ATLANTA, March 7, 2018 /PRNewswire/ -- Demand for homes – and land on which to build new ones – is surging, resulting in strong bidding that led to more than $5 million in sales during a two-day John Dixon & Associates auction featuring properties from throughout the Southeast and beyond.
"The real estate market overall is greatly improved, and bidders were competing vigorously for homes, subdivision lots and land. The inventory of homes on the market has dwindled to low levels, so builders and developers are looking for more land on which to build. That makes this a great time for investors, banks and others to go ahead and sell at auction," said John Dixon, president of the auction company.
The February auction included properties owned by banks, hedge funds, corporations, estates and individuals. The February event featured properties from Georgia, Alabama, North Carolina, South Carolina, Florida, Mississippi, West Virginia, Tennessee and even Indiana. It attracted 65 registered bidders in person and another 130 who watched and bid over the Internet.
Highlights of the two days included a Panama City condominium, which sold for $270,000, and a 7,000-square-foot industrial building in Valdosta, Georgia, which sold for $245,000.
"The residential market has come back really strong, but we saw good bidding in all asset classes, including some unimproved land. This appears to be the market that investors have been waiting for to lock in solid profits on their investment," said Dixon.
Upcoming events include an auction set for April 18-19 on 150 properties in 13 states, including Alabama, Arizona, Florida, Georgia, Illinois, Kentucky, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Texas and Wisconsin. The company also is currently organizing its next multi-seller event. A third major event, in May, will be the auction of bank branches. A major bank has already scheduled the auction of a number of branches, and other financial institutions are invited to sell in that event as well.
Individuals seeking additional information may visit www.johndixon.com or call 800-479-1763.
John Dixon & Associates, based in Marietta, Georgia, also has offices in Tallahassee, Clayton, North Carolina, and Myrtle Beach, South Carolina.
For more information:
Carl Carter, 205-823-3273
SOURCE John Dixon & Associates