Most everyone is familiar with a traditional auctions. Well, reverse auctions are a different and interesting sort of beast. As a leading and widely accepted real estate site states, “The popularity of reverse auctions in recent years has increased, as auctions in general are becoming the preferred way of buying real estate and goods of all kinds.”
As the name suggests, reverse auctions are those transactions in which the roles of buyers and sellers are reversed. For example, en a traditional auction, most commonly known as a forward auction, buyers compete to obtain a property, with the selling price increasing as the buyers keep raising their bids in an effort to outlast each other. A real estate reverse auction, is just the opposite. In the case of a reverse auction, the seller steadily drops their price until they find the price point. Sellers drop their price until they reach market demand.
Aside from the distressed property sales, the “reverse auction” is essentially what successful sellers in this tough real estate environment have done. That is, they have steadily dropped their price until the market has been found for their property. As the old saying goes, “there’s a price for every property.” It may not be necessarily what the seller wants but it’s always been true. Patience has been the tactic of Sun Valley real estate buyers as they have observed this slow-moving reverse auction.
One of my clients is creative and so we discussed the idea of simply accelerating the reverse auction that is the norm in today’s real estate market in the Sun Valley market. This particular property is a premier, award-winning estate home. My client views himself as a realist. As we’ve seen in several of the homes in this price range, homes have instantly gotten activity when they hit the right price threshold. Sometimes multiple offers and sometimes, the price actually can get driven up from the reduced price. With this being prime selling season and the stock market doing well, we believe this will be the most efficient way to identify market demand. A proactive and forward thinking approach.
As of today, this extraordinary, close-in property will have meaningful daily price drops. Every day! This home will sell soon so if you want an award-winning property with spectacular views at the most affordable you’ll ever see, now is the time to take action. Contact me at 208-309-1560 or firstname.lastname@example.org if you are interested in this property or you’d like me to help you develop a creative selling strategy similar to this for your own home. Today’s demanding market conditions require creative and aggressive marketing approaches. Please enjoy the slideshow below and a description of this exceptional property.
Dramatic & magnificent log home. Stunning Boulder Mt. views. Surrounded by 1000’s of acres of open space and other 4+ acre estate lots. Private yet only 5 minutes to Baldy and town and near the Mountain Rides line and bike paths. Ski & hike out back door and rarely run into anyone. This nearly 6,000 square foot home has four bedroom suites with full baths. 30′ ceilings in great room, private apartment, master w/ steam room, wine storage, Elkhorn amenities. Click on Sun Valley Log Home or scroll through the images below for a photo tour.