Case-Shiller Report

http://www.standardandpoors.com/indices/sp-case-shiller-home-price-indices/en/us/?indexId=spusa-cashpidff--p-us----

Financial Times Reports More UK Sellers Avoiding Brokers

There was an interesting article in the Financial Times this weekend discussing how a significant percentage of sellers are turning to alternative sales channels including online brokers or auction companies to sell residential real estate.

I can't help but wonder if this trend will continue to this side of the Atlantic. Those of you who know me well already understand my view that that the top 5 to 10% of agents are worth the fee they charge and then some, it is the other 90% who are vulnerable to a consumer who can no longer rely on appreciation and easy credit to pay the cost associated with having a real estate agent facilitate a transaction.

Stay tuned for more on this topic.

Real Estate Auctions Moving to the Mainstream

Cushman & Wakefield of Texas recently sold several apartment complexes under its new online auction platform developed in Houston to dispose of distressed properties.

The site is structured similar to eBay, but bidders must be invited to participate. Each auction draws from 20 to 25 investors. Cushman & Wakefield maintains a database of global investors to match their interests. In an online auction, first-, second- and third-place winners are selected and put up money for a quick closing. The process prevents sellers from lowering offers after the due diligence period, which can lead to loss of back-up buyers, delays or cancellation in a traditional sale.

This is another sign that the auction process is becoming a main stream vehicle to sell real estate and will be an ever growing part of the landscape long after the real estate correction has run its course.

www.chadroffers.com

Baltimore Sun Reporter Writes Interesting Piece About Real Estate Auctions

Baltimore Sun reporter Jamie Smith Hopkins recently wrote a great piece about a real estate auction that recently took place in Delaware.

Certainly worth the read.

http://weblogs.baltimoresun.com/business/realestate/blog/2009/08/vacationhome_auctions.html

Manalapan Florida Estate Sold

William Quigley with Illustrated Properties sold the residence of Thomas Petters' for $8.97 Million Dollars. The buyer was represented by Sothebys International Realty Agent Dragana Connaughton.

43 Million Dollar Sale in Aspen Colorado - Random One Off or Trend?

Photo: Courtesy of Charles Cunniffe Architects

The sale of a single family home in Aspen Colorado appears to be the single largest residential transaction in the United States in 2009. The sales price of $43 million was approximately 25% less than the reported asking price.

Concierge Auctions Selling Luxury Estate in Boca Raton

Auction July 11th in Boca Raton in conjunction with Nestler Poletto Sotheby's International Realty.

http://www.450coconutpalm.com