Auction Company Rolls into Atlanta Saturday To Launch Campaign Featuring 550+ New Foreclosures

Friday, July 23, 2010

What will the foreclosed Atlanta area castle once valued at $869,430 sell for at auction on Saturday? Or the7,860 square foot area mansion once valued at $670,000?

Atlanta homebuyers and investors will be bidding on these foreclosed mansions – and other half-million-dollar foreclosures - as REDC, the nation's leading real estate auction company, rolls into Atlanta on Saturday for the first of a huge 4-day, 6-city auction series that features 550+ new foreclosures in Georgia, No. Carolina, So. Carolina, Alabama, Mississippi, and Tennessee. Media is welcome. The auction is 9:30 a.m. at Georgia International Convention Center.

The auctions are geared to fuel the local economy and turn houses back into homes. This is the 18th auction REDC has conducted in Georgia and the Southeast this year. The last one was mid-June, when it auctioned 733 foreclosures for $20.8 million. In all, $67 million has been spent on Georgia and Southeast foreclosures this year.

“Interest in foreclosure auctions – live and online – is skyrocketing in Georgia, the Southeast and across the nation,” says REDC CEO Jeff Frieden. Overall this year, REDC has auctioned more than 20,000 properties for nearly $900 million.

Best Atlanta foreclosure deals:
4866 Brownsville Rd Powder Springs, GA 30127 – 7860 sq ft 13 room mansion previously valued at $670,000; starting auction bid $159,000;
92 Chestnut Ridge Dr Dahlonega, GA 30533 - 5553 square foot 12-room mansion previously valued at $869,430; starting auction bid $119,000;
3193 Eagle Watch Dr Woodstock, GA 30189-- 6916 sq ft 12 room mansion previously valued at $470,000; starting auction bid $159,000;

“The auctions will fuel the economy in Georgia, No. Carolina, So. Carolina, Mississippi and Tennessee,” says Mr. Frieden. “When a house sits vacant, no one is paying a mortgage, property taxes, nor gas, electric and water bills - all of which hurts the local and national economy. But when REDC put a family into a home, they're paying a mortgage, property taxes, gas, electric and water bills, and they're creating jobs by hiring landscapers, painters and electricians - all of which fuels the economy."

Here is the complete Southeast auction schedule:
July 24, Georgia International Convention Center, 9:30 a.m.
July 25, Charlotte Convention Center, 9:30 a.m.
July 26, Raleigh's Holiday Inn Brownstone, 6:30 p.m.
July 26, Knoxville Convention Center, 6:30 pm.
July 27, Hyatt Regency Savannah (GA), 6:30 p.m.
July 27, Renaissiance Nashville, 6:30 p.m.


Real Estate Transfers For Nov. 18-24

Robert Backer: October Local Housing Market Statistics

Chattanooga's Million Dollar Homes


NOTICE: The Hamilton County Register’s Office did not publish this data. All information in the Register’s Office is public information as set out in T.C.A. 10-7-503. For questions regarding ... (click for more)

As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates, and a slight uptick in new listings in recent months, according to the National ... (click for more)

Chattanooga's Million Dollar homes, reflected in recent transactions, include: 8069 Jonathan Drive 5 bedrooms, 6 baths, 7,324 square feet on 1.0 acre lot. The sale was to Vpi Taft Hwy ... (click for more)



Real Estate

Real Estate Transfers For Nov. 18-24

NOTICE: The Hamilton County Register’s Office did not publish this data. All information in the Register’s Office is public information as set out in T.C.A. 10-7-503. For questions regarding this report, please call Chattanoogan.com at 423 266-2325. GI numbers, listed when street addresses are not available, refer to the location of transactions (book number and page number) in ... (click for more)

Robert Backer: October Local Housing Market Statistics

As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates, and a slight uptick in new listings in recent months, according to the National Association of Realtors. With interest rates inching upward, and experts expecting further rate increases on the horizon, motivated buyers are hoping to lock in their home purchases to take ... (click for more)

Breaking News

Bradley County Sheriff's Office Seeking Man Who Pointed Gun During Road Rage Incident

The Bradley County Sheriff's Office is attempting to locate a white male who pointed a gun at another driver during a road rage incident on Nov. 18. Authorities said, "At approximately 2:15 p.m., the Bradley County Sheriff’s Office responded to a road rage incident on Harrison Pike/I-75 overpass where a white male driving a blue/purple Kia pointed a handgun at a black Toyota ... (click for more)

Mobile Home Destroyed By Fire And 3 Cats Perish In Sale Creek Sunday Morning

A mobile home in Sale Creek is destroyed by fire Sunday morning. At 11:28 a.m., a neighbor called 911 reporting heavy smoke coming from a mobile home. The Sale Creek Volunteer Fire Department responded to 385 Border Loop and arrived on the scene reporting heavy smoke coming from the eaves of the mobile home. One team of firefighters entered the home, conducted an initial search ... (click for more)

Opinion

End The UTC Sports Nightmare - And Response (2)

UT Chattanooga’s loss today to the College of Charleston was embarrassing. I believe Coach Paris has done great things since he has been there, and hopefully today's loss will wake them up. But no losses could wake up the football team that should have been 9 and 2. The women’s basketball team, I know they have several good players out, but the trend since the loss of Coach Foster ... (click for more)

Roy Exum: Georgia Picked By 6½

So help me, I can hear the legendary Bear Bryant telling his players: “Bingo, we got Georgia right where we want ‘em, They are cocky, fat and sassy … all we got to do is keep our wits about us and do the things we know we can do. I know we can do it. Now, let’s get ready to play Georgia the game of their lives …” The trouble is Coach Bryant died almost 40 years ago and this week, ... (click for more)