For Sale signs can linger in a bad housing market like the one we're in now. That was the case for a home at 52nd and Dodge but an auctioneer moved the property in minutes on Thursday.
The home carries a nickname for some Dundee neighbors: the pineapple place.
Seller Linda Wilson says, "People were thinking if we wait a little longer, we wait a little longer, we wait a little longer... Well that's difficult because my husband is retiring in a month."
The home had been on the market for nearly five months. Then they turned to auctioneer Richard Purchas, with CBS Home.
Nancy Hedegaarg of Underwood, Iowa said , "You could come away with a good deal."
Purchas says, "There has been a myth in the past that auctions are for distressed homes or distressed people. They're not. It's just a different way to market a house."
The bidding started at $250,000.
"Don't think of the reasons why you shouldn't buy," Purchas said. "Think of the reasons you should."
The home is appraised at $374,000.
Out of the more than 100 who came out Thursday, three couples bid. The winning bid was $308,000, from owners who currently live just a few houses away.
It took about 20 minutes for Brian and Teri Williams to buy their dream home.
Brian says, "If you'd try to build a house like this in west Omaha, this is a million dollar house in west Omaha."
While they acquired their "million dollar home" appraised at $374,000 with a bid of $308,000 -- it was for sale a month ago priced at $280,000.
Brian and Teri will close on the home in August but now they need to sell their current Dundee home. So far they say they are not leaning toward an auction.
The sellers did have a safety valve on Thursday. If a certain price had not be reached in the bidding, the house would still be for sale.
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