SOURCE: Iron Horse Auction

Iron Horse Auction

May 31, 2011 09:33 ET

Homes, Townhomes, Lots Among Properties Included in Auctions of Bank-Owned Real Estate in North Carolina

ROCKINGHAM, NC--(Marketwire - May 31, 2011) - Homes, luxury townhomes, subdivision lots and land will sell in a series of auctions of bank-owned properties to be held in Maggie Valley, Weaverville, Banner Elk and Morganton, with Iron Horse Auction Company managing the sale.

The series of auctions will begin Saturday, June 25, with the sale of a luxury home and separate lot in a gated subdivision in Maggie Valley. Also selling that day will be four homes in Weaverville, 12 home sites in Waynesville, and 38.6 acres of prime farmland on the French Broad River in Brevard.

On Tuesday, June 28, Iron Horse will sell four new luxury townhomes, three townhome lots, a home and 34 lots in the River Mountain subdivision of Banner Elk. "These townhomes were originally listed for $699,000, but they will most likely sell at a substantial discount to the original price," said Tom McInnis, chief operating officer of the auction company. The townhomes feature views of the surrounding mountains and overlook historic Mill Pond.

On Wednesday, the auction team moves on to Morganton for the auction of a new home and 17 lots in the Henry's Glen Subdivision. The two-story home has hardwood flooring, granite kitchen countertops and four bedrooms.

"It's unfortunate that the recession and real estate crisis resulted in so many foreclosures, but this creates an opportunity for individuals and investors who are in a position to step in and take advantage of it," said McInnis. "We expect to see individuals seeking homes for themselves as well as builders who are planning ahead by obtaining sites on which to build future homes when the economy picks up further."

Individuals seeking additional information may contact the auction company at 800-997-2248 or visit

Iron Horse Auction Company, headquartered in Rockingham, N.C., sells real estate, equipment and personal property in North Carolina and surrounding states. More auction information.

Contact Information

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    Carl Carter
    Lindsay Fernandes