Auctions: The Prestigious way to sell Real Estate

Auctions: The Prestigious way to sell Real Estate

CANTON, Mich. (PRWEB) October 14, 2005

When the developer of Canterbury Gardens, decided it was time to sell their last remaining properties, they decided a real estate auction was the way to sell all of his properties quickly. Knowing this would be a great opportunity; they decided to add a 25-acre mixed-use parcel.

On November 12, Christenson-Elms based out of Jupiter, Florida will auction 4 homes, 50 homesites and the 25-acre parcel for the developer. Recent asking prices for the homes ranged from $ 258,000-$ 368,000 and homesites ranged from $ 69,900-$ 119,900.

The auction is a chance for buyers to experience a buying opportunity for these last remaining desirable properties.

The developer is not alone in turning to the auction method of sale, says Annette Elms, President of Christenson-Elms – a nationally renowned firm specializing in auctions of quality properties. There is no difference in selling a piece of fine art or a piece of distinctive real estate at auction” she said. Christenson-Elms has closed more than 23,000 transactions in high-end communities in its 15 years of existence. At the beginning of the year Christenson-Elms closed out two communities, Woodland Springs and Cherry Hill Village, for Ivanhoe Huntley with a grand total of $ 12 Million Dollars in sales.

So who uses auctions? Developers who want better insight into who their buyers are, as well as sellers who want a broader, international marketing of their property.

“We specialize in high-end real estate auctions worldwide,” said Annette Elms. “We’re selective in our properties. We choose to represent distinctive properties that are located in desirable areas.

While the industry has experienced significant, positive changes, some basic principals of auctions remain constant:

*Accelerated sales. Auctions are a prestigious way to sell property quickly. Auctions work – for both buyer and seller. In a competitive bidding process, buyers are assured that the price they pay represents market value. Sellers convert their holdings to cash – usually within 60-90 days.

*Effective sales tools in any economic market. When economic growth results in an oversupply of available property, buyers often delay their buying decision. Or, confused by too many properties to chose from, buyers may withdraw from the market completely.

In tighter economic times, sellers more than ever need a highly concentrated and specific focus on their property.     By focusing on a specific property, auctions eliminate competition from other properties.

*Maximized price. Auctions create a sense of urgency that not only translates into a buying opportunity, but maximizes pricing by creating competitive bidding. They also eliminate carrying costs and overhead, thereby freeing up capital.

Properties sell ‘as-is, where-is’ without contract contingencies or negotiations, “Elms said.

By targeting specific markets for the property, auctions attract the largest number of qualified purchasers and obtain the highest market value for the property.

Property Amenities

The Canterbury Gardens community is conveniently situated on the southwest corner of Willow and Waltz Roads in Huron Township, Michigan. The community is lush with mature trees, wetlands, and a wealth of nature.

The 25-acre mixed-use parcel is located off of Lotz Road in Canton Township, Michigan. The parcel has 660 feet of prime I-275 frontage. Located near Ikea, Home Depot, Sams Club, and Emagine Movie Theater, it is the last of the development opportunities in the area. The property could be used for residential, commercial, light industrial, or a combination thereof and may be subdivided.

Of the 50 homesites and 4 homes being offered, 10 homesites and 1 home will sell absolute to the highest bidder regardless of price. The 25 acre parcel will be offered reserve.

Auction Details:

The auction will be held on Saturday, November 12, in the Fellows Creek Golf Club in Canton, Michigan. Registration starts at 11:00 am. There will be an auction seminar from 12 noon – 12:30 pm. In order to bid, a cashiers’ check is required for each property to be purchased.

If you are unable to attend the auction, but still would like to purchase one of the properties, you can make an offer prior to the event. For more details call the auction center at 1-800-440-4424.

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