Same thing going on with the Roebuck auctions. 2 of the homes at Magnolia had asking price increases in September 2007. One home jumped from 505K to 625K and the other home's asking price jumped from 590 to 675K. Didn't make sense at the time.
Auction Tomorrow - Reserves Lowered
- Thread starter P.A.G.
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Mr. Auction man, SJ is not on trial regarding this issue. You, your firm, your seller, and other parties are. I am quite alarmed by this thread, and your responses. For the sake of your reputation, your auction company, and perhaps SoWal auctions in general, please expound upon the events surrounding this snake charmer and switch and bait sales pricing approach. Further, the market being stated as 800k-900s raises long standing issues why anyone would show up to this or any of your auctions.
I look forward to your rather detailed and forthright explanation.
Sincerely.
Too rich for my blood, but to answer your question with the obvious, it is worth what a buyer is willing to pay. It is a very nice house, though I think the upstairs is a little tight feeling with the ceiling height, after walking through the tall ceilings downstairs. It appears very well constructed, and I notice many upgrades. I think you could find a buyer in today's market in that 750K-800K range, which might sound low compared to the highs of the market, but I think that is the real price to expect today. Ask me again in two years, and I may have a different answer for that day.
For the record, I don't think PAG was putting me on trial with his question. Sounds to me as though he/she is curious to hear what I think the realistic price for which the property would sell.
Some properties I've seen, have exciting prices, but many other sellers need to get realistic, and until they do, their properties won't sell, even by going to auction. The only reason a seller would refuse to sell Absolute at an auction is that they fear knowing the real selling price. Just my opinion.
Some properties I've seen, have exciting prices, but many other sellers need to get realistic, and until they do, their properties won't sell, even by going to auction. The only reason a seller would refuse to sell Absolute at an auction is that they fear knowing the real selling price. Just my opinion.
All of the properties for the Roebuck Auction are no longer on the market. I have been researching these properties for some time, I am NOT involved with the auction company. At one point our market made a positive jump in the fall, Sept/Oct and perhaps this is why the price was increased at that time. The owners were probably hoping to sell a few properties prior to auction time. My crystal ball is not working today otherwise I would have a better answer.
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All of the prominent attorney's properties had an asking price increase in September. I don't buy the price spike theory in September.
Wow...sounds like mr. auction man upset you. Just for the record. I didn't take the post that way at all. I just thought that PAG was asking what SJ thought was a good price if he thought it was too high. PAG, what did you mean? Seems like you had us all taking that different ways.
I have been following RE in the area for awhile and I looked at the prices on the website. I can't claim to know much about the auction stuff becuase I bought way before auctions, but I thought some were definately better than others. I would say that the Gulf Front Townhome really blew me away. $650,000? Now that is a great buy if you ask me. Even in this market. I also heard that one was sold pre-auction. Anybody know anything about that?
Atl,
The gulf front townhome has a reserve of $625K, not $650K. Thanks for the postive words, it's hard to get around here sometimes. For the record, I'm not putting anybody on trial.
2 properties have been sold before the auction. This will be my last response for the day.
Hope to see all of you there.
The gulf front townhome has a reserve of $625K, not $650K. Thanks for the postive words, it's hard to get around here sometimes. For the record, I'm not putting anybody on trial.
2 properties have been sold before the auction. This will be my last response for the day.
Hope to see all of you there.
I don't think all of his properties were listed prior to this auction.
I beg to differ. I watch this area like a hawk. 