Real Estate Auction Sets $456,500.00 Cash Market Value for Chincoteague island Virginia home netting owner $276,000.00 increases over 2002 purchase price.

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Services for Real Estate Pros with The Auctionarium, Inc

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SATURDAY AUGUST 18'th
CHINCOTEAGUE ISLAND BAYVIEW HOME
w/5 POSITIVE CASH FLOW RENTAL UNITS
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Real Estate Auction Sets $456,500.00 Cash Market Value for Chincoteague island Virginia home netting owner $276,000.00 increases over 2002 purchase price.  

Saturday August 18th during a spectacular "sunset auction" overlooking the Chincoteague bay sold a home for the "present cash market value" as determined by 4 registered groups of bidders each with the required $25,000.00 bid deposit.  

Billy Burke, CAI AARE Auctioneer is the founder of REauction.com The Industry Standard has stated his goal is to change the way real estate is sold in America by opening the process by using 2000 years of auctioneer traditions combined with 21st century technology.   Burke has pioneered the Internet real estate industry selling his first property on-line in 1994 founding the first B2B internet auction in 1998 and signing the largest auction contract in history in 2001.  

The company has developed a menu of auctioneer services delivered by NAA certified auctioneers to create an exciting event around the sale of a property proving DIGIBIP's or Digital Bidder Information Packages people may download on-line and review in the comfort of their home to decide if they even want to look at a property.  

Marketing is truly the service auctioneers provide and as one of only 321 Accredited Auctioneers of Real Estate (AARE) a level of service higher than 99.% of real estate professionals are capable of delivering.  

Pre-auction estimates were $400,000.00 to $600,000.00 for the unusual property featuring a bay-view a funky party house with 5-rental units overlooking the water a few miles from the seashore.   Aerial photography was key in developing commercials for cable TV, Youttube, the event was posted to thousands of websites like eBay and Craigslist in addition to http://www.reauction.com/ there was a dedicated e-mail blast to over 300,000 subscribers and this auction was featured on auction calendars and pay for information websites across the nation.


PreviewSunsetStreet ViewFrom the air

The property was advertised in newspaper networks in MD DE DC PA NJ reaching over 2-million potential readers which produced the second high bidder at $410,000.00 a Maryland real estate investor.  

The third place bidder an executive from Western Maryland set their value at $400,000.00 was drawn in by small "Bandit signs" placed on the causeway leading to the Island.  

Winning bidder is a general contractor, builder, investor, apartment building owner from Long Island, NY who was delivered from the companies private "opt-in" e-mail list of people who register to receive auction notifications. They make a point to let people know their e-list is never rented or sold)  

The fourth bidder group were a pair of locals totally blown away when the Maryland investor opened the bidding by crying out two hundred thousand dollars to the auctioneers request of an opening bid.  

Bidding quickly escalated with the two groups of active bidders on-site and the investor from Long Island New York taking advantage of both Internet and telephone bidding through an auction assistant.  

Four hundred thousand dollars do we hear four hundred ten now yes four hundred fifteen on the phone is there any raise over $415,000 do you want to call anyone and ask if you should bid more?  

The property was sold with the buyer paying all the commissions and rebating the sellers' $3,495 auction entry fees without contingency and a 30-day hassle free closing.  

The auction method of marketing real estate that has been regulated since Roman times proved once again after 4 weeks of preparation & marketing the pricing opened and closed in 6-minutes 34 seconds.  

The seller was both relieved and pleased that amidst all the negative news of a tanking real estate market combined with mortgage lenders being forced to pay the piper for past sins, the value of her property was determined by a marketplace of eager cash buyers ready for a 30-day closing.  

"Thank you very much I am glad you took this burden and stress out of out lives..." said Laura McCormack owner of the property she continued "I would like you to do my fathers property after he moves in with us later in the year."  

REauction.com is setting industry standards being the only nationwide real estate auction company in the country to publish its price list, utilize state of the art marketing and is building a network of auction listing agents in Maryland, Virginia, Michigan and California with affiliates providing certified real estate auctioneer services to 50 states.  

People who think that real estate auctions are new don't realize that realtors have only been around less than 100-years and monopolized real estate through control of the MLS.  

A properly conducted professional real estate market will deliver 100% of the cash value 100% of the time.



Do you own real estate and want to sell for cash with no seller commission?



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                                                      TEMPERANCEVILLE AUCTION RESCHEDULED
                                        EASTERN SHORE TEMPERANCEVILLE VIRGINIA HOUSE & 4 LOTS
                                                       SEPTEMBER 29th 2007 at 11:07 AM
                                                                   Click Here for details

TWO MICHIGAN AUCTIONS NEXT WEEKEND AUGUST 25'th
Executive Home on 1.7 Acres
12501 Wamplers Lake
Brooklyn, MI 49230

Estate of Sophie Seikeirski must sell Home on 2. Acre Lot

1536 W. Auburn Rd
Rochester Hills, MI 48309

PAIR OF NEW JACKSON HOLE LUXURY HOMES
September 15th



                                                    William F. "Billy" Burke, CAI - AARE
                                                REAuction.com - The Industry Standard!
                                             Certified Nationwide Real Estate Auctioneer
                                                             866 - 486 - SOLD
                                                                www.REAuction.com

                        

                      Member National Auctioneers Association - Maryland State Auctioneers Association
                                                               VAAR 2907-003400

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Rainer
6,950
waey wyqw
wyq34y - Dell, MT
Congratulations on the sale and I applaud your innovative and thorough marketing strategy.
Aug 19, 2007 12:29 AM #1
Rainer
27,578
Billy Burke
The Auctionarium, Inc - Rancho Mirage, CA
CAI - AARE
Thank you Troy
Aug 19, 2007 03:21 PM #2
Rainer
45,936
Charles Parrish
Auction Brokers & Investors United - Baltimore, MD

Billy,

That was a great sale.  I own a Baltimore Auction Company, Aucton Brokers.  If you ever need anything sold in my area, give me a call. 

Charles Parrish

www.auctonbrokers.net

 

Aug 19, 2007 07:10 PM #3
Rainer
27,578
Billy Burke
The Auctionarium, Inc - Rancho Mirage, CA
CAI - AARE

Hi Charles ,

 

Thanks for the kudos.

We work nationwide, I thought you knew that.

Billy 

Aug 19, 2007 07:38 PM #4
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Rainer
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Billy Burke

CAI - AARE
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