Nathan Gilliam

As we launch FlaglerHomeAuctions.com, we thought it important to share an economics viewpoint on where the market is and how Real Estate Auctions can help. Thie fundamental analysis in the market economics is, in part, why we decided to bring a broader cooperative solution to the marketplace in the form of FlaglerHomeAuctions.com

THE PROBLEM
During the past 24 months, we've had record levels of falling prices, loss of equity, loan defaults, decreasing Sales to List percentages, increasing Days on Market, failed businesses, and bankruptcies. Foreclosures, Short Sales, and Distressed Sales are at an all time high. Approximately 38% of all homes for sale in Palm Coast are Short Sales or Lender/Corporate Owned, of which many of the short sales will be future foreclosures if they are not sold fast enough. Coupled with one of the highest unemployment rates in Florida due to such a high percentage of local jobs being in Real Estate related industries, the Flagler County real estate market needs a serious boost forward NOW!

As we previously stated, our local economy is highly dependent on the real estate market, which right now is in turmoil. Even though mortgage rates are low, many buyers are still waiting on the sidelines and lenders are not anxious to lend. We recently attended the National Association of Realtors conference in Orlando back in November, and one thing we gave serious consideration to was that the Chief economist said:

"Low prices are not a concern, it is falling prices which is the concern."
"Low prices means affordability and people respond, but with falling prices, some buyers are hesitant.and housing's recovery will depend on stabilizing prices and inventory absorptions"

- NAR Chief Economist Lawrence Yun (2008 NAR Convention - Orlando, FL)

The longer it takes for Real Estate to find buyer support levels, the worse it will be for everyone. Many Buyers will not buy homes and Lenders will not lend as long as real estate prices continue to fall at 1%+ per month. What needs to happen from an economics perspective, at least locally, is a flushout of the highly motivated inventory. Currently there is far more highly-motivated "must-sell" inventory than our market will absorb at the current price levels, and that is why prices are still falling. We need to seek that level of support quickly, and find where buyers are confident to purchase... then and only then will this market stabilize.

Scenario A figuratively represents what has been occurring over the past 2 years, and a continual longer decline
Scenario B figuratively represents the results of flushing out motivated inventory to achieve stabilization faster

THE SOLUTION
To do this quickly, there is only one answer to solve standoff markets: Auctions. Why Auctions? Some of the most valuable items you know are sold at auction: expensive cars, real estate, high-end artwork, but most importantly our financial markets. Commodities .. the very food we eat and the energy we use every day are sold at open outcry auctions. Why? Simple. They provide liquidity. They will bring the highest buyers and the most motivated sellers together.

But for Real Estate auctions to work, they must be properly priced and very well marketed. Unfortunately, there are a few companies coming in from other areas (nationally) that are holding auctions for REO/Foreclosures and advertising them as "Fire Sales". These are NOT the kind of auctions we need, nor the kind we are proposing. We've attended these auctions, and they are unfortunately selling at about 30-60% of current market values. We can't begin to tell you what that can do to our market. We will agree that flushing out this inventory is vitally important, and doing so even at Fire Sale prices is BETTER than letting them sit on inventory vacant for extended periods.

Initially when we conceptualized the idea of running online auctions, we were going to use them to get an edge over the rest of the real estate companies in the area. Strategic? Yes. At the right time? Absolutely. Would we succeed in the middle of a recession? Probably so. But while lining our pockets, it wouldn't have done as much to help our local real estate market, the city we live in, or any of our fellow realtors' careers and families either, many of which are personal friends of ours.

So, we've made a profound decision to create an OPEN ONLINE AUCTION PLATFORM for all realtors in Flagler County .. where ALL realtors can hold auctions on their listings and are fully protected for their cooperating commission sides. Why would we do this? Because in the long run, not only does it make very good business sense for everyone, this will re-establish liquidity in the marketplace, and the resulting support will be made very publicly known. Buyers, Sellers, Agents and even Lenders will see where the support levels are as it is happening. There is nothing more powerful that can provide a demonstration of buyer support than watching bids for properties as they happen.

"A new Cooperative Solution is needed which combines the power of Online Auctions (think Ebay) with the cooperation and local expertise of the professional Real Estate community."

REGISTER AT WWW.FLAGLERHOMEAUCTIONS.COM TODAY!

ALL HOME BIDDING STARTS MONDAY 2/16/09 AT NOON

www.FlaglerHomeAuctions.com is a new and innovative online real estate auction network that auctions properties in Flagler County, Florida including Palm Coast, Flagler Beach, Bunnell and the Hammock. It is a fully cooperative Auction Network that benefits the entire real estate community, including Buyers, Sellers, Realtors, and related industries such as Banks, Mortage Brokers, Title Companies, Appraisers, and Home Inspectors.

FlaglerHomeAuctions.com is EASY and works similar to eBay, but for local Real Estate!

In this blog, we will outline the benefits for Realtors.

BENEFITS FOR REALTORS

1. Ever Wanted to Run a Real Estate Auction? Now You Can Easily and FREE! - FlaglerHomeAuctions.com puts Realtors in the driver seat of running their own online real estate auctions for their sellers. Other Auction methods require a great deal of resources, including money, time, and highly specialized expertise. FlaglerHomeAuctions.com has adapted to market conditions and bridges the gap for Realtors to easily combine traditional real estate practice with the demand for online real estate auctions to get motivated properties sold.

2. FlaglerHomeAuctions.com is Cooperative & Protective! - FlaglerHomeAuctions.com cooperates and protects the professional real estate community. ALL Properties must be professionally represented; No For-Sale-By-Owner Listings are allowed.

3. Earn & Keep Your Full Commission! - In addition, FlaglerHomeAuctions.com does not take ANY of Realtors' commission side. Realtors earn their FULL commission side the same as a traditional deal. Further, since FlaglerHomeAuctions.com truly is cooperative in spirit, there is a mutual protection period for 6 months!

4. Sell Your Motivated Listings in 15-30 Days! - Auctions held on FlaglerHomeAuctions.com are set for either 15 or 30 Days, and are automatically renewable if not sold. Online Auctions are fast, efficient, effective, and transparent. Auctions have a known "end date". Listing Realtors simply need to sign up, and get their motivated properties submitted for auction, all done online!

5. Get Your Buyers Registered With You! - Assist your Buyers with registering, bidding, and purchasing on FlaglerHomeAuctions.com (make sure they indicate you as their Realtor!), and you will be protected for 6 months to the maximum extent within our control (which is renewable if you continue actively representing the customer). Get them registered with you today before they register without you!

6. Haven't Had Any Offers Yet? Auctions Draw the Market to Speak! - Auctions "force the market to speak" the value of a property in a challenging market. Rather than sitting on the market with no showings, no offers, no contracts, and no sale, FlaglerHomeAuctions.com provides a centralized online real estate auction marketplace.

7. Auctions Can Create a Competitive Frenzy! - The appeal of "Naming One's Price" and "Getting a Deal" creates Buyer competition.

8. See All Bids in Real Time! - Only Online Auctions can provide complete market transparency REAL TIME as bids come in. You can see how many other bids have been made, how much they are, and whether the reserve has been met (if applicable). By seeing all bids real time, Realtors and their customers are kept in the loop IMMEDIATELY as activity takes place.

9. Auctions Instill a Sense of Urgency! - Buyers can NOT take a "Wait & See" approach, as many do in this market. It's Now or Never!

10. Have Customers Facing Foreclosure or Just Need to Sell Fast? - Sell to the highest bidder faster than traditional methods. This may give your customer the additional time needed to avoid foreclosure or negotiate a short sale.

11. Auctions Mean Better Deals, NOT Fire Sales! - Though bidders do expect a better deal than the MLS, Auctions are NOT synonymous with "Fire Sales". The mission of FlaglerHomeAuctions.com is to bring balance to the market by providing solutions for motivated sellers to sell quickly and buyers to find a better deal.

12. Low Deposit Requirement - Only 3% is required at Auction Close. Most Auction Companies require a minimum of $5,000-$25,000 simply to bid, and may require a 10% deposit up front upon winning the auction! We strive to make it affordable and easy to purchase on FlaglerHomeAuctions.com, and with similar flexibility as a normal purchase. THIS MAKES IT MORE ATTRACTIVE FOR BUYERS.

13. FREE Home Warranty Included for Buyers! - Sincer all properties are sold "As-Is", a FREE Home Warranty is included with every home purchase over $100,000 (subject to terms & conditions) to give Buyers added comfort in their purchase. Currently the Home Warranty is offered through First American, a national and reputable home warranty provider. AGAIN, THIS MAKES IT MUCH MORE ATTRACTIVE FOR BUYERS.

14. Bidding is FREE! - Bidding is not only easy, but it's FREE. There is a one-time $1 verification fee via PayPal when bidders create their account for identification purposes, and all bidding is FREE without having to provide a large certified check on deposit in advance. ONCE AGAIN, WE MAKE IT VERY EASY TO ATTRACT MORE BUYERS.

15. No Additional Cost to Sellers! - Sellers pay their normal listing commission when auctioning property on FlaglerHomeAuctions.com. There is a minimal 1% Auction Closing Fee (also known as a Buyer Premium), paid by Buyers.

16. Sellers Protected By Reserve Price! - Sellers always have the provision for a silent Reserve Price as a "safety net". If the Reserve is not met, the Seller still has an option to provide a "Second Chance" reverse offer to the Bidder, but is not obligated to sell.

17. How Realtors Can Help Bring the Market Back Sooner! - By helping motivated sellers get their property sold quickly, Realtors can work together to help bring the market back faster.

18. Full FlaglerChat.com / PalmCoast.biz Integration! - Only FlaglerHomeAuctions.com is fully integrated with the 2 most widely used local websites, FlaglerChat.com and PalmCoast.biz, which have well over 12,000 registered users for local Flagler County traffic. No other service can provide this level of local online exposure.

19. National Association of Realtors (NAR) Recognizes & Supports Growing Auction Trend! - The National Association of Realtors has recognized the increasing growth of real estate auctions as a viable means for "breaking the stalemate" and getting properties sold in a challenging market.

20. FlaglerHomeAuctions.com Combines the Power of Online Auctions with Local Expertise! - No other local company can provide the same power of online auctions and unique marketing, and national auction companies do not have the local expertise needed to ensure full value is attained for sellers. FlaglerHomeAuctions.com uniquely provides both Online Auctions and Local Expertise through the entire real estate community in a fully cooperative model.

21. Are Your Really FULL Service in This Market? - Stand out and easily add Auctions to your portfolio of services for your motivated customers. In this market, providing "Out of the Box" solutions is not optional, it's necessary.

22. List & Sell More Homes! - List and Sell more property by offering this solution! Open Doors to Listing FSBO's and Expired Listings.

23. Move It Before You Lose It (the Listing)! - Get your motivated listings sold BEFORE the listing expires and you lose it to another Broker that DOES provide our Auction service. Offer Auctions to your Sellers at the BEGINNING of the listing period rather than the end.

24. IT IS FREE!!! - Register for $1, and run all your own real estate auctions for FREE! Need we say more?

Visit www.FlaglerHomeAuctions.com for more information

CLICK HERE TO REGISTER TO SIGN UP NOW!

FlaglerHomeAuctions.com is a cooperative Real Estate Auction Network. Real Estate Services provided by Resident Real Estate Network and Cooperating Real Estate Brokers/Agents.

Powered By FlaglerChat.com / PalmCoast.biz.

ALL HOME BIDDING STARTS MONDAY 2/16/09 AT NOON

www.FlaglerHomeAuctions.com is a new and innovative online real estate auction network that auctions properties in Flagler County, Florida including Palm Coast, Flagler Beach, Bunnell and the Hammock. It is a fully cooperative Auction Network that benefits the entire real estate community, including Buyers, Sellers, Realtors, and related industries such as Banks, Mortage Brokers, Title Companies, Appraisers, and Home Inspectors.

FlaglerHomeAuctions.com is EASY and works similar to eBay, but for local Real Estate!

In this blog, we will outline the benefits for Sellers.

BENEFITS FOR SELLERS

1. Sell Your Home in 15-30 Days! - Auctions held on FlaglerHomeAuctions.com are set for either 15 or 30 Days, and are automatically renewable if not sold. Online Auctions are fast, efficient, effective, and transparent. Auctions have a known "end date".

2. Let Your Property Sell For the Most the Market Will Bear! - Industry experts say that Auctions are the BEST APPRAISAL you can get since they are based on current data, not historic data. Since your property can command several bids easily and simultaneously, you can allow your home to sell the absolute most it can command in the market.

3. Haven't Had Any Offers Yet? Auctions Draw the Market to Speak! - Auctions "force the market to speak" the value of a property in a challenging market. Rather than sitting on the market with no showings, no offers, no contracts, and no sale, FlaglerHomeAuctions.com provides a centralized online real estate auction marketplace.

4. Auctions Create a Competitive Frenzy! - The appeal of "Naming One's Price" and "Getting a Deal" creates Buyer competition.

5. See All Bids in Real Time! - Only Online Auctions can provide complete market transparency REAL TIME as bids come in. You can see how many other bids have been made, how much they are, and whether the reserve has been met (if applicable). By seeing all bids real time, you are kept in the loop IMMEDIATELY as activity takes place.

6. Auctions Instill a Sense of Urgency! - Buyers can NOT take a "Wait & See" approach, as many do in this market. It's Now or Never!

7. Facing Foreclosure? Need to Sell Fast? - Sell to the highest bidder faster than traditional methods. This may give you the additional time needed to avoid foreclosure or negotiate a short sale.

8. Auctions Mean Better Deals, NOT Fire Sales! - Though bidders do expect a better deal than the MLS, Auctions are NOT synonymous with "Fire Sales". The mission of FlaglerHomeAuctions.com is to bring balance to the market by providing solutions for motivated sellers to sell quickly and buyers to find a better deal.

9. Low Deposit Requirement - Only 3% is required at Auction Close. Most Auction Companies require a minimum of $5,000-$25,000 simply to bid, and may require a 10% deposit up front upon winning the auction! We strive to make it affordable and easy to purchase on FlaglerHomeAuctions.com, and with similar flexibility as a normal purchase. THIS MAKES IT MORE ATTRACTIVE FOR BUYERS.

10. FREE Home Warranty Included for Buyers! - Sincer all properties are sold "As-Is", a FREE Home Warranty is included with every home purchase over $100,000 (subject to terms & conditions) to give Buyers added comfort in their purchase. Currently the Home Warranty is offered through First American, a national and reputable home warranty provider. AGAIN, THIS MAKES IT MUCH MORE ATTRACTIVE FOR BUYERS.

11. Bidding is FREE! - Bidding is not only easy, but it's FREE. There is a one-time $1 verification fee when bidders create their account for identification purposes, and all bidding is FREE without having to provide a large certified check on deposit in advance. ONCE AGAIN, WE MAKE IT VERY EASY TO ATTRACT MORE BUYERS.

12. No Additional Cost to Sellers! - Sellers pay their normal listing commission when auctioning property on FlaglerHomeAuctions.com.

13. Sellers Protected By Reserve Price! - Sellers always have a the provision for a silent Reserve Price as a "safety net". If the Reserve is not met, the Seller still has an option to provide a "Second Chance" reverse offer to the Bidder, but is not obligated to sell.

14. Fully Cooperative Auction Network! - FlaglerHomeAuctions.com is unique in that its model is to fully cooperate with the entire real estate community. So, whether you are listed with us or another Brokerage, you can auction your property just the same. Likewise, FlaglerHomeAuctions.com brings the power of all Realtors being able to register potential bidders for a much larger bidder pool.

15. Full FlaglerChat.com / PalmCoast.biz Integration! - Only FlaglerHomeAuctions.com is fully integrated with the 2 most widely used local websites, FlaglerChat.com and PalmCoast.biz, which have well over 12,000 registered users for local Flagler County traffic. No other service can provide this level of local online exposure.

16. National Association of Realtors (NAR) Recognizes & Supports Growing Auction Trend! - The National Association of Realtors has recognized the increasing growth of real estate auctions as a viable means for "breaking the stalemate" and getting properties sold in a challenging market.

17. FlaglerHomeAuctions.com Combines the Power of Online Auctions with Local Expertise! - No other local company can provide the same power of online auctions and unique marketing, and national auction companies do not have the local expertise needed to ensure full value is attained for sellers. FlaglerHomeAuctions.com uniquely provides both Online Auctions and Local Expertise through the entire real estate community in a fully cooperative model.

Visit www.FlaglerHomeAuctions.com to Get Your Property SOLD in 30 Days!

CLICK HERE TO REGISTER TO BID AND SELL NOW!

FlaglerHomeAuctions.com is a cooperative Real Estate Auction Network. Real Estate Services provided by Resident Real Estate Network and Cooperating Real Estate Brokers/Agents.

Powered By FlaglerChat.com / PalmCoast.biz.

ALL HOME BIDDING STARTS MONDAY 2/16/09 AT NOON

www.FlaglerHomeAuctions.com is a new and innovative online real estate auction network that auctions properties in Flagler County, Florida including Palm Coast, Flagler Beach, Bunnell and the Hammock. It is a fully cooperative Auction Network that benefits the entire real estate community, including Buyers, Sellers, Realtors, and related industries such as Banks, Mortage Brokers, Title Companies, Appraisers, and Home Inspectors.

FlaglerHomeAuctions.com is EASY and works similar to eBay, but for local Real Estate!

In this blog, we will outline the benefits for Buyers (Bidders). We will outline Seller and Realtor benefis in subsequent postings.

BENEFITS FOR BUYERS (BIDDERS)

1. Get a Better Deal! - Auctions tend to sell the most motivated properties, and therefore whether they are Foreclosures/Bank-Owned, Motivated Sellers, Short Sales, Vacant Homes, or Builder Inventory, Buyers can get a better deal at auctions.

2. It's EASY! - FlaglerHomeAuctions.com only holds online auctions. While you absolutely will have an opportunity to see the auctioned properties, all bidding is easily done online 24/7 from the comfort of your home. There is no need to take time off from work or other obligations at an inconvenient time to attend a live auction (often times during the week during business hours!), as most other live auction companies require.

3. Name Your Own Price! - You easily name your own price by only bidding to your maximum amount without pressure!

4. See All Bids in Real Time! - Only Online Auctions can provide complete market transparency REAL TIME as bids come in. You can see how many other bids have been made, how much they are, and whether the reserve has been met (if applicable).

5. Immediate Outbid Notification! - FlaglerHomeAuctions.com is a sophisticated system (like eBay), and can notify you when you've been outbid by another bidder so you don't the lose the option of bidding again and missing out on a great deal!

6. Flexible Financing! - Unlike most auctions, when you buy on FlaglerHomeAuctions.com, you can use any lender you want, the same as any normal home purchase. Most auctions either do not allow for financing contingencies at all, or require you to use their designated lender in order to have a financing contingency in the contract.

7. Low Deposit Requirement - Only 3% is required at Auction Close. Most Auction Companies require a minimum of $5,000-$25,000 simply to bid, and may require a 10% deposit up front upon winning the auction! We strive to make it affordable and easy to purchase on FlaglerHomeAuctions.com, and with similar flexibility as a normal purchase.

8. FREE Home Warranty Included! - A FREE Home Warranty is included with every home purchase over $100,000 (subject to terms & conditions) to give Buyers added comfort in their purchase. Currently the Home Warranty is offered through First American, a national and reputable home warranty provider.

9. Bidding is FREE! - Bidding is not only easy, but it's FREE. There is a one-time $1 verification fee when you create your account for identification purposes, and all bidding is FREE without having to provide a large certified check on deposit in advance.

Visit www.FlaglerHomeAuctions.com to find your deal today!

CLICK HERE TO REGISTER TO BID NOW!

FlaglerHomeAuctions.com is a cooperative Real Estate Auction Network. Real Estate Services provided by Resident Real Estate Network and Cooperating Real Estate Brokers/Agents.

Powered By FlaglerChat.com / PalmCoast.biz.

FlaglerHomeAuctions.com officially launched at the Flagler County Home Show on 1/31/09! FlaglerHomeAuctions.com is a fully cooperative online Real Estate Auction Network started by Resident Real Estate Network and FlaglerChat.com/PalmCoast.biz. Works like eBay - Buyers can bid 24/7!

All online bidding begins next Monday, 2/16/09 at noon. Home starting bids from $29,000!

Register today to bid at www.FlaglerHomeAuctions.com!

FlaglerHomeAuctions.com serves Buyers, Sellers, and Realtors alike!