It’s no secret that there are too many homes on the market right now.  Supply exceeds demand, and many homes are not realistically priced to sell in today’s market.  Many real estate investors, realtors and property owners became convinced that if they bought a home at one price, they could turn around and sell it at an even higher price either immediately or in timeframe of 1-3 years.  That was true in most markets across the U.S., but prices spiraled out of control.  Prices are now correcting themselves based on simple economic principles.  Now, some people that want or need to sell have unrealistic expectations.  They may have an asking price that is simply too high.  As the old saying goes, something is worth exactly how much somebody else is willing to pay for it.  That is why selling through absolute auction is a realistic approach to selling a luxury home at true market value.

Selling at auction sometimes has a negative connotation associated with it.  That is hardly the case!  Auction is actually a great option to consider.  Some benefits to the seller include:  knowing exactly when the property will sell, knowing that only pre-qualified buyers with the financial means will attend the auction and are prepared to buy, knowing that the accelerated sales process will eliminate the long-term carrying costs of upkeep and taxes, having assurance that the property will sell at fair market value on auction day, knowing that competition among buyers on auction day can actually produce a price that exceeds a negotiated price that might happen as a result of the traditional sale between buyer and seller.

If you have a waterfront property, second home or other luxury home worth over $2 million that you would like to sell at auction, call Pat Kirby at 214-321-8524 or visit www.grandestatesauction.com