Auctions could help homebuyers find deals
February 19, 2010 - Individuals who are considering moving to a new home may want to attend real estate auctions, which could lead them to high discounts on new and used properties.
Due to the down market, several vacation home builders in Ocean City, Maryland, have put their new developments to auction this year, the Baltimore Sun reports. For example, developer Bahia Vista has announced that 20 of its unsold condos will be split between two auctions next week.
While previous asking prices for these properties ranged between $680,000 to $790,000 per unit, bidding on some of the properties will start at $95,000, according to auctioneers at one of the events. At least four of the units will not have minimum bids.
Past auctions have resulted in sales of similar properties for $240,000, according to the news source.
Although these events may save buyers a great deal of money, these individuals should be sure that they are purchasing new homes from licensed and legitimate auctioneers that will not mislead them.
In Miami, a foreclosure auction website has recently been called deceptive, as some of its users unknowingly purchased properties that featured extensive condo liens or preexisting mortgages, the Sun News reports.
Recent Articles
Celebrity journalist Jason Kennedy moving to Beverly Hills
As red carpet season heats up, The Los Angeles Times reports that E! News correspondent Jason Kennedy will be moving into a new home in Beverly Hills. He is reportedly leasing the home for $7,900 a month.
Friday, February 10 2012 17:57
Actress Jennifer Morrison moving out of home in Encino
While housing prices in California remain low, The Los Angeles Times says actress Jennifer Morrison has listed her Encino home for a little less than what she purchased it for a few years back.
Thursday, February 09 2012 17:35
Hollywood producer Terence Winter moving out of Bel Air home
Real estate blog The Real Estalker reports that writer and producer Terence Winter may soon be needing movers as he packs up his home in Los Angeles.
Wednesday, February 08 2012 18:36
Tae Bo star Billy Blanks packing up home in Hidden Hills
Real estate blog Zillow reports that fitness fanatic Billy Blanks may soon be needing movers as he recently sold his home in California.
Tuesday, February 07 2012 18:19
Hollywood director Sofia Coppola moving out of New York condo
Sources report that actress-director Sofia Coppola may be calling for moving services as she has recently listed her home in New York for sale.
Monday, February 06 2012 18:06
Related Categories
Homes for Sale News
Old home of former President Ford listed for sale
Sources report that President Gerald Ford's former home in Rancho Mirage, California, is ready for movers.
Tuesday, January 24 2012 17:59
|
Twilight stars Rob Pattinson's and Kristen Stewart's former home for sale
Twilight's famous couple Rob Pattinson and Kristen Stewart have moved out of the Bel Air home they were renting, and it is now on the market for $5.995 million. The two actors were paying $22,500 per month for the home.
Monday, December 05 2011 17:02
|
Actor David Spade lists Malibu beach house
Comedian David Spade has put his Malibu home on the market for $13.5 million. A source reports that he spends most of his time at his Los Angeles home and had been trying to get rid of the Malibu home since 2007 when he listed it for $16 million.
Friday, December 02 2011 16:50
|
New York Yankees catcher sells home in Florida
Jorge Posada, catcher for the New York Yankees, just sold his home in Miami for $4.5 million. The home was on the market for 611 days and originally listed at $7.2 million in January of 2010.
Thursday, November 10 2011 16:09
|
Michael Jackson’s final home in Beverly Hills for sale
The Beverly Hills mansion where Michael Jackson passed away is now on the market. Jackson rented the home with his three children from December 2008 until his death in June 2009.
Thursday, November 10 2011 10:41
|
