Fort Langley property to be auctioned off
Metrovalley Newspaper Group | Friday, March 31, 2006 | Section: Langley Times - Business

On Saturday, a rare three-acre waterfront building site with 205 feet of Fraser River frontage in Fort Langley will be auctioned off to the highest bidder.

This is one of the last undeveloped premium building sites in Fort Langley; for 50 years it has been off the market.

While the decision to sell this property may have taken half a century; the actual sale will be a different story. It will sell in no more than a few minutes because it will be auctioned off to the highest bidder.

"Selling homes by the auction method is a growing real estate trend. It's actually the most rapidly-growing section of the auction industry," says Dan Bouchard, founding partner of Vancouver's Able Auctions and a licensed realtor. "This weekend's auction represents a rare opportunity to obtain an Allard Crescent address between the Derby Reach Regional Park and Fort Langley; we expect the property to sell very quickly."

Last year, Bouchard established Able Realty Corp, one of B.C.'s only real estate auctioning companies. The company's first home sale resulted in a Deer Lake residence assessed at $1,050,000 selling for $1,060,000.

The owner didn't want the fuss and hassle of a lot of showings and time spent selling using the traditional route. Comparatively, the auction selling method was a breeze.

"We are auctioneers who know real estate," he adds. "There are three elements to real estate sale: price, sale time and sale terms. Auctioning real estate is becoming popular because it allows you to control both the time and terms."

Real estate auctions are beginning to attract global attention. In March 2006 alone, the summer home of John F. Kennedy's grandfather was auctioned off in Hull, Massachusetts for US$950,000 and an auction believed to be the largest online sale of real estate in the world recently earned more than US$60 million for a Florida community.

Canada is also no stranger to this phenomenon. Gordon's Auction, an Ontario company, has successfully sold over 800 diversified properties in 47 years.

Auctions have also become more popular in Calgary, where there is a booming real estate market.

The Fort Langley property is assessed at $582,000 and can be viewed in advance of the auction. Saturday's auction will be held at Fort Langley Community Hall, 9167 Glover Road.

Bidding will begin at 11 a.m. It is expected to be heated and brief. Details on Able Realty Corp. and the Fort Langley property are available at www.ablerealty.ca.á

Copyright 2006 Langley Times