SOURCE: SURE Real Estate

SURE Auction Team

February 21, 2011 23:34 ET

SURE Real Estate: Real Estate Auctions, Not Just for Banks Anymore

DEL MAR, CA--(Marketwire - February 21, 2011) - An exclusive ocean view property located at 1904 Balboa Avenue in Del Mar, California will be auctioned onsite on March 3, 2011 at noon. In the past, Americans typically associated real estate auctions as distressed properties that were being sold by banks on the courthouse steps. However, in today's market, traditional sellers are turning to this unique method to move their properties in a compacted time frame and in a way that best determines fair market value on a given day.

The auction system dates back to Roman times and has for centuries been used for the sale and purchase of property, goods and services. It is considered the fairest method of purchasing a property at the real market value and today is commonly used throughout Europe, Australia and New Zealand. 

Giving credibility to the process, the City of Del Mar recently chose the auction process to sell their "Balboa Lot," a property with panoramic views of the ocean and mountains. The auction process represented a fast and transparent method of obtaining a buyer, and resulted in a sale price, in this case, of $4.4 million. "Auctions are one of the most effective ways to expedite the sale of real estate, and in some cases it is a far more effective way to expose and market high-end properties," said Steve Uhlir, Broker, SURE Real Estate. Steve works in cooperation with Jim Gall, Champion Auctioneer and President of Auction Company of America. Jim has sold over 16,000 properties in 46 states since 1979 and is considered one of the leading auctioneers of high-end real estate in the United States. Together they have successfully auctioned multi-million dollar properties throughout the southwest.

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