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NEWS & PRESS

01.27.2009
FALMOUTH ENTERPRISE - Absolute Auction for Cape Cod Home Draws 28 Bidders

The Falmouth Enterprise Online
 
 
JJManning Auctioneers, a leader in the accelerated marketing and disposition of quality real estate, is pleased to announce the sale at Absolute Auction of 136 Racing Beach Ave., Falmouth, MA on Saturday, January 17, 2009 for $748,000.
 
After two years of marketing their property through traditional brokerage and FSBO listings without a sale, the owners of this updated 1984 3-bedroom, 2.5-bath raised ranch set on the upland portion of a 1.5+/- acre site within the Racing Beach Association with elevated views across protected marsh to Buzzards Bay turned to JJManning Auctioneers.
 
To generate the highest level of interest and participation among potential buyers, the owners opted to sell the home at Absolute Auction, where the high bidder is the winning bidder, regardless of price. The strategy proved effective, drawing more than 50 groups to view the home during the 32-day marketing period between contract and auction, including over 30 groups who attended the 2-hour open house on January 11 despite a winter storm which dropped 3-5" of snow over much of the state.  
 
On auction day, it was standing room only as 28 bidders--each with a certified deposit of $25,000, participated in the auction. Auctioneer and company President, Justin Manning, quickly ran through opening bids provided by 6 bidders who were pre-registered by real estate brokers participating in the 2% Buyer's Broker Incentive Program and then turned to the floor for an advance on $550,000. Spirited bidding narrowed the field to two combatants with a bidder from Pennsylvania finally taking the day and qualifying his Buyer's Broker for a $13,600 commission.

JJManning Auctioneers is now accepting consignments for the Winter/Spring Auction Calendar. Please visit www.JJManning.com or call 800-521-0111 for further information.