LANDFLIP.com Launches New Land Auction Tab as the Number of Real Estate Bidders Surges

As auctions become an increasingly popular marketing tool for selling property, and investors race to ‘name their price’, LANDFLIP.com launches a new land ‘Auctions’ tab to capitalize on the bidding frenzy taking over the real estate industry.

Atlanta, GA — November 18, 2008 — In recent years, real estate auctions have become increasingly popular among sellers, agents and other industry professionals who want to create a sense of excitement and urgency to move property quickly. Auctions have also become the preferred method of purchasing property among savvy buyers and investors searching for the best deals in the industry. In response to this trend, LANDFLIP.com has launched a new land ‘Auctions’ tab, featuring homesites, farm land, hunting land, commercial lots and other types of property across the United States. In addition to luring eager buyers, the new section is quickly becoming prime real estate for land auctioneers with new listings eager to reach prospective bidders.

While residential home sales and values have plummeted sending the market into distress, land sales have remained steady, and rural land property values have continued to appreciate. In 2007, auction sales grew 5.3 percent, with agricultural, residential and commercial land auctions comprising a significant portion of the market. Additionally, a number of prominent real estate firms have launched auction divisions to capitalize on this growing trend, and buyers are increasingly scouring the Internet to learn more about how they can strategically profit from auctions to diversify their portfolios. Read more

Property auctions are going, going…going stronger than ever

While large American newspapers are losing readers, cutting staff and scraping by on fewer advertising dollars, they’re expanding in one area–notices of property sales.

These fruits of foreclosures hang heavy in the back pages.

Distressed properties — the growth sector of a troubled economy — are often sold at auction.

Almost $60 billion of property was auctioned last year, and the National

Association of Realtors predicts about 30 percent of all real estate will be auctioned in 2010.

Individual states regulate auctions and auctioneers, but standards vary.  About half have enacted auction and auctioneer licensing statutes, according to Steven L. Good, author and Chairman and CEO of Sheldon Good & Company.

The National Auctioneers Association has posted its Code of Ethics at www.auctioneers.org. Read more