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Home Sequim Real Estate

Sequim Real Estate Auctions

Chuck Marunde by Chuck Marunde
September 4, 2011
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A client asked me about Sequim real estate auctions and do we even have them?  First, let’s be clear on what we are talking about when we use the word “auction” in real estate sales.  I read an article written by another real estate professional, and the author intended to write about auctions, but it went on to describe the foreclosure process.  Oops!  Unfortunately that author got it wrong and mixed up two entirely different real estate topics.  A foreclosure ends in a Trustee’s Sale where people can bid on the property at the Clallam County Courthouse on Friday’s at 10:00 a.m.  An auction is a horse of a different color.  An auction in real estate sales today refers to a process where an owner puts a property up for public auction to the highest bidder, but it is not a foreclosure sale.

Sequim Real Estate Auctions

Sequim Real Estate Auctions

Sequim Real Estate Auctions v. Foreclosures

You can read more about foreclosures in the many articles I’ve published on this site by searching foreclosures.  I have detailed descriptions of the entire process, including the foreclosure checklist and timeline I used when I practiced law and did foreclosures myself.  Here are some of the many articles on Sequim foreclosures:  Sequim Foreclosures.

Auctions are different.  Because the real estate recession has hit many home sellers so hard and because buyers are few and far between, private real estate auctions have become the latest fad.  The truth is, as with so many gimmicks, they make more money for the people promoting the auctions than they do for home sellers.  But in some areas, and I mean only a few around the country, private auctions have sold homes that simply could not get sold otherwise.  As you might guess, this means those homes were typically sold at garage sale prices.  But what about Sequim real estate auctions?

Sequim Real Estate Auctions Not So Much

Several people have tried to do private auctions in Sequim and failed.  One was a past client of mine who went through the whole process of signing up for and paying one of the prominent national auction companies.  After a lot of hope and high expectations that this would finally sell the home they had not been able to sell for about two years and was not threatened by a possible foreclosure, this couple tried a private auction.  It did not work.  They never got the bids high enough.  Not even close.

I’ve seen several others try private auctions, but to my knowledge, all have failed to get a reasonable price in the Sequim and Port Angeles areas.  There are not enough qualified buyers in our small market to make auctions work.  At least up to this point.

Whatever you decide to do to sell your home, make sure you understand your options and how each of your options actually work, including marketing your own home as a FSBO, listing it with a Realtor (yours truly), or trying to do private Sequim real estate auctions.

Last Updated on September 4, 2011 by Chuck Marunde

Tags: Sequim Real Estate Auctions
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Chuck Marunde

Chuck Marunde

Chuck grew up in remote Alaska, graduated from the University of Alaska with a degree in Economics and Teacher Certification, and after teaching high school for two years, went to law school at Gonzaga University in Spokane, Washington. He served four years as a Captain and JAG in the USAF at Nellis AFB in Las Vegas. After practicing real estate law for 20 years in Washington, Chuck founded iRealty Virtual Brokers covering Sequim and the beautiful Olympic Peninsula. He is the author of 2,200 real estate articles and a dozen real estate books, and he produced over 100 real estate videos. Chuck combined his love for real estate and technology to create a massive Internet presence, and his articles and videos and books have been viewed by millions. Chuck is a well recognized real estate expert and his counsel is sought by other brokers and practicing attorneys around the country. Buyers from New York to Hawaii and from Florida to Alaska seek him out to retain him as their buyer's agent, and home owners around the State of Washington seek him out because of his new Flat Fee Listing Service. 

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  • Home
  • Search MLS
    • Sequim MLS
    • Sequim MLS Map Search
    • Port Angeles MLS
    • Port Townsend MLS
    • San Juan Islands MLS
    • All Islands MLS
    • How to Search the Sequim MLS
  • Videos
    • Sequim Videos Q&A
    • Buyer Videos Part 1
    • Buyer Videos Part 2
    • Buyer Videos Part 3
    • Buyer Videos Part 4
    • Living in Sequim Video Channel
  • Books
    • Sequim Real Estate for Buyers (Free eBook Updates Forever)
    • Sequim Real Estate: A Buyer’s Guide (Paperback)
    • Escaping California to The San Juan Islands
      • Menu Below
    • Buying & Selling Real Estate in The Rain Shadow
    • Real Estate From Bricks & Mortar to High Tech Virtuality
    • The Seven Myths of Selling Your Home
    • Buying Your Retirement Home
    • The New World of Marketing for Real Estate Agents
  • Agents
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