Capitalizing on Condos They’re Bringing in the Cash and Clientele at Real Estate AuctionsJanuary 31st, 2011 by PA - Bloger
With the auction method of sale continuing to be of great benefit to both buyers and sellers in the real estate market, condominiums are among the hot properties being sold at auction. Whether it’s a first-time home buyer, a retiree who wants to downsize, or someone looking for a luxury getaway, condo auctions are once again riding the wave of popularity.
Many condo owners are taking advantage of selling via auction. To avoid paying further maintenance costs and taxes, condo property auctions are proving to be a quick and profitable way for sellers to not only vend their property but also gain a favorable return.
No matter what the climate of the real estate market, the benefits of condo ownership remain. With most complexes offering extensive maintenance plans that include landscaping, snow removal and minor repairs, as well as lavish amenities like swimming pools and gym facilities, condos are still a solid sell.
For those looking to go upscale, there’s no wonder why Florida and California condo auctions in particular are keeping quite busy with condo auctions – beach states are prime locations for luxury properties. What better way to acquire a vacation condo than through a real estate auction? You can end up with the vacation home of your dreams for light years less than you’d pay on the traditional selling market. The savings can be astronomical.
One thing is certain – real estate auctions are gaining more exposure and recognition as a lucrative option, whether you’re buying or selling. According to Condo.com, “Auctions on Condo.com and elsewhere are continuing to gain popularity. The real estate auction market has picked up momentum in recent years proving to be a viable solution for sellers to liquidate inventory quickly… According to the National Auctioneers Association (NAA), home auctions have increased 10% each year since the early 2000s. In the first quarter of 2010, auction sales had already grown by 17%.” Looking ahead in 2011, real estate auctions will surely continue to make their mark in the industry.
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