Auction Tomorrow - Reserves Lowered

[P.A.G.]

17 properties being auctioned tomorrow at The Hilton Sandestin. Registration starts at 1pm, Auction starts at 3pm. There will be some great opportunities. Please visit our website for property descriptions.

http://thepremierauctiongroup.com/auction_list.php

In order to bid, please bring $10,000 in certified funds made out to yourself.

 

[Smiling JOe]

how many of your auctions will be sold absolute?

 

[Smiling JOe]

I'm curious about one of your auctions, 62 Thicket Circle in WaterColor. I watched this house since they broke ground on it and am very familiar with the history of it in the MLS. The listing agent had it advertised at a price around $895,000 for a while. About two days prior to seeing it advertised in your auction, I noticed a price change in the MLS, changing the price to something like, $1.395 million. Was this done so as a marketing tool for the auction and do you encourage sellers to raise their listing price prior to it coming to the auction, in hopes of using the high listing price as a feature when describing the property at auction, or, is the seller doing this on his/her own?

 

[BeachKing]

On, or about 11/5/2007 62 Thicket Circle raised their price from $985,000 to $1,395,000; a 41.62% INCREASE. Dont ya just love it.

 

[Smiling JOe]

On, or about 11/5/2007 62 Thicket Circle raised their price from $985,000 to $1,395,000; a 41.62% INCREASE. Dont ya just love it.

I could have sworn that the add for sale in the Sun was at $895K -- maybe bad memory or a typo. I understand that the builder turned down a very nice offer of well over a million, when he was only about 3-4 months into the build. Cannot blame him because values were increasing a couple hundred grand in a couple of months back then.

I do notice the adjacent house to the north, 72 Thicket Circle, is currently priced at $849,000.

I will add that today's buyers are some of the most researched buyers I've ever seen and they look at all things like this before considering purchasing. I think sellers must think they buyers are not doing simple basic research before ever stepping foot in or on a property.

 

[P.A.G.]

That property was dropped in the MLS to $985,000 well after we had advertised the minimum bid at $900,000. It was done by mistake. It was only listed that way for 5 days.

 

[Smiling JOe]

That property was dropped in the MLS to $985,000 well after we had advertised the minimum bid at $900,000. It was done by mistake. It was only listed that way for 5 days.

Looking at the listing in the MLS under auctions, I see that the minimum bid was left blank. Since there is a minimum bid which you state above, why don't you guys complete the mls sheet as required by the mls rules?

 

[BeachKing]

Comps in the area reflect the 800K range, not 1.3. Thats Sq Ft , Bed-Bath, etc, locaton etc, I can go on and on. In todays market, @ 1.3 it will sit. Maybe Next week it will fly,, but for this day, no way.

PS, Not ragging on you, really, just stating facts as of this minute. Hope you do get it all.

 

[Smiling JOe]

I agree. If the minimum bid is $900,000, it will not sell tomorrow. As I stated, the adjacent house, 72 Thicket Cir, is priced at $849K and offers similar sq footage, similar location, similar materials and craftsmanship. I've been in both.

 

[P.A.G.]

What's it worth to you SJ?