Julie Emery, a real estate agent who authors the Piedmont Real Estate Blog, attended a Tranzon real estate auction in Fairfax last Thursday. This was my favorite part of her review of the auction:
"I was also struck by some of the comments by Tranzon, both the auctioneer and the gentleman providing the descriptions of each property. Comments like "You know this is going to be worth $350K in a year or two" and "The value on this can only go up" were shocking to this REALTOR who has been trained to never misrepresent value. And, the interesting thing is that I think those kind of statements were actually counterproductive. You could hear some of the scoffing after these comments as the potential buyers seemed to be reminded of the current state of the local real estate market and the folly of such predictions".But the whole post is informative.