Auctions: Absolute vs. Reserve

There are basically 2 types of auctions: absolute and not absolute, also called reserve. 

ABSOLUTE auctions mean that the property will sell to the highest bidder regardless of price. The advantages of this method is that absolute auctions traditionally get 10-20% higher prices. Historically more bidders show up to an absolute auction. More bidders means more competition = higher price. There is typically no way to mitigate risk except for the auctioneer to cancel the auction (no or low bidders, inclement weather, tragedy). The downside is that the property may sell for much less than expected/hoped for.   Absolute auctions work great for estate situations where there is no lien and the heirs would prefer timely closure. However we're seeing more and more high end/trophy homes sell via absolute.

RESERVE auctions means that there is a minimum price set. It can also mean that the seller has simply reserved his right to accept or reject the high bid. There are many variations for a reserve auctions. ' 
- Published minimum bid (seller will sell above the published minimum bid to highest bidder). Usually the minimum bid must be 'stupid low' in order to be attractive to lots of bidders.
- Subject to sellers confirmation: seller has the right to accept or reject the high bid. Remember that the seller is typically vested in the process (he's fronted the marketing money) and WANTS to sell. He doesn't have a specific minimum number because he is willing to consider the lowest reasonable offer.
- Opening Bid: different than the minimum bid because it's non-binding on the seller. It's simply a place holder for where the bidding will start. Sometimes auction firms will advertise a 'stupid low' opening bid but the sale is still subject to owner confirmation.

The Absolute concept has been abused in the past - state legislation and the National Association of Realtors have adopted strict guidelines/rules for advertising absolute auctions.

If you have any questions on real estate auctions, or other type of auction, please email me. I'm happy to offer any assistance.

StoresOnline & Bank of America Saga seems a little better

Cont.-My Nightmare Customer Service Saga: It's a very complicated story! I didnt hear back yesterday or today from the customer service's manager like they said would happen but I did have email communication with another person at StoresOnline today. I feel better and I temporarily fixed the 'trickle effects' with BOA myself.

Storesonline Refund Impossible

Here is a link to something I found on-line about the Company "StoreOnline" and what other people have gone through trying to get a refund. This has truly been a Nightmare Experience. Please let me know if you have had any experiences with StoresOnline, and also if you have any advice. In Short, I cancelled within the three days like it said on the contract, and never received any service from the company. To make sure I got my money back, I put in a dispute with my credit card company Bank of America, which has been a whole other set of problems with them relating to this. It's Unbelieveable how a company can continue to SCAM people like they have for so long and get away with it. I wish I had seen the reviews before I ever made a purchase. As soon as I get my situation resolved I will stop the "bad press" but for now since I have been 'wronged', I want to make sure that no one else goes through this anguish like I have. Today, I contacted the Attorney General's office and filed a complaint there. When I mentioned the name StoresOnline, the lady said they had numerous complaints about the company. There was even a Class Action Law Suit in Memphis, TN and StoresOnline settled outside of court. I could go on all day about the whole ordeal, but I'll keep this blog entry short. Read my other blog posts for more details to come. Storesonline Refund

Customer Service Nightmare Saga, ft. Companies "StoresOnline" and "Bank of America"; Background Info. The Good, but Mostly The Bad & Ugly

This in an Introduction Background to what may turn out to be a multiple-part story.
Whatever happened to the customer is always right? Or never mind that, what about doing the 'right thing'? Gosh - Lets just go back to the Golden Rule! Does anybody happen to know what that is? With my nightmare experience with customer service from the two companies "StoresOnline" & "Bank of America", the answer is "NO" for them. This blog entry may or may not be the last on this saga, depending on how things go from a phone call that I am supposed to receive tomorrow from StoresOnline. Hopefully, this will all be remedied and I can get off of my 'soap box' but if not, this may be just the beginning of a Real life nightmare saga that might be good enough for a book, or a movie for that matter. It'll make you laugh, cry, empathize, and be shocked! By no means would I want to hurt their business, But if things don't have a "Happy Ending" tomorrow, then I feel obligated to share my experience & all details with others to help prevent this same thing from happening to anyone else. Just a cliffhanger for the next blog "Part I"(Everything that happened): over 12 hours cumulative on the phone, getting disconnected 11 times, customer support really ought to know better English, a company not sticking to their word, a Scam, many many tears, and poop! (Yes, I literally mean poop.) And to think all of this is just a taste of Part I. Maybe "Part II"(the end result) will shock me and be a turn of events, because I'm not sure how much more I can take. No matter what happens, I'll keep you posted with either the good or bad news. If good then I'll simply post the praises and be done with this or If bad then I'll give countless details on this multiple-part Nightmare Saga, complete with recorded conversations that you won't believe. Wish me luck & Stay Tuned...

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Prayer to Saint Joseph - Do you think this helps in selling your house?

Saint Joseph (San Jose in Spanish and San Giuseppe in Italian) is petitioned by many conservative Catholics as one who grants an easy death, but in the wider world of Catholic folk-magic, he is the Patron Saint of real estate matters and home sales, and as Saint Joseph the Worker, he helps people find employment. The reason given for these beliefs is that he was a carpenter who taught his step-son Jesus the carpentering trade, and he always saw to it that Jesus was well housed.
Saint Joseph is particularly popular among Sicilian-Americans, and they credit him with having saved the nation of Sicily from famine by bringing about a bountiful crop of Fava Beans and a good fish catch at a time when all other sources of food had failed. It is still the custom to prepare a meal of Fava Beans on Saint Joseph's day, and to set out a dish of the uncooked beans -- called Saint Joseph Beans -- for visitors to take home as lucky pieces. In New Orleans, where Sicilian fishermen settled, the custom of wishing on Saint Joseph Beans long ago transferred into the African American community and became a staple practice of hoodoo rootwork. Seven of the beans, locally known as "Mojo Beans" or "African Wishing Beans," are carried in the pocket for seven days and then thrown into running water over the left shoulder while making a wish.

SAINT JOSEPH AND REAL ESTATE SALES

The custom of burying a statue of Saint Joseph upside down in the yard while one's house is for sale goes back a long way in the United States -- for despite an "urban legends" page online that pseudo-authoritatively claims the custom only began in the 1970s, i have ads in 1930s hoodoo spiritual supply catalogues that offer a tiny statue of Saint Joseph in a case made to carry him upside down.

The functional opposite to Saint Joseph -- that is the Catholic entity to whom one addresses a petition when one wants to buy or rent a house -- is Our Lady of Loreto.

The following is the text of a real estate ritual and prayer to Saint Joseph that i have written, drawing upon traditional sources, and which i also offer for sale online as a complete Lucky Mojo spell kit:

REAL ESTATE SPELL KIT

Alleged to Help in the Sale of Real Estate

1 Dressed and Blessed Saint Joseph Candle
1 Statuette of Saint Joseph
1 Bottle Saint Joseph Oil
1 Saint Joseph Chromo Print
1 Saint Joseph Holy Card
PREPARATION: This spell is used to make a home or other property sell quickly once it is listed on the real estate market. It is up to you to see that the premises are clean and that the asking price is within market value. In addition to the items here, you will need a picture frame for the print (it is 8" x 10" and fits in a standard frame) and a trowel to dig. If the property has no yard, you will also need a house plant in a large pot.
DOING THE JOB: Remove the cling wrap from the Saint Joseph candle and light it. It is already dressed with St. Joseph Oil and with three herbs used in real estate spells -- Cedar, Cinnamon, and Cloves. As the candle burns, hang the print of Saint Joseph where it will be seen by those who are viewing the house. Hide the holy card of Saint Joseph among your real estate papers (deed, termite inspection notice, mortgage, etc.). Spray or dab Saint Joseph Oil in the four corners of each room, each window frame, each door jamb, and the framed print. When you are done with this, hold the statue of Saint in the your hand as you recite the following:

PRAYER TO SAINT JOSEPH FOR SELLING A HOUSE
O, Saint Joseph,
you who taught our Lord
the carpenter's trade,
and saw to it
that he was always properly housed,
hear my earnest plea.

I want you to help me now
as you helped your foster-child Jesus,
and as you have helped many others
in the matter of housing.

I wish to sell this [house/property]
quickly, easily, and profitably
and I implore you to grant my wish
by bringing me a good buyer,
one who is
eager, compliant, and honest,
and by letting nothing impede the
rapid conclusion of the sale.

Dear Saint Joseph,
I know you would do this for me
out of the goodness of your heart
and in your own good time,
but my need is very great now
and so I must make you hurry
on my behalf.

Saint Joseph, I am going to place you
in a difficult position
with your head in darkness
and you will suffer as our Lord suffered,
until this [house/property] is sold.

Then, Saint Joseph, i swear
before the cross and God Almighty,
that i will redeem you
and you will receive my gratitude
and a place of honour in my home.

Amen.
Now take up the statue of Saint Joseph and dig a hole in your back yard. If there is no back yard, use the front yard. If there is no yard at all, dig a hole in a large potted plant. Bury the statue upside down, head downward, facing east, in the hole and cover it over. Let the candle burn continually inside until it goes out.
FINISHING UP: When the property sells, you MUST dig up the statue, clean it, and carry it with you to your new home, where it should be kept in a place of honour. Failure to do this will lead to trouble with the sale or trouble with the new home or property.

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