From the LA Times Money & Company blog: 2010: The year of the real estate auction?
Auctions gained traction in last year’s down housing market as a way to sell real estate — in all price ranges. It’s a trend I expect to see more of in 2010, and not just for bank-owned homes.
Why I’m expecting to see more auctions in the mainstream: It gives the seller a defined time frame; if the house doesn’t meet the “reserved price” the seller had in mind, then it can be always listed later; and the idea is still novel enough that the marketing is an attention-grabber for the house.
Do you think Boston will see more condo auctions in 2010?