RealEstate1

A real estate auction works much like an auction of any other type.  You come in, compete with other bidders and hopefully walk away with one of the better homes paying half of the value of it.  When those homes are in areas like California or Florida, with values in the millions…well, you can just how prosperous the prospects really are.

Big money for big properties is often money well spent.  High end auctions, as they are often called, start with bidding at $1.5 million, and the prices only go up from that point.  An example of this is the 1.7 acre estate that recently when on the auction block.  This piece of real estate has some of the best features including its structure, built of Indiana limestone.  It has 28 foot domed ceilings and heated floors.  The appraisal of the property came in at $4 million.  The minimum bid here is $2 million.

The National Auctioneers Association says that real estate auctions are the fastest growing type of auction.  In 2007, the value of real estate auctions rose by 5 percent to nearly $17 billion.

If you have the money, real estate auctions could be one of the better opportunities for investments. 

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