89 Palmeira Way, Lot 21, Lot 23, and Lot 28 are being offered by auction on October 13, 2007 at 1:00 pm. We have set a new published minimum bid of $750,000 for this property. Any bid of $750,000 or more will be accepted and property will be SOLD. Please view our website for more information.
The Premier Auction Group
http://www.thepremierauctiongroup.com/auction_detail.php?auction_id=368693&ID=368693
PRE-AUCTION OFFERS ARE ENCOURAGED AND WILL BE PRESENTED.
Replies
84Beach LoverAuthor
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
Any opinion on this published minimum bid of $750,000? A 10% buyers premium will be applied.
Any opinion on this published minimum bid of $750,000? A 10% buyers premium will be applied.
Edited
SoWal Insider
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
What/when did they initially pay for the properties?
What was the price they asked for selling it the "normal" way?
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Any opinion on this published minimum bid of $750,000? A 10% buyers premium will be applied.
What/when did they initially pay for the properties?
What was the price they asked for selling it the "normal" way?
.
Edited
Beach LoverAuthor
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
The sellers are the builders of this home so there is no original purchase price for the house. The home was last listed for a short period of time at $899,000 and previously at $995,000. We sold the last home in Palmeira at auction for $930,000.
The sellers are the builders of this home so there is no original purchase price for the house. The home was last listed for a short period of time at $899,000 and previously at $995,000. We sold the last home in Palmeira at auction for $930,000.
Beach LoverAuthor
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
This board is usually such a great place for feedback...I know there has to be more opinions out there.
This board is usually such a great place for feedback...I know there has to be more opinions out there.
SoWal Insider
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
Personally speaking, I think housing "auctions" that have a "minimum acceptable bid" is no auction at all, it's more like an Open House with Floor Runners getting in your face.
BTW, how many people did you have touring the house during the preview/inspection dates?
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This board is usually such a great place for feedback...I know there has to be more opinions out there.
Personally speaking, I think housing "auctions" that have a "minimum acceptable bid" is no auction at all, it's more like an Open House with Floor Runners getting in your face.
BTW, how many people did you have touring the house during the preview/inspection dates?
.
Edited
Beach LoverAuthor
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
We've had about 15 or so tour the property. Many auctions, regardless of what is being auctioned, have a minimum.
We've had about 15 or so tour the property. Many auctions, regardless of what is being auctioned, have a minimum.
SoWal Insider
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
I understand about auction reserves for rare and collectable items (that people really want) is pretty much the norm , but in the case of house auctions, having a reserve price hasn't been as successful as the owners' had hoped.
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We've had about 15 or so tour the property. Many auctions, regardless of what is being auctioned, have a minimum.
I understand about auction reserves for rare and collectable items (that people really want) is pretty much the norm , but in the case of house auctions, having a reserve price hasn't been as successful as the owners' had hoped.
.
Edited
Beach LoverAuthor
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
I can agree with that. A lot of the time the reserves are set at unreasonale amounts. In this case, I don't believe that we are working with an unreasonable amount. If the final bid was $750,000, that would make the total purchase price $825,000. That would be $105,000 less that what we sold that last home in there for and $295,000 cheaper than the lowest priced active listing in the subdivision.
I can agree with that. A lot of the time the reserves are set at unreasonale amounts. In this case, I don't believe that we are working with an unreasonable amount. If the final bid was $750,000, that would make the total purchase price $825,000. That would be $105,000 less that what we sold that last home in there for and $295,000 cheaper than the lowest priced active listing in the subdivision.
Beach Fanatic
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
Since you asked:
The property was most recently listed at $899K, and now the minimum bid (with fees) that you would accept at this one day auction is a whopping 8% below that.
In my opinion, in this market that is joke. Why are you allowing these sellers to waste your time?
Since you asked:
The property was most recently listed at $899K, and now the minimum bid (with fees) that you would accept at this one day auction is a whopping 8% below that.
In my opinion, in this market that is joke. Why are you allowing these sellers to waste your time?
Edited
Beach LoverAuthor
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
To answer your question, I don't believe that our time is being wasted. This property has now been marketed on a national level. This isn't an out of the line asking price by any means.
To answer your question, I don't believe that our time is being wasted. This property has now been marketed on a national level. This isn't an out of the line asking price by any means.
Beach Fanatic
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
Can you explain what happened with the last sale at $930k?
The Walton County records show that the house changed hands twice on April 7--once at $930k and then again at $1.45 million.
The sellers are the builders of this home so there is no original purchase price for the house. The home was last listed for a short period of time at $899,000 and previously at $995,000. We sold the last home in Palmeira at auction for $930,000.
Can you explain what happened with the last sale at $930k?
The Walton County records show that the house changed hands twice on April 7--once at $930k and then again at $1.45 million.
Beach LoverAuthor
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
The winning bidder flipped the house.
The winning bidder flipped the house.
Beach Fanatic
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
Quite impressive--smells a bit fishy to me though.
The winning bidder flipped the house.
Quite impressive--smells a bit fishy to me though.
Beach LoverAuthor
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
I don't know the details.
I don't know the details.
SoWal Insider
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
Good Answer!
.
I don't know the details.
Good Answer!
.
Beach Fanatic
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
A $520,000 profit inside of 24 hours? My, my ... that is an interesting development. I'd love to see those two bank appraisals.
A $520,000 profit inside of 24 hours? My, my ... that is an interesting development. I'd love to see those two bank appraisals.
Edited
Beach Fanatic
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
"...I understand about auction reserves for rare and collectable items (that people really want) is pretty much the norm , but in the case of house auctions, having a reserve price hasn't been as successful as the owners' had hoped..."
As someone who rode the Branson, MO real estate boom in
the early '90s a little bit too long and then tried to unload
via an auction, I will "second" that.
Of course, the dollar$ where several magnatudes down
from what we are discussing here.
"...I understand about auction reserves for rare and collectable items (that people really want) is pretty much the norm , but in the case of house auctions, having a reserve price hasn't been as successful as the owners' had hoped..."
As someone who rode the Branson, MO real estate boom in
the early '90s a little bit too long and then tried to unload
via an auction, I will "second" that.
Of course, the dollar$ where several magnatudes down
from what we are discussing here.
SoWal Insider
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
And the winner is?......
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And the winner is?......
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Beach Fanatic
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
"And the winner is?......"
Probably PAG, as they got their money up-front, I would imagine.
"And the winner is?......"
Probably PAG, as they got their money up-front, I would imagine.
Beach Fanatic
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
and the "winner" is ????
and the "winner" is ????
Beach Fanatic
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
Nobody knows??
Nobody knows??
Beach Lover
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
I don't believe there was a sale. The auction had not begun when I left at 1:45PM. There were a few folks around, but I'm not sure there were any registered bidders.
I don't believe there was a sale. The auction had not begun when I left at 1:45PM. There were a few folks around, but I'm not sure there were any registered bidders.
SoWal Insider
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
Did they have snacks??
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I don't believe there was a sale. The auction had not begun when I left at 1:45PM. There were a few folks around, but I'm not sure there were any registered bidders.
Did they have snacks??
.
Edited
Beach LoverAuthor
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
The property did not sell. We will be taking offers on the property. Seller says bring ALL offers.
The property did not sell. We will be taking offers on the property. Seller says bring ALL offers.
Beach Fanatic
Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0
"...The property did not sell"
(Gomer Pyle voice)
Surprise! Surprise! Surprise!
Didn't sell noth'n at our auction (mentioned above) either.
Did have to pay a whole bunch of "promotion" expense to the
auction company.
In addition to renting the conference room at the motel.
"...The property did not sell"
(Gomer Pyle voice)
Surprise! Surprise! Surprise!
Didn't sell noth'n at our auction (mentioned above) either.
Did have to pay a whole bunch of "promotion" expense to the
auction company.
In addition to renting the conference room at the motel.
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