| Home auctions have been increasing lately, which | | | | market. But, in a way these auctions are good, |
| probably isn't surprising anyone, considering the | | | | because they also take inventory off the market too, |
| increases in foreclosures. Home buyers seem to like | | | | which increases home valuations as these homes are |
| the idea of immediate sales and these home auctions | | | | removed from the active inventory. |
| are attracting speculators now, looking to buy real | | | | Indeed, speculators often buy these homes and turn |
| estate while interest rates are low and prices are as | | | | around and put them back on the market and back |
| well. Of course, these auctions do not only have | | | | into inventory, however when they do, they are often |
| foreclosures, there are many other types of homes | | | | fixed up a bit, thus help increase price average values |
| there, such as tax lien sales. There are all types of | | | | in the area, helping the market in that way. Some |
| homes; fixer-uppers, uncompleted homes in | | | | speculators will attempt to sell these homes FSBO, |
| mid-construction, fire damaged insurance sales, and all | | | | and some will change their minds and end up listing |
| types of other scenarios. | | | | them with a real estate agent into the system. There |
| A real estate agent probably is bothered by this | | | | are many ways to look at home auctions, some real |
| because, homebuyers will go to these auctions and | | | | estate agents will initially think they are evil, yet, in the |
| attempt to buy a home there, rather than a listed | | | | end may indeed, end up selling some of those homes |
| home, this means that the potential for a commission is | | | | in the future anyway? |
| lost, and one more qualified buyer is taken off the | | | | |