Miami Property Auction was a Success!

flickr photo by cafemama

flickr photo by cafemama

Successful for selling the majority of Miami Dade’s most undesirable foreclosed homes… There were over 300+ homes for auction with the majority selling to end users as a primary residence and possibly 30% as investors snapping up rental properties prior to the market turnaround. Average Miami home selling price may have been $150,000 with hundreds of people gathered for a long day on Sunday. The company hosting the auction is REDC who does an excellent job at creating “the frenzy” needed to sell properties and many which, in my opinion, were at or slightly above market value. What a lucrative business REDC has with 5% a buyer premium added to each auctioned property… In 2008, REDC auctioned over 32,800 US properties!

I went with a friend and customer looking to purchase at Blue Bay Towers of North Bay Village Real Estate. There were only a few other selected potentials as investment condos but each ended up selling for more than we expected.

Blue Bay Towers #1203 (3/2 at 1771 Sq Ft) Asking $299k Sold for $300,000

The Venetia PH-G (1/1 at 800 Sq Ft) Asking $135k Sold for $80,000

King Cole #321 (1/1.5 at 920 Sq Ft) Asking $109k Sold for $95,000

401 Blu #800 (2/2 at 1287 Sq Ft) Asking $302,650 Sold for $210,000

Grand Venetian #2941 (2/2 at 1496 Sq Ft) Asking $269k Sold for $170,000

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About Ashton Coleman

Ashton is a technology & social media savvy professional who understands the industry providing white-glove service with a wealth of experience, an impeccable reputation and a keen ability to efficiently handle all facets of real estate. Ashton’s territory has grown significantly since 2002, marketing & selling extraordinary South Florida coastal real estate from Miami Beach to Lighthouse Point. A Certified Luxury Homes Marketing Specialist (Million Dollar Guild), with a multitude of other residential certifications, Ashton provides both exceptional service and unique selling techniques. His success is attributed to an unparalleled work ethic with years of experience including top-tier professional services where the ‘art of the deal’ is mastered in contract negotiations, deal-making intricacies and the end, results-driven real estate.

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