FRE in the News

FRE's newest auctions have been creating quite a buzz. Not only have releases about the auction been featured on numerous websites such as Yahoo News and Forbes.com, journalists have included stories or briefs about them in print and online journals as well.

On January 21, Peter Mosca of RealtyTimes included FRE in his article "Builders using real estate auctions to stimulate business".

On the 20th our auction of 'Distinct and Unique' homes in Denver, Colorado was featured in The Rocky Mountain News in an article entitled "High-end homes up for auction" by John Rebchook.

The auction of 16 brand new condos at Brava was featured on January 21 in The San Bernardino Sun and Inland Valley Daily Bulletin in The Bizz section.


And finally, the Brava auction was included in The Desert Sun on January 18 in an article entitled "Retailers excited by arrival of the season" by Debra Gruszecki and Monica Torline.

Above: Interior shot of the Denver Brownstones from The Rocky Mountain News article

Happy Holidays and Good Tidings for Real Estate!

During the holiday season it is important to look on the bright side of things, even when it comes to business.

There have been so many reports about the doom and gloom in the real estate industry that it may be hard to see the silver lining in all of this—that tough times inspire innovation and reinvention for the better. When faced with a crisis, many people respond by demanding change and then implementing it. And though it can be difficult to pinpoint what strategies will work to make a more productive, successful future in any industry, the effort is well worth it in the end.

In the spirit of innovation and reinvention, we are seeing that online auctions are now being considered by those who previously wouldn’t have taken a second look. This program for marketing and sales, often brushed off as a means used by distressed builders and developers, is garnering the attention of healthy sellers looking to sell brand-new, upscale inventory quickly and efficiently and buyers looking to buy a top-of-the-line home at a price they dictate.

In difficult times it can often seem safer to stick with tradition, to follow the standard ways of doing things— which in real estate means selling via traditional agent listings. Right now, though, people are waking up to the fact that these new, challenging times in real estate call for a system that works in both good times and bad, that produces solid buyers and encourages quick sales.

That system, of course, is the online auction method. The online auction gives buyers the means not only to purchase a house conveniently but also to educate themselves sufficiently beforehand so that they can buy confidently. All documents necessary for due diligence are online—disclosures, purchase contracts, warranties, etc.—making the transaction as straightforward and accessible as possible, which means no surprises when it comes time to sign contracts. Plus, buyers feel empowered as never before, bidding to set prices that reflect true market values.

Online auctions help sellers too. By focusing attention on their properties and then generating excitement and urgency through the short buying timeframe set by the bid deadline, online auctions elevate sellers’ inventory far above the sea of homes for sale elsewhere. Serious buyers beyond the local market can be more easily found, as well, and then can buy from the comfort of their home computer.

Online auctions, then, have driven real estate buying and selling beyond conventional means, bypassing the limitations set by geographic boundaries and the hassles associated with long-winded traditional sales.

This is an exciting time, when more and more healthy, solid builders and developers—and better educated buyers—are giving significant credence to the online auction solution. Just look at our current auctions in Palm Desert, CA and Denver, CO for evidence: both auctions feature amazing, upscale properties that are brand-new, feature distinctive, impressive architecture, and are located in premier locations; plus, the builders are both highly respected and doing well financially. These auctions are builder inventory closeouts, not builder closings.

So now we can see the positive side in all of this real estate gloom— that the future of real estate rests in reinvention and in taking a look at methods once overlooked.

This is the time for online real estate auctions. Spread the word.

Prospective Buyers Interested in Luxury Palm Desert Real Estate Respond Positively During First Week of Campaign

Above: One of the two community pools at Brava

If the first weekend of our auction of 16 luxury condominiums at Brava, the Tuscan-style community in Palm Desert, is any indication, this campaign will be garnering an amazing amount of attention from interested buyers locally, nationally, and even internationally—with many Canadians already intrigued by the prospect of owning a beautiful new home in the picturesque Southwest desert.

Whether it’s the unprecedented community design—Brava features ‘Toscana’ paver streets, stone exterior detailing, and amenities like two community pools, a fitness center, and a clubhouse—, the combination of relaxing natural wonders and exciting cultural activities that Palm Desert offers, or the low minimum bids—one fully furnished model starts at $99,000—people are already clamoring to be one of many bidders on these homes.

Stay tuned for more updates on this auction, and more on others as well!

Click here to see information on our auction of brand new homes in DENVER!

Above: The interior of one of the Denver Brownstones

Online Auctions: Increasingly Seen as Viable Option for Any Builder or Developer

Online real estate auctions are losing their stigma as a last ditch effort by sellers who are either desperate to sell new inventory or are trying to sell distressed properties that very few people actually want. Increasingly, builders and developers who are financially sound are reconsidering their previous assumptions regarding auctions and are now viewing the online auction platform as an effective way to expedite sales.

Our two newest campaigns offer examples that may surprise people. Both builder closeouts of upscale new homes, the campaigns shatter all expectations that auctions are for the struggling or defeated.

The first auction is of remaining inventory in the Tuscan-style community of Brava in Palm Desert. The 16 luxury townhomes are set within a community built to uphold exceptional standards. ‘Toscana’ paved roads, stone detailing on the units’ exteriors, and amenities such as an fitness center, clubhouse, and two pools, are all evidence that Brava offers residents the country club lifestyle. Located in the heart of Palm Desert—at the prestigious intersection of Country Club and Monterey—Brava brings the class and old-world charm of Italy to the serene desert landscape.

Above: The exterior of a unit at Brava in Palm Desert

The second auction is of remaining homes spread over three communities in Denver, Colorado. Of the eight homes, four are upscale multilevel Brownstones located in the Westerly Creek neighborhood of the master-planned community of Stapleton; three are large estate homes in the Eastbridge community of Stapleton; and one is a ranch style custom home in the charming town of Golden. All the homes are over 3000 square feet, with views of the surrounding mountains and access to both the city center and the great Colorado outdoors. Built with amenities such as a private elevator and rooftop terrace (Denver Brownstones), a Jacuzzi spa and large yards (Urban Estates), and a large ranch lot with access to trails and hiking (Golden), these homes are the perfect match of luxury and functionality.

Above: One of the penthouse terraces at the Denver Brownstones

Above: The exterior of one of the Urban Estates for auction in Stapleton

In both cases, the developers—well known and highly regarded in their respective regions—chose LFC to auction the properties on our residential real estate website Freedom Realty Exchange, FRE.com, so that sales could occur quickly and efficiently, while still promising reasonable prices, even in the midst of difficult housing markets.

With minimum bids half of the suggested retail prices, these auctions give buyers the authority to push the prices as high as they are willing to go, giving a good indication of what the market value truly is. Sellers don’t have to drive prices lower until buyers bite but can instead watch prices organically rise to the natural level.

Builders, developers, and buyers are all looking beyond the taboo of “auctions” and realizing that online auctions offer a technology-driven, convenient and transparent means of buying and selling real estate that is unmatched by any other method. The accelerated marketing platform makes sense in bad times and good, a solution for sellers in every situation in the market.

The builder closeout auction of homes in Palm Desert launches at FRE.com/265R4 on December 17, while the builder closeout of homes in Denver, Colorado launches at FRE.com/284R4 on December 19.