“Administrative Enforcement Agency, Ministry of Ministry Started a New Auction Battle for Housing Against the Downturn of Housing Economy and the Bearish Market.” It is the first time in history that several officers of Administrative Enforcement Agency acted as agents and released a list of upcoming open houses (public housing units on Chuantou Road in Donggang, Pingtung) on November 16, 2016. It was impressive that the seized houses were commonly affixed with the official seals from Administrative Enforcement Agency. Surprisingly, these officers scheduled several open house events to welcome possible buyers interested in buying these houses. In the future, it is feasible that all the citizens may purchase the same level of the houses with prices lower than the real-time logged-in price in the same region. In other words, it is surely safer for citizens buying houses certified by Administrative Enforcement Agency, Ministry of Justice.

In detail, this national housing unit was seized by Pingtung Branch, Administrative Enforcement Agency few days ago. No residents lived in this 22-year-old penthouse, located on Provincial Highway 17, for more than 10 years. The indoor area and its balcony are around 115.85 square feet (148.95 square feet including the public area). From the inside of the apartment, we can overlook Dapeng Bay and Pengwan crossing bridge tunnel with great living quality and traffic locations. It would only take five minutes to reach the school, police office, and the downtown area of Donggang with a very short distance less than 5 kilometers to Formosa Freeway No. 3. The final closing price for this wonderful unit was less than 157 million. This price is apparently lower than the real-time local price comparing to ones at the same level in the same region.

“It is the first time that we offer open house services,” said Director Chang. He revealed that it was generally difficult to have field visits to the houses which buyers are looking for. Thus, it is reasonable and scary to buyers when they do not have opportunities to take a look of the houses and discuss the details with the agents in person. Director Chang decided to make the auction more transparent and public; therefore, scheduling open house field visits is necessary to potential buyers in terms of taking a look of the actual conditions of the houses they are buying. By doing so, public confidence will be enhanced.

What is the reason for choosing this particular national housing unit for the auction? Director Chang explained that a bank foreclosure property is very different from any other dwelling units. Only enforcement officers are permitted to enter these buildings but regular agents are not. Additionally, national housing units are usually empty and available to arrange open house events for the public. The creditors are usually the government itself. Hence, it is certainly easier to process the auction without having complicated arguments. However, currently, only “empty” houses will be listed for auctions from Administrative Enforcement Agency, Ministry of Justice.

A housing agent mentioned that the current closing prices from the auctions are already lower than the average market prices. “Houses from the auctions will be sold easily before the reduction procedure of the auction,” said by the housing agent optimistically. This agent supposed that arranging and scheduling open house visits will help the auctions. However, the agent warned that foreclosure properties are generally from local courts with private financial problems and occupants. In other words, it is easier to have arguments when checking the house and finalizing the trading procedures. That could be a major problem worried by buyers. Open house events will surely help enhance the popularity of the sale.

The first open house event attracted a massive number of residents to participate as expected. Interestingly, many of them filled out their contact information right away. Another interesting thing is that the neighbors felt that they became “potential sellers” due to seeing the large number of visitors.