Real Estate Auctions: A New Trend to Combat Phoenix's Slow Market

Excelerate Auction Group provides clients with the opportunity to take advantage of the real estate auction. The real estate auction allows sellers to avoid needless hassle, create a higher sense of demand in a market where the "supply" of housing is overflowing and it also offers a fair price to buyers.

(PRWEB) October 1, 2006 -- There are currently 55,428 homes that are listed as either Active or Pending on the Arizona Regional MLS for the Phoenix Metro area. The market is flooded with residential home sales, and many of the homes aren’t selling.

The results of last year’s hyperactive real estate activity have left sellers playing the game of price adjustment, dropping until their home becomes a deal that the buyer just can’t let pass. This game takes months due to the fact that many sellers are still left with inflated ideas of their home’s value. Many sellers who are ready, willing and able to sell are in fact being held back from moving on because their property does not shine above the mass of other homes for sale in their area.

In comparison, the properties represented at Real Estate Auctions continue to capture the attention of the marketplace, which results in timely and efficient sales. According to a study funded by the National Auctioneers Foundation, Real Estate Auctions are the hottest sector of all auctions growing by 4.4 percent in the first half of 2006.

The popularity and increasing success of real estate auctions is largely due to the public’s acknowledgement of their appropriateness for the current market. Auctions are virtually the only way sellers have in a buyer’s market to showcase their home as a part of a small, select group separate from the greater mass of listings in the area. Through heavy marketing in a vast array of medias, Real Estate Auctions allow sellers to create a vacuum setting in which the supply and demand levels can be altered to accommodate the needs of sellers while allowing buyers to purchase properties with very little hassle, no extended time frame to accommodate, and prices that reflect a fair price for both buyer and seller.

The Valley’s Own Excelerate Auction Group, LLC:

Excelerate Auction Group, LLC’s(excelerateauction.com) principals have successfully handled Auctions across the Southwest for over fifteen years. Senior Partners Marc A. Geyer and John L. Payne agree that due to the current real estate market in the Valley, the Real Estate Auction is no longer a handy tool, but a necessary solution to the problems created by the boom of the last year. For instance, in the upcoming auction on Saturday, October 7th, 2006 four homes will be featured from the Verrado and Sheely Farms communities. The auction will be held at 9310 E. Bennet Pz., Phoenix, AZ 85037. (For directions call 480-832-9600 or get online at www.excelerateauction.com). Buyers planning on attending the auction view the properties prior to the event during Public Inspections on September 30th and October 4th from 11-1. These four homes are definitely not the only options for buyers looking in the area, but due to aggressive marketing methods, any buyer looking to purchase in the area will be aware of and attend this auction. Buyers who attend the auction are among a large group determined to set their price for these four properties (rather than the countless others that are available through traditional MLS listings). The sense of urgency created by a large group of buyers with a limited amount of product to be purchased is re-created for the real estate industry through the auction method.

Sources Available for further information:

John Payne
Senior Partner
Excelerate Auction Group
www.excelerateauction.com
480-832-9600

Marc A. Geyer
Senior Partner
Excelerate Auction Group
www.excelerateauction.com
480-832-9600

“Auction Industry Grows 10.6%”-Industry report sponsored by National Auctioneers Association. Available online at:
http://www.auctioneers.org/publicRelations/pressReleases/industry-research/2005IndustryResearchResults.pdf

###