Here's the press release about our April 12 auction of properties along the Emerald Coast on the Florida panhandle. It was a great auction -- not only because our team did an excellent job promoting and managing it, but because we once again saw the growing sense of optimism among real estate investors who realize that this is the time to build their portfolios for the next "up" cycle in the economy.
Nobody can time the real estate market with any precision. The best we can do is invest when prices are low. That protects us on the downside while enabling us to achieve a higher return on our money. The investors -- and there were were a lot of them! -- who were bidding at our auction last week are going to earn some excellent returns down the road.
Tallahassee, Fla. (April 13, 2012) -- A standing-room-only crowd jammed the room Thursday as bidders competed for condominiums, commercial properties, residential home sites and other real estate.
"It's clear that smart real estate investors are looking ahead and getting themselves positioned for an improving economic climate," said John Dixon, president of John Dixon & Associates, which conducted the auction for Arkansas-based Centennial Bank. "Our seller was quite pleased with the number of bidders, the level of bidding and the outcome."In addition to well over 200 people who attended the event live, another 150 participated via a live simulcast. By the end of the auction, all of the properties had sold for a total of $2.5 million.
"Among bankers, real estate investors and others, I'm hearing a lot of improving confidence. I wouldn't go so far as to call it optimism, but at least it's a sense that we've bottomed out and it's a good time to obtain investment properties while they're still available at much lower prices than they were a few years ago. Buying at today's prices will translate into better returns on investment and more long-term appreciation potential down the road when the crowd discovers the benefits of real estate investing again," said Dixon.
Most of the properties sold were clustered near the coast from Panama City Beach to Carabelle. Among them were two condominiums in the Preserve at Bay’s Edge in Appalachicola. Upcoming John Dixon sales include 13 commercial buildings located in Alabama, Florida, Georgia, Virginia and Pennsylvania on May 1-3; bank-owned properties in Tennessee on May 17, and bank-owned properties in metro Atlanta May 23-24. Individuals seeking additional information may visit johndixon.com or contact the auction company at 800-479-1763.