Located about 40 miles north of Bakersfield along Interstate 5 and Paso Robles Highway 46 is the Lost Hills RV Park, a welcomed pit stop for road warriors and the newest auction on the Freedom Realty Exchange (FRE.com). Lost Hills is small but thriving town in central California with many of its residents working in the local agricultural or oil businesses.

As an alternative choice to a traditional real estate sale, online auctions can be especially effective for sellers wanting to dispose of their property but are not willing to chase the market. An auction creates a trading platform that brings the buyer and seller together in such a way that depth of market emerges and fair market value is realized.

“With properties similar to this RV Park, an online auction appeals to buyers, both local and out of state, because of its convenience and the fair and open bidding conditions”, said LFC’s Director of Operations Ryan Devin. “It also gives the seller a way to gauge market demand and make an informed decision based upon the bids received.”

Located about 40 miles north of Bakersfield along Interstate 5 and Paso Robles Highway 46 is the Lost Hills RV Park, a welcomed pit stop for road warriors and the newest auction on the Lost Hills RV Park sits on over 9 acres with 80 pads and the following amenities:

• Swimming pool
• Convenience and supply store
•  Playground
• Dog walk area
• Horse motel
• Deluxe showers
• Laundry facilities

As with all of the auctions on the Freedom Realty Exchange website, property research, due diligence and even bidding are conducted completely online, removing the need to spend hours in a crowded ballroom with all the unwanted pressure and intimidation that comes with a traditional outcry auction. Interested buyers can view property and auction documents by visiting FRE.com/112L1. Bids must be submitted by December 1st.

A new commercial real estate property has entered the FRE.com global online auction marketplace and it’s located at a major intersection in Foothill Ranch, CA. This fully built out medical office condominium consists of two suites for approximately 3,762 square feet of rentable building area. Both suites are in “like new” condition and the tenant improvements were built using high end materials for an estimated cost of approximately $285,000 or +/- $76 per square foot.

Each exam room is fully equipped with a sink and storage cabinets designed for medical office use. The suits are complete with several consultation rooms, a records room and break room.

The Suggested Value for this property is posted at $1,110,000 but the seller is highly motivated and set an aggressive Minimum Bid of $595,000. The seller also set an aggressive Bid Deadline for October 13th at 5:00 PM so refer to the offering memorandum for details, floor plans, demographics and other information on the auction profile page at www.FRE.com/3167L1.

Summer time is in full swing and it’s ‘California Dreaming’ for real estate investors looking to purchase REO property in Northern California. North Valley Bank has brought a portfolio containing a suggested value of nearly $13 million in multi-family lots, SFR lots, vacant land parcels, community development land, and office retail condos to online auction at www.FRE.com. Minimum bids can start as low as $125,000 and with properties located in Lake County, Nevada County, Siskiyou County, Sonoma County,  and Tehama County, you’ll be sure to find assets that fit your investment strategy.

Though the portfolio’s properties are located in various parts of northern California, the online auction represents multiple investment opportunities for builders, developers and real estate investors to conveniently purchase bank-owned property through a transparent, fair and open bidding platform. Each auction profile page contains all  of the essential due diligence materials so bidders can view all of property details, photos, auction documents, escrow information, and property specific documents from anywhere in the world.

Check out all of the auction properties at www.FRE.com before the bid deadline of August 11th at 5:00pm PDT.

Related Posts

• Prime Bank-Owned Development Land Available in Online Auction
• 2 Weeks Left in Bank-Owned Auction Portfolio
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Strategically built between the cities of Sacramento and San Francisco, this move-in ready, +/-2,244SF specialty car wash facility and freestanding retail center is situated only a short distance from the I-80 in Suisun City, CA. The property features three individual car wash bays and  space for equipment. On the other hand, the second building is approximately 1,940SF and has the potential of being subdivided for multiple tenants and a variety of retail uses.  With an aggressive Bid Deadline and date certain for sale on June 16th, this auction is generating a lot of investor interest for its pricing as well.

The auction’s minimum bid starts at $249,000,  a fraction of the property’s $640,000 suggested value, but the major head-turning feature is the fact that the action also has no reserve! I know some of you might be asking “how does this sweeten the deal?” or “what’s a reserve?” so, in short, not having a reserve means that the property must sell.

When a property is being offered “with reserve,” it means that the seller is not obligated to accept the highest bid unless it meets or exceeds a predetermined release price. So, in this particular online auction, when the auction is being held “without reserve,” the seller will be obligated to move forward with the winning high bidder. Got it? O.k. great.  Now on your marks. Ready. Set. BID (excuse the car/racing pun)! because this could be your only chance to pick up this asset at an incredible value.

For all of the online auction details, documents and photos, check out the auction webpage at FRE.com.

A Colliers International Sales Associate has brought a bank-owned historical estate out to Online Auction by utilizing the Never Lose a Listing® Program at www.FRE.com/1093-1. This property operates as a vineyard and event center, hosting events which range from weddings and receptions, to business and social lunches and dinners, as well as offering a tasting room.

The property owner is highly motivated to sell and has set an aggressive Minimum Bid and Bid Deadline, making the auction a great opportunity to pick up this asset at a fraction of the previous list price. 

For more information please visit the auction webpage, www.FRE.com/1093-1. Below is some general information regarding the auction:

Sunol, CA 94586 Minimum Bid: $1,950,000 Bid Deadline: Apr 21, 2011 5:00pm PDT A Historic 8.54+ acre estate nestled in the beautiful Sunol Canyon. The estate is located less than an hour from San Francisco and only 20 minutes from the Silicon Valley. For more details, please visit: www.FRE.com/1093-1

The Online Auction for a 6,500 square foot vacant building in Victorville, CA will reach its Bid Deadline today at 5:00pm. Formally a Cask ‘n Cleaver Steakhouse, this property has freeway frontage and incredible  visibility along the California Interstate 15.  With a highly motivated seller and a property location that sees over 90,000 commuters everyday, you’ve got to check out all of the property details on this auction.

For all of the due diligence materials, property photos and auction specifics, view the auction profile page at LFC.com.

The end of the year is always the busiest time for us, and this year has proved to be no exception. There are currently dozens of online auctions going on on LFC.com, including:

• Two contiguous ±12 acre parcels of vacant land in San Jose, California.
• A ±35,900 SF warehouse/industrial facility with a gravel yard, open floor plan and two private offices on ±8.44 acres in Oklahoma City, Oklahoma.
• A ±5,500 SF vacant office building in the College Park neighborhood of Orlando, Florida.
• A ±3 acre property in Williamstown, West Virginia consisting of two warehouses and a freestanding office building.
• Highlands Village, a proposed 79-lot residential subdivision in the popular northern California vacation destination of Clearlake.
• A diverse bank-owned land portfolio consisting of five sites throughout Wisconsin, ranging from improved condominium land in West Bend to ±103 acres of vacant land in Trenton.

LFC recently launched a new online auction campaign for some highly desirable commercial development land in San Jose. The auction features two contiguous ±12 acre parcels of vacant land located at the intersection of Yerba Buena Road and Verona Road in the eastern part of San Jose’s Evergreen district. Both properties are zoned Campus Industrial and are bordered on the south by the U.S. headquarters of Hitachi Global Storage.

The two parcels are being sold separately. One parcel measures ±12.2 acres and has a minimum bid of $999,000. The abutting parcel, with ±12.13 acres, has a minimum bid of $899,000. Both minimum bids are nearly 80 percent less than the previous listing prices.

For more details on the properties and the auction, visit LFC.com/804L1. The bid deadline is February 3, 2011.

There’s a new campaign on LFC.com for some very desirable bank-owned development land. There are a total of seven properties for auction, including large land parcels in central California and Nevada.

The auction features:

• A ±40 acre residential land parcel in northern Sacramento, part of a large master-planned development called The Panhandle, has a minimum bid of just $295,000.
• ±960 acres of vacant land mapped for 676 residential units within the proposed Mortensen Ranch master-planned development in west Reno, Nevada. This property has a low minimum bid of just $995,000.
• Two separate land parcels near downtown Clovis, a suburb of Fresno, one totaling ±8 acres, the other comprised of ±18 acres. The smaller property has a minimum bid of $125,000. The larger parcel, which is zoned for multi-family residential development, has a minimum bid of $350,000.
• Three adjacent vacant residential land parcels, ranging in size from ±18 acres to ±20 acres, near downtown Yucca Valley, in San Bernardino County. The properties are being sold separately, and have minimum bids between $12,500 and $15,000.

Click here to visit the auction webpage.

Related Posts:

• New Commercial Development Land in San Jose
• New Online Auction for Bank-Owned Development Land in Wisconsin
• Online Auction for 16 Luxury Homes Sites in Reno, NV
• Online Auction for 28 Properties in Western Montana

The Never Lose a Listing® program is the newest addition to the LFC Group of Companies’ online auction platform, and we would like to highlight the first success story from this program for real estate professionals. If you missed our first post about Never Lose a Listing®, I’ll bring you up to speed on how the program works.

Never Lose a Listing® is aimed at commercial real estate professionals who want to utilize LFC’s online auction technology at no cost while keeping 100% of their sales commission. Real estate professionals looking to diversify their marketing strategies can use this program to build and run their own online auction campaigns, helping them capture buyer attention in today’s saturated commercial market. Participants in the program manage all of their online auctions while keeping a close watch on their prospects through the platform’s detailed prospect management tools.Furthermore, prospective buyers are directed to the broker’s exclusive landing page as participants market their listings independently from LFC.

One of the first real estate professionals to auction commercial property with this program generated a tremendous amount of buyer attention by utilizing LFC’s marketing tools, and in return, received multiple bids on the property. The auction was originally scheduled to end on April 29th, 2010, but the seller elected to invoke LFC’s patent-pending bid extension process, LAST CALL®, and the frenzy of competing buyers kept the auction going for an additional six days. In previous posts, I’ve explained how the extra time afforded by LAST CALL® protects bidders from unfairly losing the auction and allows them extra time to deliberate through their due diligence. Needless to say, the bidders might never have found their way to the online auction if not for the broker’s persistent use of LFC’s marketing tools.

One such cost-effective tool is auction signage. With Never Lose a Listing®, participating brokers can purchase the same signage that has proven remarkably effective throughout LFC’s storied history. Each auction sign, as well as all marketing fliers generated by the system, feature a unique URL that takes interested buyers directly to the auction property’s webpage, where prospects can view more property details and photos and perform extensive due diligence prior to placing a bid. Signage is one of the most cost effective and successful forms of marketing an online auction, and LFC streamlines the process, allowing brokers to focus on what they do best.

We expect this broker to capitalize on the opportunity to continue using LFC’s online auction technology in the near future, and we hope that his new auctions are as successful as this one. For more information about this program, visit LFC.com/NLL now.

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