Real Estate Auctions

Dec 06 2006

Friend of mine sent me this… the price difference from the standard “usual” market and the auctions are astonishing.

One three-bedroom ranch house with a pool sold for $671,000. In 2005, the same house sold for $809,000. Another house, just steps from Naples Bay, sold for $880,000 at the auction., compared with $1.35 million a year earlier. On average, the houses that changed hands at the auction had fallen about 25 percent in value since 2005, according to Thomas Lawler, a real estate consultant who analyzed the auction’s results.

What Statistics on Home Sales Aren’t Saying

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