SOURCE: John Dixon & Associates

John Dixon & Associates

November 15, 2010 11:55 ET

Thirty-Two Condos Sell in One Day in John Dixon Auctions

MARIETTA, GA--(Marketwire - November 15, 2010) - Thirty-two townhomes in Tennessee and Georgia sold for a total of $2.3 million in two separate John Dixon & Associates auctions on Nov. 11.

The sale included the sale of 22 townhomes in Statesboro's gated Graystone development for $1.716 million. The Statesboro event drew a crowd of more than 100 bidders and a total crowd exceeding 250.

"We had an excellent crowd, which included many individuals seeking these units for their personal use. This was reflected in the final results, with 19 different buyers purchasing units," said John Dixon, president of the auction company. Ten of the units were occupied under current leases.

Earlier in the day, 10 townhomes on Watts Bar Lake in Spring City, Tenn., sold in a court-ordered foreclosure auction. Those units, which were incomplete and had never been occupied, sold as an entirety for $644,150. The Spring Hill sale attracted 16 registered bidders.

"The results on these two sales tell me that the real estate market is coming back to life. When properties are marketed effectively and the sellers are realistic about the current level of prices, property gets sold, and we expect things to continue to improve," said Dixon.

Upcoming auctions include a giant sale of hundreds of bank-owned properties in the greater metro Atlanta area, set for Tuesday, Nov. 30 in Atlanta.

Individuals seeking further information on this or other auctions may contact John Dixon & Associates at 800-479-1763 or visit www.johndixon.com.

John Dixon & Associates, based in Marietta, Ga., with offices in Swainsboro, Ga., and Chattanooga, Tenn., is a leading auctioneer of bank-owned properties throughout the United States. More auction information.

Contact Information

  • For more information:
    Carl Carter
    (205) 378-9290

    Lindsay Fernandes
    (205) 909-3705