Tampa Bay Times from St. Petersburg, Florida on April 14, 2019 · H1
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Tampa Bay Times from St. Petersburg, Florida · H1

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St. Petersburg, Florida
Issue Date:
Sunday, April 14, 2019
Page:
H1
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HOM Tampa Bay Times | Sunday, April 14, 2019 | 1H Homes Sold in the bay area Woodlawn in St. Petersburg: This beautiful single-family home with detached in-law quarters/guest suite or a potential income-producing property was turnkey! Boasting a 3-bedroom, 2-bath main home with over 2,200 square feet of living space. Large family room with heart of pine flooring, a wood-burning fireplace, and French doors leading out to the front porch. This home was listed at $385,000. Northstar Realty, Katie Mallah $398,000 2302 12th St. N.4 bedrooms, 1½ baths Edee Estates Seminole: Ranch style, concrete-block home located in lively Seminole is situated near the end of a quiet cul-de-sac on over 1⁄4 acre of land and features 3,231SF of living space. This home was listed at $399,000 and sold for $395,000. Smith and Associates, Debbie Momber and Lee Stratton $395,000 13346 84th Terrace4 bedrooms, 3 baths Estates of East Lake Woodlands in Oldsmar: This beauty has 5 bedrooms, 3 baths and a 3-car garage, sitting on .38 acre conservation lot! 12-foot ceilings, glass French doors. Back of home is lined with glass,with full viewof the conservation. Gourmet kitchen, split bedroom layout, optional double master suite. Wired for video security, CAT 5, reverse osmosis system, water-filtration system and custom hurricane shutters! This 3,023 sq.ft. home was listed for $515,000 and sold for $515,000. Century 21 East Lake Realty, Shannon Perrott $515,000 1880 E. Lake Woodlands Parkway5 bedrooms, 3 baths Brandon:No direct backyard neighbors! This is awonderful opportunity to own a home in a quiet loop street community on a greenbelt. This three-bedroom, two-bathroom home is the perfect oasis in the middle of Brandon! Inside awaits a bright open floor plan with plenty of space including a wood-burning stone fireplace! This 1,460 sq.ft. home was listed for $180,000 and sold for $185,000. Signature Realty, BrendaWade $185,000 818 Greenbelt Circle3 bedrooms, 2 baths TO SUBMIT YOUR SALE for consideration in this column, please send us a photo of the home plus the address, sale price, listed price, month sold, number of bedrooms and baths, and a short description. Go to https://tampabay.wufoo.com/forms/homes to submit homes sold. “Home auction,” read the newspaper advertisement. For the seller, it means a gavel will fall and they’ll have the sale they need. For buyers, it could mean a dream-come-true: a beautiful home at a bargain price. American Heritage Auction- eers has been serving the Tam- pa Bay area for 60 years, and is a full-time real estate auction business. Michael Peters, who operates the family company, estimates he’s personally sold 5,000 homes at auction. Amer- ican Heritage owns its own ad- vertising agency, the only real estate auctioneer in Florida that does, said Peters. It’s a big plus when it comes to drawing large crowds of buyers. This week, that advertising power resulted in a buyer from outside the U.S. who is making an offer on a $3 million home in New Port Richey, said Peters. It’s also one of the reasons former Tampa Bay Buccaneer Vinny Testaverde’s Odessa lakefront home ended up with American Heritage. It sold at auction this month. American Heritage holds absolute and reserve auctions, depending on the nature of the property and the seller’s desire, but Peters estimates about a third of his auctions are abso- lute, which means the highest bidder wins, no matter the final selling price. He likes the format for desirable homes in desirable neighborhoods, and with years of experience, he knows he can get the seller a great price. He won’t take a seller who wants to set a reserve too high, and advises sellers that 99 percent of his reserve auctions succeed when the reserve price is rea- sonable. “There are only a handful of real, real estate auctioneers who sell by auction only,” said Pe- ters, who recommends anyone looking to sell by auction inves- tigate how long a company has been in business and howmany auctions it has conducted. That goes for bidders, as well. He doesn’t require bidder depos- its, which when combined with the “absolute” format draws the biggest crowds of bidders, he said. Those crowds offer the potential to exceed the buyer’s expectations. “Auctions are the rage now,” said Peters, who cautions sell- ers about using inexperienced auctioneers who see auctions as a hot new tool to attract quali- fied buyers that can be turned into buyers for properties other than the one being auctioned. He also warns against online auctions, which could involve shill bidding to drive up the price. “You don’t know who you are bidding against,” he said. “How can you have a transparent sale online?” There’s just something about the power of the word “auc- tion,” said Josh McLennan, a broker associate and auctioneer with Century 21 Beggins Enter- prises. “By just using the word auction, the seller focuses the buyers on the property.” McLennan said even adver- tising an auction alone can lead to a sale before the home ever goes on the block. He recalls a buyer who saw an auction ad for a Tarpon Springs home McLennan’s company ran in Oklahoma. The Oklahoma buy- er had never heard of Tarpon Springs, but, intrigued that it was an auction, investigated and realized Tarpon Springs was close to Clearwater, where he had been shopping. “He would have never seen this without the word auction,” said McLennan. “People grav- itate to properties before the auction” when it is advertised in advance. Beggins Enterprises auctions are structured in three phases, said McLennan. Phase one, or pre-auction, gives the buyer time to mull over things like a reserve price, and buyers have the opportunity to respond to pre-auction ads with offers to avoid having to go against bid- ders. Phase two is a 30 to 45-day period before auction day, which also gives sellers and buyers a chance to deal. Phase three is an auction, and provid- ing the seller’s reserve is met, the home is auctioned. McLennan said his auctions include some lower-priced homes, but the majority are $1 million-plus properties. Almost all involve a reserve price, or the minimum the seller will ac- cept. It’s rare that the minimum is not reached, said McLennan, but if it isn’t, “we’ll pull the top two bidders aside and negoti- ate.” John Harris of Harris Auc- tions LLC does things different- ly, usually putting a home on the conventional real estate mar- ket and listing with the Mul- tiple Listing Service for three months before going to auction, providing the seller is not in a distress situation and can af- ford the time. If a home doesn’t sell and it goes to auction, Homeauctionsoffer opportunity forbuyers, sellers alike BY NICK STUBBS Times Correspondent The grand staircase and fountain illustrate the opulence of this 7,680-square-foot luxury home in Zephyrhills auctioned by American Heritage Auctioneers. Luxury homes are a spe- cialty of the 60-year-old real estate auction company. Waterfront homes like this one handled by American Heri- tage Auctioneers never fail to get big interest from bidders, often netting sellers far more than they expected. See Auction on 2H This majestic Georgian-style luxury home is just one of many auctioned by American Heritage Auctioneers. All photos courtesy of Heritage Auctioneers

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