Government Auctions
How Government Auctions Work
Every year various government agencies, from four different levels of government, federal, state, county, and city, auction off millions of dollars of seized an unclaimed property. These government auctions and police auctions are open to the public, with many items having no reserve, which means the high bid takes it, even if the high bid is a dollar. All anyone needs to know to attend one of these auctions is where and when they are happening. Before the rise of the Internet, this information was difficult to come by because the government always put limited resources into publicizing them.
When the Internet came along, things got a little easier, and most people could find big police auctions and government auctions like the US Treasury auctions, but most government auctions still remained difficult to find. In 2002, PoliceAuctions.com launched, offering the most comprehensive and robust set of listings in the government auctions space, providing an easy way for people to find government auctions information. By 2007, PoliceAuctions.com had refined and developed their site into one of the most interesting and powerful websites on the Internet. Use GovernmentAuctions.us.com to get a general overview of Government Auctions and police auctions, then use sites like PoliceAuctions.com to get the actual government auctions data.
Investing in Foreclosures
Not so long ago, home sellers had the upper hand when selling their homes. Prospective buyers would scurry around trying to get their offers in before someone outbid them and offered higher than the asking price. It's amazing how all that has changed as the market has cooled. The real estate market is trending towards a buyers market nationally, and that spells good news for bargain hunters because there is more pressure on sellers to negotiate.
Another pressure point is the growing number of foreclosures due to both the market downturn and the funny money people used to finance the homes in the first place. I'm talking of course about adjustable rate mortgages (ARMs). Many people who were desperate to buy a house used ARMs to finance and are now caught with higher payments they can't afford as interest rates continue to climb. And since there is no longer a ready pool of eager homebuyers to gobble them up, a greater number of these homes are falling into foreclosure. The Key again is knowing where to get the information and once again the Internet has made getting these listings easy as well as instantaneous. Websites like ForeclosuresToday.com provide an daily update of foreclosure listings, and even pre-foreclosure listings, which can be a real advantage when bargain hunting for real estate.
Government Auctions Cars
By now you've probably seen ads all over the Internet about cars from $500 or less or other sites claiming to sell cars for pennies on the dollar at government auctions. Is this for real? Yes and no. Cars do sell at government auctions at substantial savings and often at below market value; however, no one is going to get a $42,000 Mercedes for $500. Ain't gonna happen.
If a car does sell for $500, then most likely that is a reflection of age, condition, miles, or mechanical factors. You also have to remember that when you are buying a car at government auction there is no warranty, which means there is mechanical risk involved and that typically depresses the bidding.
Having said all that, government auctions do provide an opportunity for the public to bid on cars that can be resold for a profit by people that know what they are doing, both financially and mechanically. The average person could also pick up a cheap car if they wish, as long as they understand the risks of buying a car without a warranty. Sites like PoliceAuctions.com provide a quick and easy way to find government car auctions listings.
