As the real estate market continues to correct and homes languish on the market longer more sellers are turning to auctions to sell their home. The use of property auctions to facilitate the sale of a home continues to grow in popularity. From 2003 to 2006 residential real estate auctions grew nearly 40%. 

SKY Sotheby’s International Realty and Daniel Decaro Real Estate Auctions will be conducting a multi-property luxury auction today at The Longboat Key Club. We have gathered a magnificent assortment of luxury homes and condominiums ranging from a $20 million dollar beach front estate on Casey Key to a charming home in Towles Court. Our Fall 2007 auction will be an exciting opportunity for both buyers and sellers.  

Seller benefits:

• Massive Promotion - our auction will place an exclusive collection of luxury properties on a pedestal. The broad advertising campaign conducted allows our gathering of homes to outshine the other 14,000 properties for sale in Sarasota and Manatee counties.
• No drawn out negotiations
• No financing contingencies
• As–Is condition
• 30 day closing
• Finally, the auction can create something lacking in today’s real estate market – the possibility of competition and a sense of urgency.

Buyer benefits:

• Opportunity to buy at or below market value
• No drawn out negotiations
• Motivated sellers
   

Buyers and sellers benefit from an auction as well as the overall real estate market. Creating a sale that otherwise would not have occurred helps speed up market recovery by reducing inventories and establishing values where it was previously difficult to do so because of a lack of transactions. After a successful sale potential and existing sellers in the immediate area now have a sold property to substantiate their asking price. 

The determination of value is a common snag in today’s marketplace. There are buyers who want to buy and sellers who want to sell but they can’t meet on common ground because deriving value is difficult. Auctions help overcome these snags by creating transactions that help establish value. 

SKY Sotheby’s International Realty remains committed to providing a superior customer experience by creating innovative strategies to overcome today’s market obstacles.