Two luxury homes in the Triad are headed to the auction block in December, and brokers say they could potentially sell for significantly less than their original asking prices.
It's all part of an auction process that's an increasingly trendy way for high-end home owners to sell their homes quickly.
John-mark Mitchell is a Principal Broker with eXp Realty and is working with a company called Concierge to auction the homes next month.
One property is a 14,000 square foot home with seven bedrooms in the Bent Tree community of Winston-Salem. It boasts a gourmet kitchen, home theater and wine cellar on 3.8 acres.
"A lot of people think if you're auctioning, there's a distressed sale or sellers or anxious. But these homeowners are just actually wanting to move forward in the process,” he said, referencing the Winston-Salem property.
The second home up for auction is a 12 acre, 12,000 square foot manor in Lexington. It is designed after Winston-Salem's Graylyn estate, highlighting castle-like turrets and wall paneling.
Mitchell said in general, luxury homeowners also don't want to pay to maintain a house for years, waiting for just the right buyer.
"We have a lot of people who instead of chasing the buyer by reducing the price because it hasn't moved, we are actually letting the buyer come in and say, 'Hey make us an offer!"
Mitchell added, "The market has actually gotten a lot better overall."
Real Estate reports show significantly more homes selling in the Triad this year versus last year, some months show as much as 11 percent more home sales.
"We're actually seeing houses that most recently gone under contract at full price. And it's been quite some time since we've seen that,” Mitchell said.
He hopes December's auctions will boast a lot of action.
More information about the Lexington home at 908 Country Club Drive is at Lexingtonluxuryauction.com or 877-705-9361. It is being auctioned December 4th.
More information about the Winston-Salem home at 4400 Bent Tree Farm Road is at Benttreeauction.com or 877-636-7517. It is being auctioned December 5th.