Appraisers Feel The Pinch in a Slower Market

I have been a real estate appraiser since the early ‘80s, and I feel it has never been so difficult to come up with a fair market value. Due to corporate companies and hedge fund groups buying large amounts of properties and the banks deciding to work with homeowners who have defaulted, there are fewer properties entering the market. Due to this there are fewer closed sales to use as comparables...Read More

Auctions in Paradise, Part 2: More on "Highest and Best Offer"

As described in Part 1 of this topic, living and working here on the Gulf Coast of Florida in what I call “My Own Little Paradise,” I spend much of my time networking with real estate agents all around the Greater Sarasota area. As Realtors we know that when a seller entrusts their greatest asset, their home, to a listing agent to sell, then the agent’s job is to obtain an offer with the best price and terms possible for the seller...Read More

Bidding Up vs. Bidding Down: Which Direction Do You Want to Go?

Many years ago most assets were sold via auction. The auction process which I refer to as a “bid up” process was the process of choice in those days because it made the most sense. The process of choice for a lot of areas now – traditional sales – is a process I refer to as the “bid down” process. I will explain below...Read More

Teamwork is At the Core of Success

Most successful sports franchises rely on the concept of teamwork. The same holds true for RealEstateAuctions.com, which has institutionalized teamwork as part of its business model.

While most Realtors work independently, the most successful tend to assemble teams that divide up the various tasks of buying a selling real estate so that each is accomplished more effectively...Read More

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