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Luxury Real Estate Auction

Articles & Blog, Auction News, Auctions, Luxury Real Estate Auction, Real Estate Auction

What Do House Staging Result? Nothing!

A current research study discovers that home-staging solutions have an effect on a house’s price that results being under what many people believe.

How much does a gaudy violet wall surface color scheme impact a residence’s sales price?  Very little, based on brand new research on property staging.

Home Staging Study

Option 1: Some study participants saw a home rendering with ugly purple walls and mismatched furniture. Troy Hines/HBA Architecture & Interior Design

Making a good impression may help with a general overview of a potential homebuyer, but it does not mean they will spend more to purchase the home.

In fact, now there is data that proves that staging a home does not cause buyers to pay more for your house.  Michael Seiler, professor of Real Estate & Finance at the College of William & Mary, has investigated and conducted research on precisely how house shoppers  / home buyers answered 6 residence visits that differed in the color of paint and quality of furnishings.

His research found that home buyers were willing to pay on average of $204,000 in each of

the staged homes, no matter if the home had premium of furnishings or even hideous color of paint.  The irony is that his investigation also asked the home buyers if believed that the other home buyers would adjust what they would pay based upon the way the home was staged.

“We were able to parse out what you consciously believe and subconsciously believe,” Professor Seiler says. “Beforehand, everyone thinks poor staging is going to be a problem. But when we actually did the experiment, we found it doesn’t matter.”

Mr. Seiler and co-authors Mark Lane of Old Dominion University and Vicky Seiler of Johns Hopkins University led 820 home-buyers with one of 6 online residence trips in March 2012. Utilizing professional-grade making software application produced by a style company in Virginia Beach, Va., each residence showcased either a “neutral” off-white wall surface color or an “unsightly” purple paint color, and “great” furnishings, “unsightly” furnishings or no furnishings.

Still, Mr. Seiler warns: “All we could test is how much the home would sell for. What we don’t know is whether a well-staged home will sell faster. It may sell quicker.”

Home Staging Study

Option 2: Other participants saw a rendering of a room with neutral paint color and matching furniture. Troy Hines/HBA Architecture & Interior Design

The research about the, “The Impact of Staging Conditions on Residential Real Estate Demand,” has actually been approved by the Journal of Housing Research for magazine at some point following year, he claimed.

It might be challenging to encourage real-estate “experts” to embrace these facts and share them with their clients.

Doug Eichman, a real-estate representative with Core in New York City, invested greater than $30,000 to stage a Midtown East penthouse co-op listed by an agent for $6.995 million.  His stager, Cheryl Eisen, president of state of New York City-based Interior Marketing Group Inc., states staging a home works when a home buyer really feels emotional about the house.

The Study

Researchers took 820 home buyers through six different homes using video of houses that differed in home furnishings and wall surface color. Participants then ranked their perceptions of the home and stated what they would want to pay for the home.

The research found the following:

– Respondents shared they would pay about $204,000 for the residence in all 6 of the homes toured, no matter how high quality of home furnishings or paint color.

– Respondents thought other home buyers would pay $7,595.75 less, or 3.7 %, for a residence with an unpleasant wall surface color and $8,297.22 much less, or 4 %, for a home with inadequate home furnishings.

Source: Lead writer Michael Seiler, instructor of realty & finance of the College of William & Mary.

Articles & Blog, Auction News, Auctions, Commercial Auctions, Estate Auction, Farm Auctions, Luxury Real Estate Auction, Real Estate Auction

Can You Afford To Settle For Less For Your Home?

Top Dollar For Your Home At Auction

What Home Owners Need To Know About Selling Their Home

Can you afford to settle for less than the most your home could possibly sell?  When was the last time you noticed a price on a home listed for sale go up and not down?  We do with every home we sell!

Don’t settle for less than top dollar by selling with antiquated selling methods of the traditional list, wait and continuously reduce methods used by Real Estate Agents | Realtors.

When buyer’s compete seller’s win!

This ONLY happens with the auction method of selling.  Don’t be fooled by a Realtor | Agent who tells you they will get people bidding on your property.  They can’t!  Fact is, the moment you put a price on your home it is game over!  You lose control of selling your home the moment you put a price on it.  It is not like people look and say, “They are asking $400K, I’ll offer them $425K.”  No way!  They think, “I will make them pay for an inspection, deduct all I can and then some and then I’ll reduce even more and then let their Agent | Realtor pressure the seller into taking it.”Sell - Strategy Innovation Plan Success

Time to roll back the frontiers of ignorance selling real estate!

We are here to help educate and empower sellers to take back control of selling their homes where they don’t tell ANYONE (except the Auctioneer) what price they want to receive and make a decision on the day of the auction if it is what they are willing to receive.  No more contingencies of buyers dictating – fix this, repair that, upgrade the next thing!

Home Profit CalculatorBuyers purchase your home “as is” – meaning that as you see it is how they are buying it.  A buyer can pay for any inspection they want to get but it will not stop the price at auction from going up. Don’t risk letting the world know what you will settle for with a listing! Make serious and qualified buyers show up to bid on your home today!

Discover the difference the auction method can make for you with our FREE CALCULATOR

Let us structure the sale of your home where you pay no closing costs or taxes today!

Our Auctioneers are committed to excellence and your success. This is one of many reasons why True Blue Auctions is your resource for the highest quality real estate services. Contact Us today!

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Four Tips for Attending Your Next Property Auction

Property Auction

Essentials To Know At Real Estate Auction

So, you love auctions, but you find yourself in a bit of a bind when you attend one. Never get caught off guard again because you can now feel prepared. Auctions can be a bit tricky because you often feel like a kid in a candy store. However, you can attend a property auction (personal or real estate) and come out on top. Here are 4 tips to take to heart before attending property auctions:

#1.Check out the property

Before you purchase property (real or personal) at an auction you will want to become familiar with different terms.  There are auction terms and real estate terms and knowing both will help you have a greater understanding.  Next you will want to preview the auction. You can preview real estate and estates personal property at an open house and online and some even have videos to watch.  If you are serious about purchasing the property, then you will want to have a home inspection completed if it’s a developed property.

For undeveloped properties, you will want to ask about mineral rights and approved zoning. You may want to build a shopping mall (commercial use) but if it is zoned for agricultural use only you may to spend a lot more money battling a local bureaucracy to have it changed for you to do what you would like with it. 

#2. Understand the difference between want and need

If you have a budget in mind when it comes to purchasing a property, then you should know the difference between a want and a need. When it comes to purchasing real estate properties, you cannot waiver back and forth. There will be a lot of serious bidders out there. Will you be one of them?

#3. Secure financing before the property auction

Unless you have a pocket full of cash before a property auction, you should always secure financing. See how much you are qualified for and be prepared to put a good amount of money down. Securing financing for an auction is a little different than other types of financing. It’s a proven fact that the more actual cash you can put down on the property then the better off you will be with the banks.

#4. Be prepared for anything

When going to an auction property prepare for anything. The property can be better or worse than what you expected. You might even be able to get a better deal than what you first anticipated. One thing is for sure, bidding on property at an auction is nothing like sifting through a property magazine. It’s a rewarding and exhilarating experience and something you will want to be a part of in your lifetime.

One should always do their research before going to buy real estate at auction and then buying at Auction is easy!

Articles & Blog, Auction News, Auctions, Commercial Auctions, Estate Auction, Farm Auctions, Luxury Real Estate Auction, Real Estate Auction

The Advantages of Selling Property at Auction

Discover Advantages Of Selling Real Estate At Auction

According to a study conducted by Harris Interactive some 83% of people believe that auctions are a way to find good deals. Those with a home for sale or other property for sale need to seriously consider the benefits of selling at auction.  Homes for sale can take months or even years to sell. Those with a house to sell often put out all sorts of money into repairs and updates.

Buying a house can be just as frustrating with the owner turning down bid after bid. However, with an auction and an auctioneer there is no need for constantly searching for homes for sale. Buyers don’t have to go through a property search. Instead, they search the auction listings on websites like Real Estate Auction MLS to find homes for sale or other available real estate. At auction, a buyer doesn’t have to go through exhausting negotiations to get that desired home for sale. All a buyer has to do is to make the best bid. The person offering the most amount purchases the property for sale on the spot.

Real Estate at AuctionThe seller of the house for sale benefits by the immediate turn around on the real estate. The seller doesn’t have to put up with strangers continually traipsing through the house for sale and prolonging the process of offering real estate for sale. Auctions allow the seller to set the time and place of the sale. There is no confusion as to when the auctioneer will do his job or when those interested in buying a house will be on hand.

An Agent and/or Realtor searching for a property isn’t necessary. Those who wish to buy a house simply contact the auctioneer for a tour of the home, schedule a home inspection if they want and show up at the time and place listed for the real estate for sale. It takes a long time with the services of a real estate agent to let the public know they may buy a house. Because it is a contingent sale (conditions placed by the buyer – fix this, repair that, reduce for the next thing, bank financing, etc.) and because the seller makes the initial offer of a price, the only thing a seller can count on is the price being negotiated down. However, when property is sold at auction, the auctioneer, wants as many qualified buyers as possible to attend and only qualified buyers can participate. Auctioneers do extensive marketing to the targeted buyer(s). Because the seller knows that their property will sell in the present condition (as is) and is not contingent upon financing it eliminates the unqualified buyers from participating at the auction. This saves the seller money, time and effort. The seller can plan and move on with their life knowing when their property will be sold and that it will be to the highest bidder at a price that is based upon the reality of what it is worth.

Other benefits include the seller not needing to invest in repairs or upgrades. Everyone has different tastes and a new owner can make it their home by renovating as they would like and not according to what an Agent and/or Realtor wanting to double as an interior decorator, landscape architect or home renovation expert thinks it should be to get the home sold. Auction companies and auctioneers are to specialize in getting the most exposure possible and top dollar for their client and if they have marketed the property properly and at the end of the day when the property is sold and changes hands in this simple transaction, it will be at a price that is both fair to the seller and to the buyer.

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3 Reasons Auctions are Relevant to Buying

 

sell at auction3 Reasons Auctions are Still Relevant to Buying & Selling Land

Most of the summer you have heard about the drought and how it has impacted all most every way of life, but there is good news in the auction world. Land is a huge part of auctions and it’s been a consistent seller this year throughout several states. Many are baffled as to why land would be still valuable even though it’s been through so much with the weather and drought this summer.

#1. Auctions are timeless.

Auctions attract a lot of people, but they especially attract buyers are who are interested in purchasing land. One of the main reasons is they are looking to get a great deal and they are looking to come out with something they can turn for profit. Showing up at an auction that is releasing large amounts of land is a no brainer.
It shows that auctions are timeless, no matter what the situation. It also shows that land is desirable even if it’s been through one of the droughts in history. Bringing both together is genius in the sense that the seller gets what they were looking for and so does the buyer.

#2. Auctions still bring quality.

Land sold at auctions still will sell at different rates. Land that has better soil and quality of land will obviously sell better. However, those who thought that their land wouldn’t sell because it was affected by the drought were wrong. Those who attend auctions are looking for different things and you never know if you have the product in which that person may be looking for.

#3. Auctions bring the long term.

Often when someone is looking to purchase they have long term goals in mind and that’s what is ideal about auctions. A lot of people who attended auctions this summer were looking at long term goals in terms of land. Just because the land had a rough year this year doesn’t mean it won’t see better years.
(Most) people who attend auctions have goals that they want to reach and they look at it as an investment. The truth is that passing up on selling land at an auction, or anything for that matter, could be a bad move on your part. Auctions are proving over and over again to be a positive way to sell and obtain long term investment pieces.
Have you thought about attending an auction lately to buy or sell a piece of land?