More and more these days real estate investors are looking to the Internet as a one stop shop for everything real estate. Industry news, property listings, market trends and reports are just the tip of the iceberg when it comes to what is available to the Internet savvy investor. There is a myriad of commercial property listing sites such as Loopnet, Catylist, Property Line, Commercial Source and CoStar just to name a few, as well as major brokerage firms offering online access to their own company listings. The Internet has made it possible not only to search for properties located around the world but to do it from the ease and comfort of your home or office. LFC’s auction platform is the natural extension of this migration for real estate buyers and sellers to connect in a transparent and convenient marketplace.
As commercial real estate investors/developers continue to feel the pinch of tightening credit standards by lenders, declining commercial real estate values, challenging leasing environments and the deterioration of property incomes, many find themselves in cash generation mode. Sellers are searching for the most efficient strategies to market and sell their products. Proactive and realistic sellers have turned to auctions, which have proved to be an effective avenue for sellers anxious to clear their balance sheets. This is good news for buyers who recognize that auctions are a tremendous resource right now; it is a great time to secure low-priced assets in markets with strong long term fundamentals.
As the story goes, the commercial real estate market generally follows the path set by its residential counterpart; auctions will be more prevalent in the commercial market during the upcoming years of recovery. Rick Sharga, senior vice president for Irvine, CA. based search engine RealtyTrac says “Real estate is now at a tipping point. As more investors are buying properties through online auctions, that will become more of the general real estate process.” Recently an article titled "No place like home page", posted on Mediapost.com, highlighted the importance of auctions right now for the real estate industry, “Real estate attempts to avoid foreclosure by turning to online auctions…The internet might just be the thing for an industry desperate to avoid its own foreclosure”
Word to Buyers: take advantage of this perfect storm in the real estate industry, recession is not the time to be sitting on your hands!
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7 comments:
Auction is becoming great now days and its also good in real estate.
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Many people are really into investing into either commercial or residential properties these day - knowing that investing on these properties will get them a huge benefit in the future as their investments grow.
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