Crowds expected for auction
IT'S almost show time for real estate buyers and sellers.
Rainbow Bay Realty hosts its Showtime auction event for the second year, due to the inaugural event's success, on March 31.
RBR principal Lenny McLennan said during the 2011 event 65% of 30 properties auctioned were sold before, on the day or within 90 days afterward.
"There's a little bit of a difference this year," Mr McLennan said.
"Because of the interest rate cut in December we're experiencing more buyer interest."
Last year's event filled the entire RSL Anzac Room to the point in which extra seating was required, so it will in 2012 be held in the Visions Room's greater expanse.
"If you're a buyer in the marketplace, you're going to want to come to this," Mr McLennan said.
"Last year we had buyers negotiate for more than one property because if they couldn't get one they could get the other.
"There'll be a real mix of properties: units, acreages and houses at all price ranges.
"Some people who are really keen to sell might see a good opportunity here to sell their property in a short amount of time."
He gave an insider warning that, generally, the longer properties were on the market the lower their eventual selling price.
"The average time on the market for homes in the Tweed-Coolangatta is 161 days, which is not really great to be honest.
"Successful auctions during Showtime will mean a shorter time on the market, which is an advantage for any seller."
The advantage of this event for sellers will be the improved buyer interest, and the fact they will be competing to secure their desired home within a contained environment.
The advantage for buyers: a veritable smorgasbord of homes on offer at the right price for the savvy real estate player.
Showtime will be held at Twin Towns Services Club on the Saturday from 1pm (Qld).
Phone 07 5589 8688 for more information.