Jackson Hole Auction Company Sets Annual Fall Real Estate Auction

Victor, ID – Jackson Hole Auction Company (www.jacksonholeauctions.com) announces the Annual Fall Real Estate Auction from Eastern Idaho to Jackson Hole and across Wyoming on September 20, according to William F. Burke CAI AARE, auctioneer and president of the company.

Burke said, “We are actively seeking property owners in the Jackson Hole market areas who want to auction their property for 100 percent of the current market value with no seller commission. to enter their properties prior to the Monday September 1st deadline” the last day sellers may register.

“As one of only 322 Accredited Auctioneers of Real Estates (AARE) in the United States, we can deliver a higher level of service than 98.6% of real estate professionals in the marketplace,” he noted.

Burke added, “Last year we auctioned two homes in Teton Springs and delivered $660,000 and $715,000 for a private seller who had purchased based on pre-construction appraisals with inflated resale values of $1.4 to $1.6 million each. Our seller could not make the $18,000 payments for property in a subdivision that only had two arms length transactions during 2007, and they had no hope of selling using traditional methods.”

“If you read the newspapers, listen to the radio or watch the news on TV, the message is nothing but doom and gloom about the real estate market,” said Burke. “If you are trying to sell using the broken list, price, put up a sign and place it in the MLS methods, they are correct and your property can sit on the market for years with no bids or contingency “offers” while losing value each and every day.”

He continued, “People selling real estate in the Jackson Hole market think they are ‘immune’ to the nationwide correction in real estate values, with almost every agent saying the same things agents in Orange County, California, were telling us two years ago, which is ‘It can’t happen here, there is too much demand, prices will never go down…'”

“July 2008 saw an actual 28 percent across the board decrease in Orange County property values,” according to DQnews.com, explained Burke. The Jackson Hole market has seen the first signs of the nationwide real estate turmoil with public records revealing a 40% percent decrease in sales transactions from this time last year and a four to five percent decrease in property values.”

Burke said, “This could be the tip of the iceberg or the prices can ‘hold the line’ depending on a number of factors outside of the control of sellers, agents or the local market.”

“The good news is an auction is an event where bidders ‘win’ the property and are happy knowing they only paid one bid more than someone else was willing to pay,” said Burke. “Competitive bidding will deliver 100 percent of the present cash market value for a property on a specific date in “as-is” condition with no contingencies and a quick 30-day closing with no seller commission.”

Burke explained that the buyer pays the commission to the auctioneer, along with the escrow and closing fees in the spirit of 2,000 years of auction traditions. He noted, “This is the selling event of the season. If a property owner wants to sell their property on September 20th, this auction event will simply deliver more marketing firepower than the local agents are capable of delivering.”

Broker participation is encouraged, and if a property is listed with an agent, Jackson Hole Auction Company may pay a referral fee to that agent. Licensed agents are paid a 3% Buyers agent for representing winning bidders at auction. It’s a win-win situation for buyers, sellers and the local real estate community.

For more information on buying or selling, visit www.jacksonholeauctions.com or call toll free 866-486-SOLD (7653) or 410-957-4786.

Jackson Hole Auction Company is a wholly owned subsidiary of Progressive Auction Exchange, LLC who is an FDIC and federal government certified nationwide real estate auctioneer.