Ive noticed an increase in home auctions. Why?
A. With the looming industry problems, lenders have had enormous increases in the amount of homes they have foreclosed on. As you know, lenders are not in the business of owning properties and do not want all of these non-performing assets on their books. That is a good thing for consumers because the lenders have become very motivated to liquidate these properties as quickly as possible. Large public auctions have proven to be a very successful way for lenders to accomplish their goal of selling numerous properties quickly. This lender motivation means great deals for consumers. Our large scale public auction venue is a win-win scenario because it allows lenders to liquidate huge numbers of homes quickly and provides great auction prices to consumers.
