As any investor knows, there are times when you make money -- and times when you lose money. The important thing is to move forward and accomplish your goals while not focusing on the short-term loss, so that you can take steps to realize an overall profitable future.
Vail, CO (PRWEB) July 13, 2009
In the next three weeks, luxury homes valued from $3M - $10M will be sold at live absolute auctions -- which means to the highest bidder, regardless of the price. This is a true buyer's bonanza. Previously, this market has been impervious to the decline of real estate values seen elsewhere in America.
Forbes-Sotheby's prior managing-broker Patrick Mitchell has partnered up with the very successful Exclusively Auctions, a boutique luxury firm, to sell two Cordillera Ranch estates on August 6th. Other firms are following suit include Val Devine, Slifer-Smith & Frampton's, and Sonnenalp Real Estate.
One seller in Cordillera that is represented by Exclusively Auctions was asked how he could risk the sale of his $3 million home by selling via absolute auction -- with no minimum bid and no reserve price. Exclusively Auctions President Nicholas Varzos replied, "Although the seller is underwater, he recognizes that the market is simply down and he'll have to settle for less." "The great news is that like many well invested Americans, he can afford to sell -- and that equates to a real buyer opportunity." "As any investor knows, there are times when you make money -- and times when you lose money. The important thing is to move forward and accomplish your goals while not focusing on the short-term loss, so that you can take steps to realize an overall profitable future."
Vail Valley and the Cordillera Ranch are known for being the hang-out of such notables as Kobe Bryant, Kevin Costner, Jack Nicholson, Oprah Winfrey, Tom Cruise, and Donald Trump. Yet despite such wealthy notables propping up the values, this limited-opportunity resort property is feeling the pinch of the economy. Ms. Devine has just released news of another luxury home auction being held on July 28th -- valued to $10 million.
For anyone looking to obtain some luxury homes and 'ritzy' real estate deals -- it may be time to look to the Vail Valley. They can pick up the phone and contact almost any broker in town. All are ready to stimulate the market in any way possible. Because of the absolute auction process buyers name their price and steal a property for true market value -- at least as far as the National Association of Auctioneers (NAA) is concerned.
"Real estate auctions make for great opportunities!" Varzos adds.
For additional information about luxury homes in the Vail Valley, upcoming real estate auctions and anything else about real estate auctions, contact Jon Foege 888.826.7310, public relations manager