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.
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