Carlyn Lowery, Associate Broker, Lowery Home Team at eXp Realty, Annapolis and Anne Arundel County MD Real Estate

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Annapolis Real Estate Auction for Acton’s Landing; How to Find a Great Deal on a Home (Or How Not To!)

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Did you hear about the auction on Sunday, September 20th, for new homes in Acton’s Landing in the Historic District of Annapolis? The developer decided it was time to get the last units sold, even if it meant dramatic price reductions. They hired REDC, a professional marketing firm out of Irvine, California, to get that inventory off the shelves. For weeks, street corners in the Historic District of Annapolis were graced with folks waving “AUCTION” signs in the air. A gorgeous marketing brochure was created, promoting Annapolis and Acton’s Landing, to draw those who didn’t yet know about the benefits of living in our lovely town.

Sunday was a beautiful day, and the turnout was good, including spectators and potential buyers, both with and without buyer’s agents. All thirteen units were sold. The most expensive home sold was the five-bedroom home at 46 Franklin Street, with a winning bid of $1,460,000 plus a five percent buyers premium. The buyer had previously won the bid on a townhouse, and changed his mind when he saw how the auction for the house was progressing. The auctioneer accepted his new offer and then re-auctioned the townhouse. Exciting things happen at auctions, where choices are made quickly!

The unit with the lowest starting bid was a two-bedroom condo starting at $249,000. One lady, who was hoping to get this as her new home, watched and waited through the whole auction, watching twelve other homes be sold, till it was time for this one to be auctioned. In the middle of the bidding, the auctioneers made sure she knew about the age restrictions – someone over age 62 needed to occupy the condo. Sadly disappointed to discover this at the last minute, she stopped her bidding. Someone else won the bid at $345,000 (plus the five percent buyers premium).

What you don’t know can hurt you. I have heard of cases where people who bought homes at auction didn’t know about the buyer’s premium, and paid more than they intended. Five percent on a purchase of $345,000 or $1,460,000 is not chump change!

I hope that lady who was bidding on the most affordable condo found a Realtor to help her through the process, so that she gets a great buy on a home she’ll love. Someone to show her properties that will work for her, to advise her on values, to help her through the process. A little expert guidance makes a big difference!

P.S. Call me today for all your Annapolis real estate needs.

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Here are some client reviews of Carlyn Lowery…

“Carlyn got us a quick sale above the asking price. She qualified prospects well, used a professional photographer for advertising photos, and provided expert advice during negotiations. Carlyn is what other Realtors aspire to be!”
– Paul Donnelly

“As first time home buyers, Carlyn Lowery was very attentive to our basic needs of walking us through each step of the home buying process from a novice standpoint. The long detailed list of items due at specific times from the start of the contract all the way through to the week of closing was greatly appreciated. It was great having an agent who took the time to clearly lay this all out for us. End result – a very smooth time at settlement. No surprises!”
– Ann Hannam

“We wanted a professional who would work with us to sell our home
quickly for a good price and protect our interests as sellers through the process.
Carlyn’s business acumen is her (and will be your) greatest asset.”
– Sue Bogard

“Carlyn was wonderful. She was organized, prepared, and knew the steps to take to sell our home quickly and used a wide array of marketing to get the job done. She gave great advice
during each of the phases, and in particular on the negotiation.”
– Michael Morgan

 

Questions? Call Carlyn Lowery today.

443-569-3977 – Direct
888-860-7369 x146 – Main Office
click to Email

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All information on this website is subject to change without notice. Subject matter is not guaranteed and is often considered time-sensitive. See disclaimer.

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