« Mortgage Interest Rate Trend Change | Mortgage | Mortgage Business During Labor Day Week »
About Auction Homes Sales
Sellers are putting their homes on the auction block in hopes of getting a quick sale. "We do for real estate what a Fourth of July sale does for retailers," says Lynn Gardner, the owner of Homeland Auctions Inc. in Leesburg, Va., which auctioned 57 homes in this year's first half, up from 11 in the last six months of 2005.
Home sellers tend to show more interest in using auctions when the housing market is weak. The last time auctions were popular was in the late 1980s and early 1990s when home prices fell sharply in many parts of the country.
Ahorre August 17, 2006 01:51 AM | About Mortgage and Home Loans | Business | Franchise Business