Real Estate Auction Wave Led by Pacific Auction Exchange

Thanks to the efforts of pioneering realtors, home buyers and sellers are no longer confined to the limited, lengthy and sometimes fruitless process of MLS listings and bilateral negotiations. Real estate auctions, the ultimate in free and fair market competitiveness, are fast becoming the preferred mode to match home buyers and sellers.

On the crest of this wave are companies like Pacific/Auction Express Inc., led by owner, Judy Cline, herself a Real Estate Broker in fast growing Placer County, California. “Everyday we’re seeing more and more interest in real estate auctions,” says Cline. “People want to get to the ‘bottom line’ faster and more cost effectively. Real estate auctions accomplish those goals. They’re no longer associated with foreclosures and are now mainstream and here to stay with aggressive growth.”

According to the National Auctioneers Association, the auction industry as a whole grew 7% in 2006, generating over $250 billion in sales. The most significant growth came in the real estate sector where auction sales increased 12% with over $17 billion in revenue for 2006. Art and antique auctions, longtime leaders in the auction industry, have been steadily outpaced by real estate auctions in recent years.

How does it work? “There are two basic types of auctions,” says Cline.

“Minimum Bid” auctions start with a minimum bid (published or a silent reserve). These typically attract more conservative sellers.
“Absolute” auction where the property is simply sold to the highest bidder. Absolute auctions usually generate the most interest and are very exciting, especially in a seller’s market.
Pacific Auction Exchange has just announced they have been retained to auction SP3, El-Dorado County’s only State Certified and Registered Vineyard/Nursery in Pilot Hill, California. The auction will be held on site, Saturday, May 19, 2007 @ 1:07 pm, with previews available on May 5 and May 12.

SP3 vineyard/nursery resides on approximately 40 acres with 10 of those acres in vine production. The nursery produces and sells from 87 different wine varietals and clones. To see more information about this auction, please visit: www.1441houndhollow.com.

About Pacific Auction Exchange:

Pacific Auction Exchange (“PAX”) www.paxauctionexpress.com , the fastest growing real estate auction company on the west coast and the only franchised real estate auction company in the United States, has continued to grow since its inception in 2001. PAX has performed over 2500 real estate auctions in California and currently has 48 franchises. PAX is currently offering real estate auction franchises in various regions of California. “In today’s tough market, realtors need every tool at their disposal,” exhorts Cline. “PAX assists new franchisees in establishing real estate auctions as part of their marketing and income generating arsenal.”

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