Going Once, Going Twice, Going Three Times... Real Estate Auction in Raleigh, NC

Going Once, Going Twice, Going Three Times... Sold to the highest bidder "Subject to Seller Approval" this is how it went today at the Raleigh Marriott City Center in downtown Raleigh this morning as 36 luxury condos at the WEST in Glenwood South area of Raleigh were auctioned off.

This was a successful auction for all. Buyers and Investors alike got great deals on beautiful properties & for those that financed the purchase these loans are at incredible interest rates. In years to come I suspect the Buyers that won bids on units at the West will be bragging about these purchases and how smart and lucky they were to have been there.

The developer successfully wrote 10M+ in business today and that is huge! Now there was some discussion bemoaning the fact that prior or current owners of condos at the West suffered a loss today, but at the end of the day did they?

Here are some points to consider:

- More lights turned on at the development
- The HOA will be fully funded
- The projected population of Wake County is expected to grow by 700,000 by 2020
- This is highly desirable location

The above facts are positive all around for this project. If you consider the short term view then yes it could be a loss for the other owners of units within the development, but if you take a long term view it was an all around success.

If we learn nothing from the prior market we must take a longer view when it comes to investing in real estate. It was the short term, quick buck mentality that got investors and home owners alike in to trouble.

Ironically we now have a market where we will see the best deals in our lifetime and Buyers are sitting on the sidelines. Well not all Buyers but most. Maybe this Spring the Sleeping Giant will wake up!

I am glad that I was there to experience this event and the Buyers and Investors that I met were particularly savvy. They are not waiting for the ground swell but they see the road ahead and these are the Buyers that will really benefit from this market!

SparkCon - Downtown Raleigh this weekend & 5K Race in Wake Forest for BackPack Buddies

Finally we get a break in the weather and it is time to play outside! There are two great events that I personally plan to be involved with this weekend. I started out this  morning in Wake Forest  working registration for a BackPack Buddies 5K Race & here is why we do it my co-worker Rich Bove' & I along with a few other fabulous volunteers got to greet the runners and their families as they checked in. There was also a 1 mile fun run and a kids run. Oh my were the kids cute!

People were also able to drop off donations of snack foods that go directly to this program. If you do not know much about this program it is a much needed program. There are regular drop off spots for food / snack donations like Wake Forest Chamber of Commerce, Dinners at Home in Wake Forest & The Factory also in Wake Forest.

If you have any questions about this program, want to volunteer or want to know what foods are appropriate contact Rebecca Warriner you can read about why she does this and how to contact her. Today's event supports the Wake Forest & Rolesville programs.

More fun to be had this weekend!    

Another great event in the Raleigh Area going on Downtown this weekend is SparkCon! This is a wonderful event that started Thursday and goes until Sunday Sept 19th. This is an outdoor event in the streets of all kinds of art, music, fashion...to name a few. Check out the calendar of events here for SparkCon!

Whatever you choose to do this weekend make the best of it and spend time with the ones you love! It is easy to enrich your life, it is easier to enrich your life if you turn off the tv & get off of the couch (unless your favorite college team is on or you are reading a good book!)

Have a great September weekend!