Archive for the ‘MUST SELL Auctions’Category

REITbid Brings Liquidity to Illiquid Investments [Press Release]

New Online Auction Platform Gives Non-Traded REIT Shareholders and Investors Simple, Secure and Transparent Way to Buy and Sell Shares

NEWPORT BEACH, Calif., Feb. 4, 2013 – REITbid today announced a new online auction platform that matches buyers and sellers of shares in existing non-traded public real estate investment trusts (REITs). This new program is powered by an advanced and proven online auction technology (FRE.com) that is secure, easy to use, transparent and designed to create liquidity in what are typically considered illiquid assets.

Non-traded REITs have issued nearly $80 billion of equity during the past ten years to more than 2 million shareholders1, a number that is projected to rise over the next few years. As the volume of investors increases, so does the demand for shareholders who need to liquidate their shares. With approximately 2/3 of today’s top closed non-traded REITs unable to meet the liquidity demands of their shareholders2, those seeking liquidity often turn to low-ball mini-tender offers from predatory investment firms. The Securities and Exchange Commission warns “mini-tender offers have been increasingly used to catch investors off guard” when it comes to determining the value of their shares.

The REITbid platform was founded by a team of senior real estate executives led by William Lange and financed by Ray Wirta. Lange has more than 35 years experience in real estate auction marketing and is chairman of the LFC Group of Companies, a pioneer in online auction solutions. Wirta has more than 40 years experience in commercial real estate and is the former chief executive officer and a current director of CB Richard Ellis (NYSE:CBG). The team made the decision to create REITbid based on industry-wide demand for a viable solution for achieving fairly priced liquidity in non-traded REIT shares.

“Shares of existing non-traded REITs may provide attractive investment opportunities that focus on current dividend yield and appreciation potential,” said William Lange, REITbid principal. “However, a drawback to investing in non-traded REITs has been a lack of liquidity. REITbid not only helps to resolve this issue with an easy-to-use online auction process, it helps existing shareholders achieve fair market pricing based on the anticipated high volume of buyers and sellers who will participate in the auctions.”

REITbid Advantages

In addition to offering a liquidity option and streamlining the entire process of buying, selling and transferring shares, REITbid provides several other unique advantages including:

  • User-friendly platform that is easy enough for virtually any qualified investor to use
  • Transparency – provides instant access to non-traded REIT metrics and links to SEC filings and sponsor data; users can also view all pending bid activity on each auction
  • Convenience – ability to bid on and find documentation about available non-traded REITs 24 hours per day
  • Security – strict multi-layer protection of all documents and personal data

“REITbid is engineered to become the industry’s most advanced and comprehensive solution for trading shares of existing non-traded public REITs,” adds Lange. “It provides transparency for buyers and sellers, giving them an efficient method for valuing shares based on a REIT’s net asset value (NAV) and other key metrics.”

About REITbid

REITbid is owned by Share Trading Associates, LLC of Newport Beach, Calif. Share Trading Associates is comprised of a team of real estate and auction professionals with extensive real estate investment experience. REITbid auctions are operated under a license agreement by JRL Capital Corporation, a FINRA-registered Broker-Dealer since 1981. For more information, visit www.REITbid.com.

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1 Blue Vault Partners, NAREIT

2SEC filings data as of June 30, 2012. Based on closed non-traded REITs ranked by total assets.

Bank-Ordered Auction for Senior Living Apartments

Bank-Ordered Online Auction
±32,000 SF Senior Living Apartments in Two Rivers, WI

$199,000 Minimum Bid

*Broker Participation Offered*
All bids must be submitted by March 21st at 5pm
Visit website for more property and auction details;
FRE.com/151L1

Online Auction for a Stunning Estate Home in Duluth, MN

This auction is for a beautiful 5-bedroom, 4.5-bathroom historic brick estate home in Duluth, MN, which was originally built by lumber baron Edwin Bradley in 1905. The property, totally redone from top to bottom, consists of approximately 6,540 (finished) SF and is situated on a large lot of approximately 12,200 SF. This magnificent estate home has three distinct living levels as well as a fully finished basement that is currently being used as a family/entertainment room complete with fireplace, exercise room, sauna, 3/4 bath, and wine cellar.

The bid deadline is set for May 10th and you can view the full list of downloadable property documents, property photos, and auction information at FRE.com.

With the suggested value of the property at $1,200,000 and the minimum bid starting at just $599,00, this property is sure to get sold so you better hurry!

Portfolio of Atlanta Investment Properties Up for Online Auction

One of the most active real estate professionals enrolled in the Never Lose a Listing program on Freedom Realty Exchange  has just brought a portfolio of bank-owned residential properties and development land out to online auction. The portfolio features three residential properties and two parcels of development land.

The residential properties range from having 3 bedrooms with 1 bathroom to a floor plan with 4 bedrooms and 2 bathrooms; all of which are located in Atlanta. Property sizes range from +/-1,000, +/-1,500, to +/-1,540 square feet while the development land in Atlanta and Lilburn are +/-2.2 acres and +/-1.1 acres.

As with all of the online auctions on FRE.com, each property has it’s own unique webpage full of all of the property’s details, photos, auction documents and any other available property documents such as disclosures, plat maps, etc. are posted for interested buyers to do their due diligence. More importantly, all of the bidding happens directly on the auction webpage itself. Minimum bids start as low as $9,000, but the clock is ticking. The bid deadline for these auctions is coming up on January 19th if you’re looking to pick up some assets at a deeply discounted price.

You can see all of these Georgia properties by going to FRE.com.

Never Lose a Listing Auction in Chambersburg, PA

One of the new Never Lose a Listing Auctions to make it’s way onto FRE.com’s online auction marketplace is a single family home in Chambersburg, PA and this property earned itself the featured spotlight this week.

This remodeled single-family home features hardwood floors, comfortably-sized rooms, a spacious kitchen with room for a table, central air and hot water heating. There is a large carport with a workshop off to the side as well as a full basement with exterior and interior entrances. Best of all, the property has incredible views overlooking the valley. See the full list of property features, photos and view all of the due diligence materials on the auction profile page at FRE.com!

The Bid Deadline is scheduled for November 17th and with a minimum bid of only$139,9000 so you better move quick if you’re looking to buy a beautiful home at an incredibly low price.

Washington D.C. Investment Property With over 20 Rooms

Located on the north end of Washington D.C. along Rhode Island Ave. NE, a sales representative with RE/MAX Specialists has brought a  property with over 20 rooms to online auction with the Never Lose a Listing® program on FRE.com.  The property’s suggested value is $800,000, however, this unique building is being offered at a fraction of its suggested value with a minimum bid of just $470,000.

The stunning brick exterior, high traffic location, and variety of potential uses make this online auction an incredible investment opportunity. Fourteen bedrooms and eight bathrooms presents the option to remodel and utilize this building as a bed & breakfast, school, adult nursing/daycare facility, or office space.

Visit the auction webpage at www.FRE.com/3137L1 in order to view all of the property photos, download auction documents, and view the full property description. Just remember, you have to move quick because the Bid Deadline has been scheduled for Thursday, May 26th at 5:00pm EDT!

Property Highlights:

  • Minimum Bid is just $470,000
  • Aggressive Bid Deadline of Thursday, May 26 at 5pm EDT
  • 7,700 SF on a 11,258 SF lot
  • Variety of potential uses

LAST CALL for the Online Auction in Peoria, Arizona

Yesterday, April 1st, was the Bid Deadline for the online auction of a luxury home in Peoria, Arizona. However, the property’s seller has invoked LFC’s patented LAST CALL® process in order to extended the Bid Deadline until Monday, April 5th. The auction’s current high bid is now published and every bid hereafter will be displayed in real time. If another bid IS taken before Monday’s deadline, the auction will be extended until Tuesday. These twenty-four hour extensions will continue until no more bids are placed.

I recently explained the LAST CALL® bidding process (which is currently running) in the online auction for commercial property in Orland, California and in that post, I wrote about the LAST CALL® bidding in another one of our commercial real estate auctions in Columbus, Ohio. In short, LAST CALL® was created to prevent people from losing an auction due to someone placing a bid in the final seconds before the deadline. Here is how I explained LAST CALL® in previous posts:

LAST CALL® protects bidders from auction sniping. If you are familiar with other online auctions sites such as eBay, you know that everyone interested in the auction waits until the very last second to place their bid. There is even software that will automatically enter a bid in the last millisecond of the auction, what we call “auction sniping.” LAST CALL® protects bidders by eliminating the possibility of “sniping.” Real estate is a rather large investment to make online and we strive to give all bidders a fair chance at winning. Understanding that real estate is a rather [heavily strategized move] to make online, we made the LAST CALL® extension increment 24 hours to give bidders plenty of time to deliberate.

I invite you to follow this auction closely as bidders compete for the property. You can join in the conversation and stay informed about this online auction by following us on Twitter. If you have any questions pertaining to LAST CALL® or this auction, feel free to leave a comment.

Happy Friday and good luck bidders!

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Open House Directory for Easter Sunday

It’s Easter Sunday on April 4th, and I just wanted to let everyone know that no open houses will be held for our luxury home auctions in San Clemente, Calif. or Peoria, Ari. this Sunday. However, both of the luxury homes we are auctioning in Dana Point, Calif. WILL BE OPEN on Easter Sunday.

If you want to know the remaining open house dates and directions for any of our luxury home auctions, all of the viewing schedules are posted on each auction’s property profile pages. Please see the following open house directory for more details:

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This Weekend’s Open House Directory

Open Houses will be held Saturday, March 20th from 1:00 PM – 4:00 PM & on Sunday, March 21 from 1:00 PM – 4:00 PM at the following locations. Please click on the images for more details about these online auctions.

  • The Strand at Headlands: 15 Whitewater, Dana Point, California 92629
  • The Strand at Headlands: 49 Beach View, Dana Point, California 92629

  • Sonoran Mountain Ranch: 28545 North 68th Avenue, Peoria, Arizona 85383

  • 431 Avenida Crespi, San Clemente, California 92672

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Online Auction for a Luxury Home on the San Clemente Golf Course

The LFC Group of Companies is auctioning a Tuscan-inspired luxury home perched on top of the San Clemente Golf Course overlooking the Pacific Ocean on our residential auction website, FRE.com. The minimum bid of $1.295 million for this extravagant home is a full million dollars less than the previous asking price, attracting some serious buyer interest. With three bedrooms, a versatile fourth room capable of serving as either a bedroom or office, and three and a half bathrooms, this home is expertly designed to deliver true Tuscany ambiance while showcasing the serene views of this unique and highly sought after “SoCal” location.

For those of you unfamiliar with southern Orange County, San Clemente is a quiet beach town well known for its laid back surf culture and 1,296-foot long pier. San Clemente boasts two world-famous surf spots, Trestles and T-Street, that double as popular beach hangouts year round. If land sports are more for you, here’s a little snippet about the San Clemente Municipal Golf Course that describes its sprawling 18 hole course against a ocean backdrop:

The San Clemente Golf Club is a scenic, family friendly Championship 18 hole golf course where Fridays are still weekdays, walkers are still welcome and juniors are always ¬? price. Owned and operated by the City of San Clemente, the course is located approximately one mile from the Pacific Ocean and features ocean views from a number of holes. Named “Best Value in Orange County” in 2008, the rolling hills and relaxed atmosphere of the “Muni” have remained popular with local golfers for over seventy five years.

Traveling to and from San Clemente is easy and convenient, easing the burden of a daily commute. The San Diego Freeway runs parallel to San Clemente, making freeway access a breeze, and there is also an Amtrak train station in town for those looking for a more scenic, relaxing route to travel up and down California’s coast.

The Bid Deadline for this property is April 15th, 2010. If you are looking to capitalize on a spectacular opportunity in this buyer’s market, I encourage you to come visit the online auction at FRE.com for all of the property details and documentation.

Photo Credit: typicalmacuser @Flickr.com

Photo Credit: typicalmacuser @Flickr.com