History Always Repeats Itself

Washington, DC, Apr 24, 2008

Land acquisition deals mimicked the madness of the Gold Rush as builders and developers sought to keep up with the demand for new homes gobbling up and competing for land throughout the early 2000's. Unfortunately, with a real estate market that appeared to soften overnight, many builders are now left holding new homes and buildable lots with little hope of saturation over the next several years.

Mitchell & Best Builders, a Maryland based, award winning 2nd generation builder, was ecstatic to have acquired a 849 acre farm in western Loudoun County, VA at a time when new homes were selling much faster than they could be built. Unfortunately, the rezoning and subdivision process outlasted the market and they are now left with over 100 single family lots with buyers few and far between. Mitchell & Best has scheduled an auction event to generate interest and produce sales quickly. Just days into the auction campaign buyers are submitting contracts with the hope of buying their lot long before the auction event. A testimony to the power of aggressive marketing campaigns in a sluggish market and a sign that there really are ready, willing and able buyers out there.

"Many people are under the impression that auctions are a "give away" strategy. What they don't realize is that the market determines the price regardless of the sales method used to get there", said Gloria LYNN Gardner, Corporate Auctioneer for HomeLand Auctions, the firm hired to conduct the sale for Mitchell & Best. "We speed up the sale process and create a competitive environment so that sellers have the opportunity to see the market speak for itself. At the end of the day the decision is up to the seller as to whether they accept what the market has to say or not. We don't determine the market, we just bring it to them and make it speak", said Gardner.

"Auction is all about the marketing. We do for real estate what a 4th of July sale does for a retailer. We set the date and time, we set the terms, we tease the consumer away from the competition, we advertise it like crazy and we sell to the masses. The auction puts a different spin on the transaction allowing the buyers to feel much more in control of the process. It's a win/win for all and precisely what the doctor ordered for this market", said Gardner.

Gardner is considered to be one of the leading auction experts in the broker/builder world Prior to launching HomeLand Auctions to accommodate national auction needs, Gardner co-founded the Auction Department for Long & Foster Real Estate, a mega broker with over 200 offices and 20,000 agents. Long & Foster was recognized as leader in the real estate auction world just a few short years after rolling out this innovative service throughout their region in 1994. Though there was little interest in auction throughout the real estate boom, Gardner is working with Long & Foster again to assist in the re-introduction of auction to their agents, clients and customers and Gardner has a long list of brokers ready to follow suit.

The Auction Department for Long & Foster was strategically positioned within their New Homes Sales Division in order for them to offer builders accelerated marketing campaigns to assist in moving inventory throughout the last slow real estate market. Together the team has conducted very successful auction events for Ryland Homes, Equity Homes, Morrison Homes, Washington Homes, M/I Homes and many more. Builders are just now re-considering the auction method as a viable tool in the aftermath of a heated market. "History always repeats itself&it was just a matter of time", added Gardner.

SOURCE:
HomeLand Auctions
4/24/2008 20:35 AA ET
www.HomeLandAuctions.us

CONTACT:
HomeLand Auctions Gloria LYNN Gardner/Corporate Auctioneer 877 668 6131 auctioneer@homelandauctions.us