Two Day Auction to Sell 300 Properties in Georgia

May 15, 2012 / Russell Legato, Residential Property Analyst

In Atlanta, Georgia there will be an auction of about 300 properties. The residential property values will be low on these bank-owned properties. They will be sold without minimum or reserve bidding. The auction will take place on May 23 and 24 and be conducted by John Dixon & Associates.

Two Day Auction to Sell 300 Properties in Georgia

Assets of several property owners and lending institutions are going to be sold. Auction-goers can expect a wide array of properties, both residential and commercial, to be offered. Included will be office buildings, single family homes, duplexes and apartments. There will be some industrial buildings and empty lots. There will be vacation home plots and some appropriate for golf courses.

On Wednesday, May 23, North Georgia properties will be offered. One home site is on Lake Lanier that has a private boat ramp. Agricultural land will be included too.

Thursday will bring forth a six-unit office building, more lots and an auto repair building. There are properties going up for auction in North Carolina and Alabama. Lakefront lots are expected to be in demand. One is located in Alabama’s Wilcox County.

The economic situation is improving and soon more new construction projects will be started. The supply of foreclosed homes will diminish and the real estate market will make a long, gradual climb back. No one is sure of how long it may take. Taking foreclosures off the market is a big step forward. New residential property values will propel the real estate market and the day of these exceptionally low sale prices will taper off.

Those investors who can afford to buy one or more properties will make a profit if they can hold on to them for five years. Those who want that one special property to make a home in will find an optimal opportunity to find it at this two day auction, if he wants to make his home in Georgia or Alabama. Selling prices will be low.

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