Couple auctioning off riverfront home

Homeowners seeking alternate methods of sale as market recovers

Published On: Mar 29 2013 05:53:21 AM EDT   Updated On: Mar 30 2013 01:07:45 AM EDT
JACKSONVILLE, Fla. -

Though the real estate market is slowly coming back, one couple has not had any luck selling their home, so they're turning to a different method.

A local couple hasn't had any luck selling their home so this weekend they are going to auction it off.

Michaela Miller and Steve Sadler know it's no secret the real estate market has badly struggled in recent years.

At it's lowest point, selling a house seemed nearly impossible.

While things are slowly coming back, more and more people are still turning to alternative ways of selling their homes. For Miller and Sadler, they're turning to an auction group.

Blackstone Auction Group is a local company that specializes in nationwide luxury real estate auctions.

They guarantee getting homes sold within 30 days. As owners of a million dollar LEED certified home on the river, that's why Miller and Sadler chose this route.

Miller and Sadler moved into their home on the St. Johns River in 2006. In 2008, it was destroyed by Tropical Storm Faye.

They chose to rebuild with efficiency and sustainability in mind.

In 2010, they moved back in to their new, LEED platinum certified, 4,000 square foot home.

"This is a category 5 proof home, Miller said. "It's built out of steel and having experienced Tropical Storm Faye and losing an entire home, I didn't want to ever have to do that again."

LEED certified is the highest level of green architecture. It's the only of it's kind in Northeast Florida.

With geothermal heating and cooling and solar water heaters, it's so efficient. Miller said her monthly power bill is usually $100.

But to better suit their now empty nester lifestyle, Miller said she and her husband put the house on the market in January. With little luck and few showings, they decided to auction off their dream home.

"The primary benefit in our minds is the finite period of time that its on the market," Miller said. "Between 30 and 45 days, they assure you that you will get to auction and it will be sold."

Blackstone Auction Group is selling the home to highest bidder Saturday, March 30th.

"Once we start the auction it's a quick process," President and Auctioneer of Blackstone Auction Group Jonathan Young said. "By the time we begin, the house will be sold in about 10 minutes."

Young said many people look into auctioning their homes after they've tried selling it unsuccessfully with a realtor.

"Luxury real estate auctions are becoming more and more common," Young said. "Our company doesn't deal in bank owned properties. These are really just astute sellers that understand that auctions will maximize the selling price on auction day."

The home will be auctioned off Saturday at 2 p.m. Anyone interested in being a bidder has to to pre-register and qualify. To be a registered bidder, $25,000 has to be wire transferred into their attorney's escrow account

For information go to blackstoneauctions.com.