dates are known
* Buyers know they are competing fairly and on the same terms as all other buyers
* Buyers receive comprehensive information on property via due diligence packet
Bob Calistri, Broker
Real Estate Auctions, llc
www.realestateauctionsllc.com
Here's how the auction process works. All properties sold at auction are sold "as is, where is" with no contingencies and the closing usually occurs within 30 days of the auction.
The first thing is to determine if the property is a good candidate for the auction process. We do this by looking at comparables sales over the past two months and the tax records. The process is used to advise the seller of a reserve price which has the highest probability of selling their property.
Next, we select an auction method. An absolute auction does not set a minimum or reserve amount, allowing the property to be sold at the highest bid no matter the amount. This could be above or below the price owners hoped to receive. A reserve auction sets a minimum the seller wants and allows owners to accept or reject the final bid should it fall below the seller's expectation. These auctions start at a minimum amount, which may or may not be disclosed to the public before the auction day. The reserve auction is the method we usually advise.
In all cases the buyer pays a 10% buyers premium on the sale in a real estate auction. The seller does pay in advance for the advertising which includes major local newspapers, and anything used specify for their property sale. We usually run advertising in local newspapers for 28 days prior to the auction and send fliers out to all who call looking for information. We do all the advertisement placement and scheduling for the local newspapers. The auction property is placed on our web site. We also send out emails to realtors and individuals who have ask to be placed on our mailing list, at no charge.
At the time that you and the seller decide to auction the property, the property is transferred to us for the period of the auction (about 45 days). We list the property as a single agent only for the period of the auction. During the period prior to the auction date we sometimes get buyers who decide to make an offer on the property. The seller can accept or reject the offer and if accepted the buyer pays the buyer's premium.
When the property goes to auction and the auction concludes with a bid offer. The seller has the option to accept or reject the bid offer if a reserve auction was used. If the homeowner accepts the bid, both sides enter a no-contingency contract to close within 30 days.
I hope this helps, call me with any questions.
Sincerely,
Bob Calistri, Broker
Real Estate Auctions, llc
727-643-5007
www.realestateauctionsllc.com
bob.realestateauctionsllc.com
Auction by sealed bid. All bids must be received by October 25, 2008. 1307 Gulf Way, St Pete Beach, Florida 33706
This beach front property that is just steps to the beautiful gulf and is now the best buy on the beach with a recent appraisal of 5.5 million in Feb 2008. The property is being "sold-as". Many possibilities exist with this multi-use property. Up to 20 units can be built on this property or a single family home with approval of the city. There are currently 14 units with potential to add more. This property is located in beautiful Pass-A-Grille just north of the Hurricane Restaurant . Now you can your own piece of paradise. There is a oversized pool 22 x 40 wide with a 6 x 10 spa. The Hotel is 7000 A/C Space and the lot is 125X 135.
Make an offer now and if accepted the auction stops and it's yours.
Bob Calistri, Broker
Real Estate Auctions, LLC Florida
 |
|
|
Real Estate Auctions create excitement and a deadline for the sale. We will sell your property with, no contingencies, no commissions, no fees, as is, on the day you pick, for your price. 888-643-5007
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
