In an effort to turn around the depressing attitude of many realtors across the country because of the market we are in, some local North Carolina real estate publications are trying to put a positive spin on the market by stating that 2009 will be good year and that preparation needs to be made now to take advantage of the 2009 "turnaround."

Yet, several of the major on-line networks reported this morning that foreclosures doubled during the first half of this year and that 2009 doesn't look any better.

As a North Carolina auctioneer, I have tried and tried to approach lenders in North Carolina to let us auction some of their REO properties. With very few exceptions, the answer has been a resounding no.

Reality has not set in with many of these lenders and banks. Surely they understand that these "non-income producing assets", as they call them, will affect their book value. If they get too many, the Feds will step in.

The BPO agent (Brokers Price Opinion) seems to hold the key to the lender's decision. In hopes of "getting a listing", what we in the auctioneering business call the "list and wait" method of selling, the BPO agent gives a range of unrealistic values to the lender/bank.

Why pull comps that are three to six months old or older, to determine a range of values, when we are in a declining market? Hello! The home sits on the market for many months, some over a year. The home deteriorates, some are broken in, not to mention the holding cost and the loss value of money while it sits.

An auction determines "market value." When you have a group of people in a room bidding on a home, when the bidding stops, market value is established, viz., what a  buyer is willing to pay for the home.

"Market value" is not what sold next door three months ago or three streets over six months ago but what someone is willing to pay today.

For more information on auctions, go to my website at www.canSellnow.com.