online real estate auction

ListedBy CEO Auctions Off Luxury California Condo For $100 To Drive Traffic, WOW!

SEE THE LISTING AND BID HERE WHILE IT IS STILL SO CHEAP: http://listedby.com/Listing/Details/2466233

 


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Real Estate Investors From All Countries and regions Flock To This Location…

As one of the most moribund housing markets in Europe, Spain has become a magnet for global bargain hunters. Real estate prices are down as much as 50 percent from their peak during a housing bubble, and investors from Asia to the United States and Britain are flocking to Spain to try to catch the uptick.

British Airways flights to Madrid are packed with London-based real estate executives. The hedge fund Baupost is buying shopping centers, Goldman Sachs and Blackstone are buying apartments in Madrid, and Paulson & Company and George Soros’s fund are anchor investors in a publicly listed Spanish real estate investment vehicle. Kohlberg Kravis Roberts just bought a stake in a Spanish amusement park complex. Big-name private equity firms and banks are teaming up with and competing against one another on huge loan portfolios with names like Project Hercules and Project Octopus.

“It’s surreal,” said Dilip Khullar, a 25-year veteran of Spanish real estate investing and director of Cadena, an investment fund. “One day it’s the worst place in the world to buy real estate and the next, it’s the best.”

The end of Spain’s real estate boom left unfinished projects like chalets at Cala Romantica on the island of Majorca.Enrique Calvo/ReutersThe end of Spain’s real estate boom left unfinished projects like chalets at Cala Romantica on the island of Majorca.

Low interest rates, set by the European Central Bank to help buoy Germany’s market, helped to fuel Spain’s housing boom. Real estate developers teamed up with local savings banks to borrow and build over and over again. “We were a train going 200 kilometers an hour and it was hard to stop,” said Jaime Pascual-Sanchiz de la Serna, executive director at Aguirre Newman, a leading real estate consulting firm. Construction reached a staggering 12 percent of gross domestic product, more than double the proportion in Britain or France.

When the bubble burst in 2008, Spain became toxic. “Nobody wanted to invest a penny in real estate,” said Mr. Pascual-Sanchiz de la Serna. “Spain was overbuilt and it was going to take 10 years to work through.”

It hasn’t taken that long.

The real estate market started to revive in 2013. Government reforms, including a relaxation of labor laws and stricter rules for banks related to accounting for bad real estate, meant that banks could no longer ignore the assets on their balance sheets. Once the banks had to hold more capital — in some cases drastically more — they started to think it was better to sell, analysts and bankers said.

Spain’s “bad bank,” called Sareb, formed in 2012 with the real estate assets of the country’s bailed-out banks, started to close deals. Separately, last July, Blackstone bought 1,860 apartments for 125.5 million euros, then about $166 million, and in August, Goldman bought a block of public housing in central Madrid. This combination of deals set a floor price, analysts said.

The recovery is still nascent. About €5 billion worth of real estate transactions took place last year, according to the consulting firm CBRE Spain — more than double the amount of the previous year but still small compared with the €166 billion in commercial real estate deals made in Europe last year. At the peak, Spain issued 120,000 mortgages a quarter; in the fourth quarter of 2013, the figure was 15,000. Fitch Ratings recently issued a report saying that real estate prices would continue to fall through 2014, not rebounding until 2015.

A housing block in Cancelada, in southern Spain. Many such assets from bailed-out banks went to a so-called bad bank, Sareb, which is gradually selling them off.Jon Nazca/ReutersA housing block in Cancelada, in southern Spain. Many such assets from bailed-out banks went to a so-called bad bank, Sareb, which is gradually selling them off.

And Spain’s economy continues to struggle. The unemployment rate is 26 percent, and growth is estimated to be about 1 percent this year. The government contends things are better, said Pedro Gonzalez, a former shopkeeper who now drives a taxi, but the people haven’t seen it. “There are no jobs,” he added.

But that looks like an opportunity to investors who believe the market will truly take off and want to get in before it does.

“It’s crazy the number of investors coming in,” said Fernando Acuña, co-founder of Aura, a start-up real estate advisory firm in Spain, as he toggled between multiple screens dissecting data in the residential real estate market and showing the uptick in Google searches for “comprar piso” — “buy an apartment” — in his bustling office on Madrid’s fashionable Almirante Street.

Small firms like Mr. Acuña’s, midsize investment banks in Spain and global banks in London are buzzing with investors looking for different ways to play the real estate market, by buying apartments or office buildings, scooping up loans from Sareb or the banks themselves, creating pools of capital to buy real estate assets or buying servicing platforms, which give the private equity firms that own them the ability to manage their assets as well as critical market intelligence.

Belén Romana, chairwoman of Sareb, said the number of investors — around 50 — who turned up for the first auctions surprised her. They were aggressive, she said. “It was early and they thought they could make a killing.” They pushed her to move fast and do deals. “They wanted to sit in a dark room and do a bilateral deal,” she said. She refused. Auction processes were put in place, with data rooms for deal teams and deadlines for nonbinding and binding deals.

In 2013, Sareb sold €1.5 billion of the €51 billion in assets it was created to sell. Of the €51 billion, about 20 percent is real estate and 80 percent are loans. Ms. Romana said the agency bought the assets at discounts of 40 percent to 80 percent.

Unfinished homes in Cancelada, Spain. The nation’s economy continues to struggle, with the unemployment rate at 26 percent.Jon Nazca/ReutersUnfinished homes in Cancelada, Spain. The nation’s economy continues to struggle, with the unemployment rate at 26 percent.

There is a lot to sell. Sareb aims to sell nearly 10,500 assets this year, and the top six Spanish banks hold an additional €159 billion worth of real estate and development loans, according to a Goldman Sachs research report.

Catalunya Bank has just received bids for Project Hercules, a €6.95 billion portfolio of residential home loans, 43 percent of which are nonperforming, or overdue by at least 90 days. The bidders are a who’s who of private equity: Blackstone and TPG are competing against teams of Goldman Sachs and Cerberus; Apollo and Centerbridge; and Deutsche Bank, Pimco and Marathon, according to a person briefed on the sale.

Commerzbank recently sold €4.4 billion of loans backed by commercial real estate in a separate deal called Project Octopus, in which Lone Star and JPMorgan Chase beat out Blackstone and Deutsche Bank. The price was not disclosed but market participants said the sale was made at close to a 30 percent discount.

In February, a Socimi, or Spanish real estate investment trust, came to market, raising $547 million. Two weeks later, Hispania Activos, another pool of capital, raised $763 million, with Paulson & Company, George Soros’s Quantum fund and Moore Capital as anchor investors.

Before Grupo Azora, the Spanish real estate company behind Hispania, decided in the early fall on an initial public offering, some of the bankers its executives spoke with wondered whether there would be ample demand. But by the time the deal was marketed, investors were jockeying to get a piece of the action.

“We generated demand of $2.3 billion,” said Juan del Rivero, chairman of Grupo Azora and a former Goldman Sachs partner. “In my 30 years of experience in investment banking, I haven’t seen a lot of books like that,” he said, referring to the process in which investment bankers take orders for a deal before pricing it.

More Socimis are in the pipeline, with at least one set to raise more than €1 billion.

Already the deal landscape is changing. While many investors want trophy commercial real estate assets, extremely few are for sale in prime areas of Madrid and Barcelona. Investors who hoped for 20 percent internal rates of return are now expecting 12 percent to 15 percent, and shifting their focus to residential properties, analysts said.

That shift suits Mr. Acuña of Aura very well. He has ridden the boom and bust of the real estate cycle and is gearing up for the next boom.

In 2006, Deutsche Bank hired him to build its mortgage business. When the market collapsed, he added the title of head of collections. In 2009, he started a business trying to sell repossessed houses for the banks and formed a database with 450,000 properties from banks and more than a million from private clients. When investors started calling and asked him for valuations of land, houses, buildings and portfolios, he started Aura to advise them and also to invest in the sector. Its website is in English because, he said, “all my clients are in Mayfair.”

“I think 2014 is the year we will see a lot of transactions,” he added.

Many worry that the competition for some assets and excess liquidity is driving prices higher.

“People are starting to overpay on certain assets,” said one investment banker who spoke on the condition of anonymity because he works with many of the funds active in the market. “There’s pressure from investment committees in London to do deals.”

One private equity executive said a recent auction for a mediocre office building attracted 30 bids. His company’s bid — which he said was fully priced — did not even make it past the first round.

Are prices too high? “That’s the million-dollar question,” said Javier Martinez-Piqueras, co-head of equity capital markets at UBS. “Actually, it’s the billion-dollar question.”

 

REFERENCE THE NEW YORK TIMES PUBLICATION


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Exceptional Video With William Shatner EquityBuild And Real Estate Investing Strategies

These Guys Are Just AMAZING and you can actually also read their eBook HERE if you have not already for FREE!  – -

DOWNLOAD REAL ESTATE INVESTING EBOOK FROM EquityBuild!

 

The Best Of Investing Radio Show From January 11th CEO of ListedBy.com Stephan Piscano

Best of Investing Radio Show January 11, 2014 guest Stephan Piscano

Stephan Piscano reviews the benefits of the site and a lot of exciting updates on the real estate industry

 

 

The Busy, The Broke and The Early Bird That Gets The Worm

Trailblazers Always Look To Improve How Business Is Done

Those of us who are in the technology sector go through a constant cycle where we see a few grab on to a new opportunity and run with it, a larger bunch pass on the same opportunity because they are either too busy or, in a slow market, don’t want to spend the money, and yet another bunch, simply not bother because they know better or don’t want to get into yet another technology ‘thing’.

Ultimately, the group that is always open to learning about new things and always hungry to explore better ways to do business is the set that is often referred to as pioneers. Let’s call them Group 1. These are the trailblazers who everyone looks up to, later follows and constantly tries to emulate.

They are the early birds that get the worm, while Groups 2 and 3 snooze and lag behind.

The pattern is consistent and goes back to eternity, in advanced technology years. We need not go back too far. When cell phones came out, there was quite the resistance, for many reasons. The pioneers got on with it however, reaped the productivity benefits and set themselves apart. The rest then followed. That was one technology that the ultimate laggards, Group 3, simply had to cave in to at some point, or vanish.

The personal business website is another that many in the real estate market also resisted and still do until now. There are many REALTORS who to this day still work off of a web page given to them by their Association. And we’re already in 2013, going to 2014. Again, the pioneers were those who launched their own websites early on, and took advantage of the lead they had on their competitors. They learned early on about what worked and what didn’t, learned and applied more advanced search engine positioning tactics and in turn once again grabbed the worm at the expense of groups 2 and 3.

Social media came next and we all know that most agents are still trying to figure that one out. The early troopers already have it integrated into their systems and continue to look for new ways to leverage the trend.

Today whenever we discuss ‘out there’ technologies like online auctions and tele-presence video conferencing and video email, we still hear the same arguments from groups 2 and 3. They are either far too busy to look into something new because the market is too hot and they are turning away business (I literally got that one yesterday from one Realtor), or if we caught them not too long ago when the market was still very tough, their excuse was that business was too slow and they were not about to invest any money until the market turned.

If that is not a catch 22, I’m not sure what is.

So, too busy when the market is hot, and when the market is slow, too broke to invest in new technologies. And one wonders why Group 1 almost always leads.

Two trends that pioneer real estate agents (if you are reading this article, you obviously already are, or you are working to be in that category) are starting to embrace today are online real estate auctions for all types of properties including REOs and traditional listings, and video communication and marketing technologies. Have you watched the Million Dollar Listing NY TV show lately?

Next time you list a client property, early bird strategy suggests you auction it so you can maximize the sale price for the seller, increase your income and manage offers virtually without having to lift a finger. Among other great options, I’d give ListedBy.com a shot. It’s entirely, 100 percent free.

And when it comes to marketing the auction, or a traditional sale, do look into video marketing to support your push, even though your strategies still work. Video is the way to go going forward according to statistics from numerous leading organizations and research firms, and learning and applying video to your marketing sets you on the next pioneer path that others will undoubtedly follow. Here is one fully integrated video marketing and communication system that every Realtor owes it to themselves to take a very close look at. These tools are so powerful, simple and inexpensive. I use the platform and it is unlike anything else we’ve seen out there, by miles.

Agent Responsiveness Remains Lax – Edge For Six Percent

Only One Out Of One Hundred Agents Answers The Phone

While the figure indicated above may not be statistically valid, it should nonetheless worry brokers and raise some flags. Mainly because it is based on a real, recent experience a close business partner of mine had when attempting to purchase investment properties.

Another reason for concern is that responsiveness has been an ongoing issue in the industry. Considering it is well known that one of every four consumers will do business with the first real estate agent they connect with, one would think agents across the board would have by now figured ways to bank on the statistic.

The story I’m about to share is actually scary.

This cash-ready investor was out to make several property acquisitions about four weeks ago, in different parts of the United States. During one morning, he called one hundred real estate agents (yes, ONE HUNDRED) to inquire about one or more of their active listings. The intent was in fact to place offers on the properties, not just ask questions.

The shock came when most of the calls went unanswered. You’d think that 75 percent of calls in any sales oriented business would be picked up. If that was your guess, you were wrong. In fact not 50, 40, 30 and not even 10 percent of the calls were answered. Only ONE out of the one hundred agents contacted that morning actually picked up the phone!

Now if that shouldn’t sound the alarm, not sure what will.

It gets worse though.

This buyer left messages to all 99 remaining agents clearly stating his wish to place an offer on a property. I repeat. He told the agents to call him back because he wanted to BUY their listing. Most were traditional for sale listings, others were REO auctions or regular residential real estate auctions.

Not to belabor the point, only five agents returned the call at some point that day.

This puts six percent of agents at a clear advantage over the remaining 94 percent, with only one percent set to truly clean up.

The difficulty in answering the phone in real estate remains a mystery and obviously an insurmountable challenge. But if the industry is to edge forward, someone has to figure this out.

Maybe it’s time brokers took a closer look at the issue – and perhaps a more active role addressing it.

One thing is certain though. Sites like ListedBy that allow buyers to instantly place offers online are a breath of fresh air and great time savers. But even these would only be of real value if agents are more click than phone friendly.

 

 

 

The Making Of A Millionaire – How To Benefit From Public Real Estate Auctions

You Eat An Elephant One Bit At A Time

You eat an elephant one bite at a time.

Often, having a clear vision and the courage to start working towards an opportunity is what stands between man and his or her ultimate goal. With a little bit of study and appetite for some risk, the goal may in fact be closer than one might think.

The first order of business is to spot the opportunity. The next order of business is to remove anyone from sight who’s job seems to discourage us from moving forward. This is frequently the reason why most people freeze. In his famous The Law of Success in 16 Lessons book, the success bible, Napoleon Hill specifically discusses how you must keep your chief aim shielded from others who are likely to challenge or resist it. Even your spouse. Take this as law in achieving the success that you want, even though it is contrary to all the modern guru teachings that you must publish your goals far and wide so you may be more committed to achieving them.

In real estate, an opportunity of a lifetime came to those who saw a buying window when everyone ran the other way in 2008, 2009 and even up until last year. Those who made the move and acquired as much property as they could, boarded or not, with spouse approval or not, are on a different plane now. We all know where these investments stand today. Up some 20-25 percent in the past year alone, in many states and cities across the US. They hopped on the Web and onto online auction sites to grab REO auctions, government real estate auctions, residential real estate auctions, commercial real estate auctions, you name it. Some flipped them right away while others rehabbed and held the assets for rental income with high annual cash on cash returns unlike we’ve seen for decades.

The biggest complaint circling the sector today is lack of inventory, especially distressed assets. Whether that’s in Detroit, Las Vegas or any other market.

The next time I come across a hot deal in Detroit or otherwise, boarded or not, shabby or not, I’m jumping on it. That’s just what I did earlier today, when opportunity presented itself. I bid on five residential properties in Detroit on ListedBy.com, going for just tens or mere hundreds of dollars to anyone willing to take on just a few thousand dollars of back dues taxes. A great deal if you ask me. At worst, the land will always be there for me or my kids to farm someday. Each will have their profiting strategy. Some will resell the assets immediately for a bit of profit, taxes still unpaid. Others will hold till values increase, then sell at that time, still passing due taxes to the next investor. Yet others might pay due taxes in order to obtain title insurance, rehab the properties and rent them for regular cash flow. That is, if the neighborhood and overall conditions are adequate, an insurance provider is willing to provide the service in the area, and the risk of another round of vandalism of the property has been well considered. Risks are out there and professional advice and due diligence on any investment is always necessary.

But first I must win those bids. Some astute investors seem to have spotted the same properties. Until then, I’ll keep scouting the site for more. Here great deals still do come by.

I also like it here not just because of my obvious bias towards ListedBy, but because I also don’t need to pay registration and technology fees like on most other auction sites. Nor do I have to contend with buyer premiums like most everywhere else. Here it’s all free. So each bite I take at my goal, goes further. In English? More dollars in my pocket to go towards buying more assets (with or without spousal approval), instead of handing them to the auctioneer.

There you have it. That’s one of my paths. I’m pulling ahead in the game of real estate just one small bite at a time, until the elephant is in the bag.

 

 

 

 

Transparency In Real Estate – Key Message at SJREI Mid-Peninsula Meeting

The Three Pillars Of Change

The main message we delivered through our presentation (SJREI021313) at the SJREI (San Jose Real Estate Investors) two days ago was that transparency, or its lack thereof, is a critical catalyst that is preventing the industry from being what it can be, and the real estate professional, agent or investor, from being as efficient and productive as they should be. The underlying force being that a new paradigm shift in real estate is in underway, fueled by consumer insight, powered by technology and new business models.

We stressed and showed how these models will threaten the existence of organizations, large and small, that refuse to notice the oncoming change and tune in to new consumer expectations in how the real estate business is handled, especially online.

This would include real estate auction companies and real estate auction sites, sites that enable REO auctions and real estate government auctions, and organizations dealing in any shape or form with public real estate auctions or foreclosures and distressed property data and listings.

Notwithstanding, regular consumer portals were discussed in the same context, be it publicly traded companies or startup. That the threat is real.

The good news was that the undercurrent also brings with it potentially huge opportunities for those same organizations who tune in to the change and adapt, as many have magnificently done over the years.

Within the context of a session meant to explain to experienced real estate investors what ListedBy.com is, we took the path of focusing on industry concerns that when addressed by platforms and open environments such as ListedBy.com, should result in far greater efficiencies (operational and cost) and productivity for the investor and anyone engaged in the buying and selling of real assets. This, on the premise that all technology we elect to deploy in business is meant to enhance one or the other, in some shape or form.

The paradigm shift would consist of three key pillars with transparency at its core. From these new levels of transparency, the benefits far greater efficiencies and productivity will be drawn. Lack of transparency, today a detriment to economic growth and sales productivity will be replaced with an environment where full transparency is an expectation. Vis:

- Open access to listing data, REO, distressed and regular assets included. Hiding data behind cumbersome registration pages and fees will no longer be an option.
- Actual listing reps featured. The challenge of not being able to instantly see who the true seller or representative is, and not being able to access their contact information, will do more damage to the site or portal exercising such a strategy, than it would do them good.
- Bidding and bidder transparency. Shil bidding (bidding that is used to artificially inflate the price of a certain item), and transparency in being able to see who is bidding and who wins a bid, will become the norm.
Improved cost efficiencies would be delivered in a number of forms including:
- Free auctions
- Free access to listings
- No buyer premiums
- No registration fees
- No brokerage fees

We have a long way before everyone buying and selling real estate realize how deep the benefits of transparency would run within an organization, and how much of a boost in operational and sales productivity such transparency and access to information can drive.

If participant feedback at the session was any indication, the thinking behind ListedBy.com is definitely something more and more real estate professionals will be gravitating to.

ListedBy How-To Videos Now Online

ListedBy How To Video Series

A nice and short set of videos is now available to take you through all key areas and tasks on ListedBy. If you have any questions that the videos do not address, please drop us a note here.

Watch The Videos

Public Real Estate Auctions Site ListedBy Launches Service Providers Directory

ListedBy’s Service Providers Module Enables National Search For Real Estate Related Services

An exciting development for all ListedBy users and site visitors today, as well as for service providers who offer services to the real estate industry in the U.S.

We just launched the Service Providers section of the site, which allows ListedBy users to research and find services related to real estate from across the country. If anything, the Service Providers module roll out is another example of our commitment to making ListedBy.com the place for everything real estate.

Whether it’s painters, movers, insurance providers or any other service, and whether you know the area or if you are from out of town or out of state, this is a key peg in helping you to find and get information about the services that you need, at a local level, as you make either an investment decision or need a service for your own property.

As a service provider, the exposure is entirely free. Just drop by the Service Providers page and add your company to gain exposure. We’ve also added enhanced placement options, which gets your company to the top of the search results in the states of your choice.

Here is the full announcement released earlier today on the wire:

Public Real Estate Auctions Site ListedBy Launches Service Providers Directory

Self-Managed Search Database Gives ListedBy Users Access to Information on Local Real Estate Related Services, and for Service Providers, Free Exposure and Leads

NAPA, Calif. – January 28, 2012 – ListedBy (www.ListedBy.com), the first free online real estate marketplace and social network with live bidding public real estate auctions and ‘Best Offer’ functionality today announced the launch of its Service Providers module, a self-managed, self-populated directory designed to give ListedBy users convenient access to information on local real estate related services across the United States.

“As a platform that truly stands out among other real estate sites and real estate auction companies, part of our mission at ListedBy is to constantly elevate user experience and value,” said Stephan Piscano, CEO and Founder, ListedBy. “Whether it’s homeowners, buyers and sellers, or investors involved in REO auctions, government auctions and regular assets, identifying and connecting with local service providers is an on-going requirement. ListedBy is now positioned to deliver on this need like no other site online.”

Free to join, the ListedBy Service Providers tool is organically populated and currently covers all U.S. states and territories. International search is planned for release later this year.

Service providers can join the new directory at https://www.listedby.com/ServiceProviders/ServiceProviderMaster. Additional categories can be requested through the company’s online Forum.

Enhanced placement in the directory is available as an option in one of two packages offered at $50.00 per month per state, or for $248.00 dollars per state for a full year subscription.

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