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Upcoming Auctions
- Thread starter Ohio Girl
- Start date
Babyblue
Beach Fanatic
Babyblue
Beach Fanatic
I have bought several properties at auction and I have an interest in a few of the properties Roebuck is selling November 17 at the Watercolor Inn. So I figured I would attend the first part of this auction that was held this past Saturday in Perdido Key. If this auction is any indication of how the November 17 auction is going to be, then there will be a lot of properties sold that day.
Here is my recap of how last Saturday went:
1. The auction started with the gulf front lot in Orange Beach. It was not an absolute auction, but there was more bids than I've seen at many other auctions and there was not the mysterious phone bidder that some of you have witnessed. Although it was not absolute, the owners agreed to sell the lot at around 650K or so, and the final bid was $735K + 10%. I don't know the Orange Beach market as well as this market, but that seemed to be a fair price.
2. The next property sold was a gulf front lot down in the Fort Morgan area of Gulf Shores. It was sold absolute and brought $410K plus the buyer's premium.
3. Then they sold a gulf front home in the Fort Morgan area. It looked very dated and I believe the final bid was around $750K. I don't remember hearing if that was confirmed sold, but I believe it was.
4. The next part of the auction was the 11 condos in River Colony. Only 1 was advertised as absolute, but there were at least 5 or 6 that I know were confirmed sold and I saw several people after the auction trying to make deals for the remaining units.
In summary, over half of the properties that were being sold Saturday were confirmed sold (I waited around to see people signing contracts just to be sure these properties actually sold) and it seemed like the remaining properties had a good chance of being sold.
Here is my recap of how last Saturday went:
1. The auction started with the gulf front lot in Orange Beach. It was not an absolute auction, but there was more bids than I've seen at many other auctions and there was not the mysterious phone bidder that some of you have witnessed. Although it was not absolute, the owners agreed to sell the lot at around 650K or so, and the final bid was $735K + 10%. I don't know the Orange Beach market as well as this market, but that seemed to be a fair price.
2. The next property sold was a gulf front lot down in the Fort Morgan area of Gulf Shores. It was sold absolute and brought $410K plus the buyer's premium.
3. Then they sold a gulf front home in the Fort Morgan area. It looked very dated and I believe the final bid was around $750K. I don't remember hearing if that was confirmed sold, but I believe it was.
4. The next part of the auction was the 11 condos in River Colony. Only 1 was advertised as absolute, but there were at least 5 or 6 that I know were confirmed sold and I saw several people after the auction trying to make deals for the remaining units.
In summary, over half of the properties that were being sold Saturday were confirmed sold (I waited around to see people signing contracts just to be sure these properties actually sold) and it seemed like the remaining properties had a good chance of being sold.
SHELLY
SoWal Insider
Bob
SoWal Insider
Winn Dixie?
