Property Auctions - An opportunity for buyers and sellers

Property auctions are seeing more action than at any time in the recent past. The proof that auctions are not merely for "stigmatized" properties is in the numbers: Nationally, residential real estate auctions generated some $16 billion in sales during 2006, a 12.5 percent jump from the year before, according to the National Auctioneers Association.

Residential auctions are now the fastest-growing segment of the auction industry, which expects to gross nearly $265 billion in revenue this year. Sellers who need or want to avoid high carrying costs are finding the the bidding process may be the best way to find a qualified buyer fast. Buyers can often land a great price since they're dealing with highly motivated sellers.

Projects that will bring the biggest return

*Home rehabbers who are considering a move in the not too distant future should focus mostly on exterior upgrades.

Projects that will return the LEAST amount of money

1. home office remodels
2. installing a back up generator
3. adding a mid-range sunroom

Projects that will return the MOST amount of money

1. Siding replacement (upscale)
   
2. Deck addition (wood)
   
3. Window replacement (wood)
4. Kitchen remodel (minor)
   
5. Mid-range bathroom remodel