Huge Foreclosure Auction Held Throughout Florida in August
Real Estate Disposition Corp. (REDC), one of the country’s largest real estate auction companies, conducted a six-day, eight-city auction series across Florida during the first week in August, which featured 1,500 new foreclosure properties for sale.
So far in 2010, REDC has auctioned 2,550 foreclosures in Florida for a total of $125 million. According to the company, the August auction was one of the largest foreclosure auctions in history. Company officials said that the first four days of the auction generated $31.4 million in sales from events held in Orlando and Miami. The auction also visited Jacksonville, Tampa, Fort Myers, Ocala, Melbourne and Sarasota.
According to an REO Insider article, more than 50 banks, investors and financial institutions have properties included in the Florida auction. These properties included homes that were active listings as well as those selected to go straight to auction following foreclosure repossession.
In a press statement, an REDC spokesman said, “There are amazing properties that will be in these auctions — properties that just became available. They include million-dollar and half-million-dollar mansions and homes that homebuyers will be purchasing for as much as 50-60% less than the properties’ previous high value.”
Are you a Florida homeowner who is currently facing foreclosure? Contact our Jacksonville foreclosure defense law firm for help.
Greg Gilbert
Keith Maynard
