The auctioning of homes has become an increasingly popular marketing option. Instead of being considered an objectionable competitor for real estate brokers, many of those agents now offer that service to homeowners — working with auction companies gives brokers a competitive edge in obtaining listings.

It's not surprising that homeowners spark up to the auctioning concept. In today's generally sluggish home-selling market with a high inventory of available homes, it often takes several months to find a buyer using conventional marketing methods. On the other hand, an auction takes an average of nine to 12 minutes to sell a property.

Real properties sold at live auctions have increased by about 47 percent since 2003, according to the National Auctioneers Association.

"The biggest misconception is that auction companies are our competition," said Realtor Tracey Clay in an article from Realtor Magazine Online. "That's simply not true. Auctions give practitioners an edge over competitors and put an alternative sales technique on the table for home sellers. But auctions should be used with the right property and right sellers."

Unique, high-valued residential properties with large equities (at least 25 percent of its value) are most appropriate for auctions, according to a report from the National Association of Realtors. Distinctive properties are difficult to appraise, meaning they are a good fit for the auctioning process.

Vacant properties serve as good prospects for the auctioneer. The longer they remain on the market, the more vulnerable they become to vandalism.

As for the seller, he probably needs immediate cash. Perhaps he or she is moving out of state, or needs to liquidate promptly for retirement. He or she may have already purchased another house and knows an auction will quickly generate needed funds; the seller probably has high carrying costs on the currently owned property.

In addition to individual homes, auctioning of residential units by builders is becoming more common — it reduces their over-loaded inventory and generates quick cash for developing other properties.

When deciding whether your property is fit for auctioning, you might consider the "two-thirds role" suggested by NAR. This involves analysis of the market, property and seller situation. If two of the three parts (market, seller, property) lean toward auction, then it's an option that should be seriously considered and discussed with your Realtor.

Q: How will the presidential election impact the housing market?

A: The housing market will improve when the new president takes office next January. That's the opinion of 44 percent of the U.S. population, which was revealed in a recent survey by the research firm of Harris Interactive, a project commissioned by Move Inc.

The survey indicates a strong underlying demand for homeownership, according to Harris. Nearly half (41 percent) of current homeowners plan to purchase a home again, while 80 percent of renters intend to buy a home at some point in the future, with 47 percent planning a purchase within the next five years. More people will do so for space-related (26 percent) and life-stage change (17 percent) reasons, such as having children or downsizing to a smaller residence.

Most home buyers are willing to make substantial sacrifices to save and earn extra income for down payments, and will compromise on features and amenities to acquire an affordable home. Many of their choices may reflect changing values, including a growing concern over the environment, the importance of community features and rising cost of fuel, according to the study on the Move.com website.

About four out of five home buyers say they face barriers to buying a home in the current market. The greatest single barrier is high home prices, a concern that was much higher in the West compared to the South or Midwest.

Q: What does "seasonally adjusted annualized" housing data figures mean?

A: That's a question asked by many consumers. The annual rate of existing home sales has been near the 5 million mark since last September. But the "seasonally adjusted" reports can vary and be confusing.

Lawrence Yun, chief economist for the National Association of Realtors, explained it in simple terms.

"All economic data — the GOP, durable goods orders, employment — is reported on a seasonally adjusted annualized bases," he said. "The reasoning is simple. Economists and policy-makers need to assess trends that are not influenced by normal seasonal fluctuations."

As an example, Yun cited gasoline prices. Over holiday weekends, those prices usually increase as people head for the nation's highways. Therefore, the short-term run-up in gas prices is normal and should not be viewed as inflationary. Those higher prices do not imply a fundamental shift in the direction of the economy; they are normal, meaning the reported data is seasonally adjusted to show no real change. Likewise, home sales data is seasonally adjusted to account for the usual monthly changes.

Economic data is also annualized. That is, if the home sales pace continued at the same rate for the next 12 months, this would be the annual tally. This process is done to help quickly compare monthly data with annual data, Yun noted.

To find out more about Jim Woodard and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website at www.creators.com.