Weston, WI Commercial Property up for Online Auction

Posted by rbennett on February 03, 2010
Featured, Wisconsin Commercial Real Estate Auctions / No Comments

Today we’re launching our latest online auction campaign on LFC.com for commercial properties in Weston, Wisconsin. There are two properties up for auction in this campaign, both with a bid deadline of March 25th.

The first property is a newly constructed +/-18,500 SF retail/office complex that sits on about 7.7 acres of commercially zoned land. The building features four suites: two conference halls, a restaurant, and a large office suite. There are also three out-lots available for the future construction of retail or office buildings. All share a common parking lot.

We’re also auctioning a +/-4 acre parcel of land that lies adjacent to the property above. This is one of the last remaining undeveloped lots available in the Weston area. The land is zoned M-1 commercial and allows for most commercial uses.

Both of these properties have great potential for growth and development in a spectacular Midwest village. Like I mentioned in my coming soon post for this auction, you should check out the short video that the Village of Weston has put together about the town and the surrounding area. It gives a great overview of Weston’s many amenities for those unfamiliar with the area.

Like all of our online auctions, you can view a plethora of photos, download all necessary documentation for your due diligence, and place bids on this auction all from the comfort of your personal computer. To learn more, click here to visit the auction website now.

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Coming Soon: Online Auction for Commercial Proerpty in Wisconsin

Posted by rbennett on February 01, 2010
Wisconsin Commercial Real Estate Auctions / No Comments

The LFC Group of Companies is currently preparing to launch its newest online auction for property located in Weston, Wisconsin. I can’t share any specific details until the auction begins on February 3rd, at our online auction website, LFC.com. However, I can share some geographical info pertaining to the Village of Weston.

Weston is situated in Marathon County and falls under the statistical metropolitan area for the city of Wausau. This town may not boast a metropolis-sized population, but it is increasingly becoming a significant stop between Minneapolis, Minnesota and Green Bay, Wisconsin. The Village of Weston has put together a short video that explains the town in much greater detail. Please click here to see the video and check back in with us when the auction starts later this week!

If you would like more updates on all of our online auctions and commercial real estate news, follow us on Twitter at http://twitter.com/LFC_Auction.

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Columbus, Ohio Bidding Frenzy

Posted by rbennett on January 12, 2010
Ohio Commercial Buildings For Sale, Ohio Commercial Real Estate Auctions / 1 Comment

Our auction of a former auto dealership in Columbus, Ohio has come to an exciting end! The facility was comprised of three buildings in a high traffic industrial area. I don’t know if it was the property, the commercial land’s potential for redevelopment, the low minimum bid or the facility’s location that sparked such intense interest, but I can say that several bidders restlessly rose the stakes until one individual eventually won the property.

An initial bid deadline was set for December 17th, 2009, but the energized bidders continually extended the Bid Deadline for an additional 3 weeks! In each of LFC’s auctions, the seller has the right to invoke our patent-pending bid extension process called LAST CALL®, which extends the bid deadline by an additional 24 hours. Each time a new bid is placed, the deadline is extended once more.

LAST CALL® protects bidders from auction sniping. If you are familiar with other online auctions sites such as eBay, you know that everyone interested in the auction waits until the very last second to place their bid. There is even software that will automatically enter a bid in the last millisecond of the auction, what we call “auction sniping.” LAST CALL® protects bidders by eliminating the possibility of “sniping.” Real estate is a rather large investment to make online and we strive to give all bidders a fair chance at winning.

Understanding that real estate is a rather large investment to make online, we made the LAST CALL® extension increment 24 hours to give bidders plenty of time to deliberate. Similar to the live auctions held in a hotel ballroom or on the steps of a courthouse where auctioneers cry out, “Going once! Going twice! LAST CALL! SOLD!”, we give bidders extra time to calculate how much they are willing to pay for a property. However, unlike live auctions, which only give bidders mere seconds to analyze a property’s worth, we want bidders to take their time and make decisions rationally rather than in the heat of the moment.

In this recent Columbus campaign, LAST CALL® lasted for several weeks, driven by several bidders who competed throughout the holiday season, bidding on both Christmas and New Year’s Eve. Finally, the auction ended on January 8th, 2010 and the sale is now currently pending.

Thank you to all who followed our real time updates for this auction on Twitter (@LFC_Auction). If you didn’t stay up to date with our tweets you can view the Bid History on our commercial real estate auction website LFC.com.

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Lower Minimum Bids on Ft. Lauderdale Auction

Posted by rbennett on December 22, 2009
Florida Commercial Buildings for Sale, Florida Commercial Real Estate Auction / No Comments

We have already sold three of the remaining office/retail units in the Developer Closeout Auction at Nu River Landing and only two units remain for sale. Theminimum bids for the final two units have been lowered in this “Last Chance Auction” and a new deadline has been set, but I will explain why lowering a minimum bid is a marketing tactic we rarely use.

Here at LFC, we are shameless when it comes to explicitly advertising the benefits sellers get when they participate in an online real estate auction. As I mentioned in my most recent post on our residential real estate blog, I have gone as far as climbing up and advertising on the seller’s yacht for our auction of two condos on the Newport Beach Harbor in Southern California as well as having put up 40 directional signs for a single open house. Unfortunately, there are no boats to advertise with in the Nu River Landing auction, but this auction has generated quite the marketing buzz due to the other auction advertising we’ve done.

With three units sold, our marketing team has gone as far to give the Nu River auction the sub-title “If these prices don’t get you excited- Nothing will!!!” The marketing team strategically placed this at the top of the auction event’s web page because minimum bids are the focal point in all of our auctions.

When prospective buyers hear the word “auction” they think there is a deal to be had. That is why the minimum bid must be tantalizing enough to draw bidders into our online real estate auctions. Moreover, minimum bids are a major aspect of online auctions that differentiate their sales from traditional real estate.

If no offers are made on a traditional real estate listing, sellers often feel the pressure to reduce that listing price. This is commonly called chasing down the market, meaning that sellers will lower their price until an offer is made. If the property sells, the purchase price can be closely considered the market value for that property. Auctions work the price from the opposite direction. When pricing begins at a value much lower than what the seller considers to be the listing price (or “suggested value” as we call it), prospective buyers bid until the highest bid is not surpassed before the deadline.

The Bid Deadline for the Nu River Landing Auction is January 14, 2010 and we are expecting to see some considerable action on the last two units. I’m not going to get into explaining the strategy behind the Bid Deadline process in this post, but I will be sure to get one out before the year’s end.

Feel free to leave a comment if you have any questions!

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About this author: Casey Flynn is the Communications Manager for the LFC Group of Companies. He also coauthors on ResidentialRealEstateAuctions.com and RealEstateNoteAuctions.com

Today is the Bid Deadline in Columbus OH Auction

Posted by rbennett on December 17, 2009
Ohio Commercial Buildings For Sale, Ohio Commercial Real Estate Auctions / No Comments

Last week I posted a short piece about our commercial real estate auction of a former auto dealership in Columbus, Ohio and I cannot believe how fast time has flown. Just when I thought things would be calming down at the end of the year, our auction deadlines keep creeping up! Without further delay, here are some property details about the auction.

The property is comprised of three buildings for a total +/-35,471 SF facility on approximately 8.96 acres which includes:

  • a showroom built in 1971
  • a used car building built in 1984
  • a body shop built in 1994

The entire site is paved with asphalt and the property is zoned “Community Service” (CS) with a variety of uses.

Lastly, this high traffic location is surrounded by several automotive dealers including Bobby Layman Chevrolet and Haydocy Pontiac.

The Bid Deadline is TODAY at 8:00 PMEST. You can view all of the property details and documents at on our commercial land and real estate website, LFC.com

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About this author: Casey Flynn is the Communications Manager for the LFC Group of Companies. He also coauthors on ResidentialRealEstateAuctions.com and RealEstateNoteAuctions.com

Another LFC Property Moved to Online Bidding!

Posted by rbennett on December 16, 2009
Nevada Commercial Real Estate Auctions / No Comments

Our LFC auction in Reno, Nevada is picking up steam, and the seller has decided to move 5 of the 7 properties into our open online bidding format. The Bid Deadline also extended into Wednesday, December 16th, at 5:00 PM PST as the auction continues .

Generally, auctions open in a Sealed Bid format. much like what one would find at a silent auction. Then, as market demand increases, the seller has the option to move the auction into the open bid format, allowing everyone to view the bid history and current high bids. Here are some properties that were recently moved to open bidding on our commercial real estate auction site, LFC.com:

-Online Bidding Status-

Current High Bid: LFC # 805-1: $159,000 (click here to view details)
Current High Bid: LFC # 805-2: $165,000 (click here to view details)
Current High Bid: LFC # 805-3: $187,500 (click here to view details)
Current High Bid: LFC # 805-4: $161,600 (click here to view details)
Current High Bid: LFC # 805-6: $102,500 (click here to view details)

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About this author: Casey Flynn is the Communications Manager for the LFC Group of Companies. He also coauthors on ResidentialRealEstateAuctions.com and RealEstateNoteAuctions.com

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1 Week Left in Columbus, OH Auction

Posted by rbennett on December 12, 2009
Featured, Ohio Commercial Buildings For Sale, Ohio Commercial Real Estate Auctions / No Comments

Though the weather outside is frightful, this hot deal is delightful for any CRE investor looking for a new opportunity. With the Bid Deadline for a former auto dealership in Columbus, Ohio just 1 week away, we want to fill you in on all the details.

This +/-35,471 SF facility on approximately 8.96 acres is comprised of three buildings:

  • a showroom built in 1971
  • a used car building built in 1984
  • a body shop built in 1994

Like all of our commercial auctions, we post all available documents provided by the seller on our website. This way, you can perform your due diligence from anywhere you get an internet connection.

The Bid Deadline is 8:00 PMEST on December 17th. You can view all of the property details and documents at LFC.com

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About this author: Casey Flynn is the Communications Manager for the LFC Group of Companies. He also coauthors on ResidentialRealEstateAuctions.com and RealEstateNoteAuctions.com

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Bid Deadline for Auction in Pixley, CA

Posted by rbennett on December 11, 2009
California Commercial Real Estate Auctions, Featured / No Comments

The auction for +/- 89 acres of development land in Pixley, California is coming to an end TODAY at 5:00 PMPST.

Pixley is located in the heart of California’s Central Valley in Tulare County. Situated between Visalia and Bakersfield, this Lender-Owned property is in the economic center of the Sequoia Valley region.

Broker participation is offered in all of our auctions and with only hours left in the auction, come see the auction event page to view all of the property photos and auction details at LFC.com.

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LAST CALL® Extends Bidding Agian

Posted by rbennett on December 09, 2009
Featured, Nevada Commercial Real Estate Auctions / No Comments

After receiving another bid on a property for the Whispering Pines auction of six homesites and development land in Reno, NV, the Bid Deadline was extended until today at 5:00 PM PST.

This extension of the Bid Deadline allows interested bidders a final opportunity to place offers on homesites within the luxury community of Caughlin Ranch.

Two properties have been moved from Sealed Bidding into an Online Bidding format, similar to what one might find at eBay.com. Now the highest bids are visible to the public on the auction event web page.

Go to LFC.com to check out which of these properties will sell in this online real estate auction.

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Whispering Pines Auction Moves into LAST CALL®!

Posted by rbennett on December 05, 2009
Uncategorized / No Comments

The online auction for luxury homesites in the Whispering Pines neighborhood of Reno, Nevada’s Caughlin Ranch has been extended until Monday, 12/7/2009 @ 5:00 PM PST.

As multiple bidders fiercely competed for this property, the seller chose to invoke LAST CALL®, our patent-pending process that extends the bid deadline until no more bids are received, giving everyone a fair chance to submit new bids before the auction ends.

The new bid deadlines for the six luxury homesites and development land have been set for Monday evening. Head over to LFC.comtoday to check out the exciting conclusion to these auctions.

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About this author: Casey Flynn is the Communications Manager for the LFC Group of Companies. He also coauthors on ResidentialRealEstateAuctions.com and RealEstateNoteAuctions.com

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