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| Michael Bull |
ATLANTA, GA (March 25, 2013) – Owners of commercial
properties or notes who are looking to sell their assets at auction now have a
variety of formats to choose from – and they’re finding more potential buyers
bidding for those assets.
Those were some of
the insights provided by a panel of experts on the most recent episode of the
“Commercial Real Estate Show” radio program, hosted by Michael Bull of
Bull Realty.
The episode provided an enlightening look at commercial real
estate auctions. Topics included the different types of auctions, tips for
buyers and sellers, and current activity levels at auctions.
 |
| Jeb Howell |
As a result of the
slowly improving economy, there are more parties interested in buying and
selling commercial real estate, and that has led to more properties being put
up for auction and more potential buyers interested in snapping the assets up,
said Jeb Howell, president of Auction Management Corp., which conducts
live auctions.
“We’ve seen a major
sea change in the last year,” Howell said. “There’s a lot of people buying at
auctions now. When we now hold an auction, we’re getting easily 30 to 45
percent more [bidders] than we got a year ago. What it’s telling me is we’ve
passed the bottom, and now is the time to buy.”
 |
| Louis Fisher |
A perception exists that only deeply troubled properties or
loans are put up for auction, but that is not true, said Joe Cuomo,
senior vice president of Auction.com. About 75 percent of the transactions that
closed on the site last year were transactions in which the underlying asset
had an occupancy rate of at least 50 percent, he said.
Louis Fisher, national director of Sperry Van Ness
Auction Services, outlined his firm’s upcoming online auction called Auction
Point 2013 (which will take place at AuctionPoint.com). The auction will
feature all property types and is accepting bids until May 31.
The entire episode
on commercial real estate auctions is available for download at www.CREshow.com. The next “Commercial Real
Estate Show” will be available March 28 and will provide a detailed examination
of the issues surrounding commercial real estate contracts.
For a complete copy
of the company’s news release, please contact:
Stephen Ursery
The Wilbert Group
E-mail: sursery@thewilbertgroup.com
Office: (404) 965-5026
Cell: (404) 405-2354
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