Auctions…..proceed with caution
In a recent column, The Real Estate Professor discusses the ins and outs of real estate auctions.
There have been several auctions recently here in Southwest Florida and the results have at best been mixed. The Northport lot auction was deemed a success by those involved and the Marco Island property auction was considered as a bust.
Colleagues of mine who frequent distressed property auctions are typically looking to acquire property at least 30 percent below the market value. Many are finding this very challenging with the large crowds that often turn out at these events. I expect the crowds to thin at some of these events as the market cools.
Ins and out of auctions [Naples Sun Times]
If you enjoyed this article, please consider sharing it!
recent comments