TALLAHASSEE, FL--(Marketwire - Apr 13, 2012) - A standing-room-only crowd jammed the room Thursday as bidders competed for condominiums, commercial properties, residential home sites and other real estate.
"It's clear that smart real estate investors are looking ahead and getting themselves positioned for an improving economic climate," said John Dixon, president of John Dixon & Associates, which conducted the auction for Arkansas-based Centennial Bank. "Our seller was quite pleased with the number of bidders, the level of bidding and the outcome."
In addition to well over 200 people who attended the event live, another 150 participated via a live simulcast. By the end of the auction, all of the properties had sold for a total of $2.5 million.
"Among bankers, real estate investors and others, I'm hearing a lot of improving confidence. I wouldn't go so far as to call it optimism, but at least it's a sense that we've bottomed out and it's a good time to obtain investment properties while they're still available at much lower prices than they were a few years ago. Buying at today's prices will translate into better returns on investment and more long-term appreciation potential down the road when the crowd discovers the benefits of real estate investing again," said Dixon.
Most of the properties sold were clustered near the coast from Panama City Beach to Carabelle. Among them were two condominiums in the Preserve at Bay's Edge in Appalachicola.
Upcoming John Dixon sales include 13 commercial buildings located in Alabama, Florida, Georgia, Virginia and Pennsylvania on May 1-3; bank-owned properties in Tennessee on May 17, and bank-owned properties in metro Atlanta May 23-24. Individuals seeking additional information may visit johndixon.com or contact the auction company at 800-479-1763.
John Dixon, headquartered in Marietta, Ga., is a leading auctioneer specializing in the sale of bank-owned properties throughout the United States. More auction information.