DENVER, CO--(Marketwire - Apr 8, 2011) - J. P. King Auction Company, the nation's premier real estate auction marketing firm, plans to begin auction season with a focus on luxury homes and ranches in the Rocky Mountain region. Having joined forces with Hoffman-West and Fuller Western in 2009 and late 2010, respectively, the fourth-generation auction company plans to be the preferred accelerated marketing company in the region.
"We're starting to see a rise in activity for premier properties," said Craig King, president and CEO of J. P. King Auction Company. "Since 2007, many affluent real estate owners, understandably, opted to hold their properties until the market improved. Now, we're seeing prices start to level out and are speaking with sellers who are ready to commit to selling their homes and land within a specific timeframe, which an auction provides."
On Tuesday, the Wall Street Journal released an article noting the number of available properties in Vail, Colo., the softened market and its progression into a more balanced real estate market, especially on the luxury side of the market.
"As prices are starting to level out, it's a great time to turn to an auction," said Terry Hoffman, Owner and Managing Partner at Hoffman-West, a broker company for premier real estate in Vail and Beaver Creek. "If you've outgrown a property or aren't using it anymore for whatever reason, an auction is the best way to create a sense of urgency for your buying market and convert that asset into cash."
J. P. King has conducted 60 auctions in Colorado, including Parachute Ranch, which contained over 44,000 acres that sold for $28 million in 2004. A year later, J. P. King also sold former major-league pitcher Mike Hampton's home in Evergreen for over $3 million.
In recent years, J. P. King has sold properties throughout Montana, Wyoming and Colorado for over $150 million. For a limited time, sellers can also receive a one-percent rebate when they sign up for an auction with J. P. King.
For more information, interested individuals can visit www.jpking.com or call 866.406.7989 or email inquiry@jpking.com.
J. P. King Auction Company specializes in high-value properties and portfolios such as luxury homes, developments, condominiums and land and ranches. The company has marketed properties in all 50 states and six countries with recent sales in Texas, Alaska, Virginia, Oregon, Wisconsin, Colorado and Wyoming.
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