Sequim visitors can get a little lost with our shopping options in Sequim, so my original plan was to write a few shopping tips for Sequim visitors on vacation. Well, that was my intention till I found this morning this advertising on craigslist Olympic Peninsula Homes for Sale '$100,000 Sun Meadows Real Estate Auction (Sequim)'
I actually did not believe my eyes when the Sun Meadows house which our friends had tried to sell for Sale by Owner at $279,000 for over a year - they got two offers for $250,000, which they did not accept - is now up for auction at $100,000. I know the home owners had to move on into an assisted living home and just let go of the house.
I could not resist and called the phone number with the craigslist Sequim Home auction ad. I reached Carl Reed at Connect Realty who gave us auction info by email. The address of the property is America Blvd. in Sun Meadows of Sequim. Interested buyers can inspect the home from 10:00am to 5:00pm both this Saturday and Sunday. The auction will be will be a 'round-robin auction' by phone.
To be honest we both never heard of such an auction. Anyways, everyone interested in the auction will need to leave an initial bid at the home, or by phone for those out of state, during the inspection period. The real estate company will be calling everyone who left an initial bid at 8:00pm on Sunday and giving them an opportunity to advance the high bid. This process will continue in round-robin fashion until only one bidder is left. That bidder will be given the opportunity to purchase the home at the high bid price.
To be honest we both never heard of such an auction. Anyways, everyone interested in the auction will need to leave an initial bid at the home, or by phone for those out of state, during the inspection period. The real estate company will be calling everyone who left an initial bid at 8:00pm on Sunday and giving them an opportunity to advance the high bid. This process will continue in round-robin fashion until only one bidder is left. That bidder will be given the opportunity to purchase the home at the high bid price.
I don't know whether this will turn out as the super deal for a cheap house in Sequim but we are very curious what the final price for this Sequim home will be. If you want to see the house online and lots of photos, we still have it on our website (second listing) Sequim Home for Sale by Owner, Sun Meadows, Near John Wayne Marina. Good luck, if you are entering this Sequim home for sale auction.
Last but not least, if you are looking for a unique upscale luxury Sequim house, don't miss our post Sequim Home. Again, we are not realtors but just regular people who love Sequim and like to help friends who are selling their Sequim home. For all those who look for real estate in Sequim, it's a buyer's market!
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2 comments:
I just called the # on the craigslist site and the man informed me that the winning bid on the auction fell through so it is now for sale with a listing price of around $240,000, if I'm remebering right. So.. it is still for sale. I cannot believe how long some of the homes in Sun Meadows have been on the market, it is such a nice community.
We planned to do an update on Sequim, including the Sequim Home for sale auction.
Yes, the house sale fell through. We talked to the realtor as well. He even told us a different number what the sellers were asking $265,000 now. Why would somebody want to start an auction at $100,000 when this is their target price?!
My humble opinion is: if sellers are not willing to adjust their asking price to the sluggish market, then they will keep sitting on their houses for a year or longer.
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