Innovative Approach to Selling Your Home - Round Robin Weekend

The ongoing real estate slump is leading to more and more creative ways of marketing homes. One innovative approach utilizes “Round Robin Bidding,” which is an increasingly popular method of selling a home in a single weekend (The 2-Day Sale).

Here’s how it works: Take for example the house at 10131 Prestwick Trail in Heritage Estates. After a week of heavy advertising, it will be open for inspection from noon - 4 pm on the sale weekend, August 25 and 26. Those interested in buying have until Sunday night to submit an open offer. The highest reasonable bid gets the house. It’s that simple.

Given the downturn in residential real estate, what is “reasonable” often means a price well below market value. This home has been appraised at $1,800,000, but the minimum bid is over 60 percent below that at $695,000.

Located on the 16th hole of the exclusive Lone Tree Golf Course, the beautifully landscaped property, complete with waterfall, features panoramic views of the mountains and the downtown skyline. The sweeping circular drive fronts a 4-car garage. Inside are five spacious bedrooms, six bathrooms, a media room, an office, and five fireplaces to keep off the chill of Colorado winters. (Pictures at www.realestatechamberofcommerce.com/vaughn.php.)

There is an added bonus for the winning bidder that has to do with the two airplanes the homeowner owns, but the details won’t be released until the Open House.

Call 720-318-9384 and see if he’ll let you in on the secret before the sale.