Auction? What auction?

I was at auction in the Bradenton and Palmetto area for waterfront property on Saturday.

Out of seven properties, six houses and one lot there was only one acceptable bid for $250,000 for a house on a canal.

One house at the end of a canal right on the Manatee River the bid went no higher than $400,000.

Add to that a lot on a canal on one bid up to $235,000. The lot nearby has an asking price of more than $500,000.

The minimums on six of the homes could not be reached.

This tells me either buyer's are being even more cautious and waiting for the market to go down or were hoping to make an even better deal after the auction.

One more thing it tells me that waterfront now is becoming extremely affordable.

All the best
Greg Owens PA
Keller Williams Realty of Greater Manatee
941.779.5149