Retail space, bank branches make strong showing in auctions
ATLANTA, Georgia (November 15, 2019) -- Two successful auctions within a five-day period point to strengthening markets for commercial and residential real estate, according to John Dixon, president of John Dixon & Associates.
Nine closed bank branches in five states sold for more than $1.8 million, and a few days later, dozens of residential and commercial properties in Georgia, South Carolina, North Carolina, Florida and Costa Rica sold for approximately $3.3 million, for a total of approximately $5.1 million.
“There are several takeaways from these two auctions, and they’re all good for real estate owners and investors,” said John Dixon, president of the Atlanta-based auction company. “One is that there is a good market for bank branches, which is important in a period during which many banks are consolidating locations. It’s important to remember that good bank branches are suitable for a wide range of businesses, including offices and retail. In fact, of the nine that we sold, only two were purchased by financial institutions.”
Another high point came in the multi-seller auction on November 12, when a Columbia, S.C. retail center -- with 11 non-condo retail units, four of which were leased -- sold for approximately $1.1 million.
“Bidders were enthusiastic across the board, even for land and home sites, reflecting the continued strength in the economy and the availability of financing at historically low interest rates,” said Dixon.
Dixon notes that the company has been able to offer properties throughout the United States and beyond because of its auction method that combines live bidding with simulcast Internet bidding.
“On that shopping center, we had bidders from California, Florida and Virginia actively bidding. This opens the process to a much wider range of bidders and enables us to sell without the usual geographic limitations,” said Dixon.
WINSTON-SALEM, North Carolina (May 1, 2019) -- In 1884 and 1885, two majestic homes were built side by side on what is now South Cherry Street in Winston-Salem’s central business district. Today, both of those homes are designated as historic properties and will sell to the highest bidder in an upcoming auction, with John Dixon & Associates conducting the event.
In recent years, both homes have been renovated and are zoned for commercial use, according to John Dixon, president of the auction company. “The craftsmanship in both is exquisite, and with their location, they’re both ideally located for use as law offices or similar use,” said Dixon. The auction will begin at 6 p.m. Thursday, May 23, at the property.
Both homes are included on the National Register of Historic Places.
The auction of the homes will follow the company’s auction of approximately 100 properties a day earlier in Atlanta. That auction, which will begin at 2 p.m. Wednesday, May 22, will feature real estate in 57 groupings spread over seven states – Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia.
One highlight of the May 22 auction will be an 8.7-acre equestrian center in Alpharetta (City of Milton), in North Fulton County. “This is a beautiful property, which bidders may wish to consider not only as a horse property but also as a development opportunity,” said Dixon.
Also selling May 22 will be 8.7 acres of pad ready retail land on Epps Bridge Parkway in Athens and 3.37 acres of commercial land in Canton, in Georgia’s Cherokee County.
Individuals seeking additional information may visit johndixon.com or call 770-425-1141. John Dixon & Associates, headquartered in Marietta, Georgia, conducts real estate auctions for financial institutions, investment funds and individuals throughout the United States.
Mr. Joe Tarpley just celebrated 55 years of selling real estate at auction. He helped to establish the Georgia Auctioneers Association in 1977 and has been a continued supporter of our group. Joe was inducted into the GAA Hall of Fame in 1988 and awarded by the National Auctioneers Hall of Fame in 1988. Please join us in this walk down memory lane from Joe’s early beginnings at J.L Todd Auction Company to his current position as Associate Broker, Auctioneer & Business Development with John Dixon & Associates, located in Marietta, GA.
55 Years of Auctions – JOE TARPLEY PHOTO GALLERY:
Joe 1966 at J.L. Todd Auction Co.
1977 Farm Auction
2011 NAA Charity Auction
1999 NAA Hall of Fame Award
1988 Auctioning Commercial Property
“Mr. Joe” 2019
ATLANTA, Georgia (Feb. 28, 2019) -- Six commercial out-parcels around a Lowe’s store in Fredericksburg, Virginia, sold for $792,000 in John Dixon & Associates’ February Multi-Seller auction of properties being sold by banks, hedge funds and investors of all sizes.
“We got a great response on the out-parcels, and the seller was pleased. In all, we sold 70 offerings for a total of $2.85 million,” said John Dixon, president of the auction company.
The auction attracted approximately 40 bidders for the two days of live bidding in Atlanta. More than 50 others watched the streamed event and bid via the Internet.
“We literally had real estate from Virginia to South Florida, and from Texas to Georgia, so there were a lot of people who were bidding on properties near them. This gives us the best of live and Internet bidding, allowing us to greatly expand our range,” said Dixon.
Sales also included two former school facilities in West Orange, Texas; canal front residential lots in Cape Coral, Florida; and 45 home sites in McCormick, South Carolina.
“One thing that jumped out was the increase in demand for quality subdivision lots, which had been slow to bounce back. It looks like the builders have about built out their supply of home sites and are back looking for more across the board. We had three home sites in Alpharetta that averaged about $83,500 each, and also got some nice prices on lots in Douglasville subdivisions,” said Dixon.
John Dixon & Associates, headquartered in Marietta, Georgia, is already lining up properties for its next multi-seller auction in the spring. Individuals, financial institutions, investment funds and others seeking additional information on selling may visit johndixon.com or call 770-425-1141
ATLANTA, Georgia -- A suite of medical offices near Savannah, an oceanview condominium in Daytona, and other real estate will be among more than 268 properties in nine states selling in two days of auctions, with John Dixon & Associates conducting the event. The properties will be grouped into 80 offerings.
The live auctions will be held Nov. 14-15 at the Mansour Conference Center, 995 Roswell Street, Marietta, with sessions beginning at 2 p.m. each day. The bidding will be streamed, and bidders from anywhere will be able to participate just as if they were in the room.
“Remote bidding will be especially important on this auction, because we have properties in nine different states – Florida, Georgia, Kentucky, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia,” said John Dixon, president of the auction company. “If someone in Pennsylvania is bidding on a property near them, there’s really no reason to make them come to Atlanta for the auction. This is more efficient for everybody,” he said.
The auction is part of the company’s Multi-Seller series, which allows banks, investors, and individuals to participate whether they have a lot of properties or just one or two.
OCEAN SPRINGS (August 9, 2018) -- Chateau LeJeune, a majestic 6,000-square-foot luxury home on Old Fort Bayou, will sell at auction Sunday, September 9, with John Dixon & Associates conducting the auction.
The home on 4.42 acres in the elite Maurepas Landing waterfront community, has such touches as a 250-foot pier with a boat lift, custom library with a ladder for high shelves, a full-service bar, and one-inch-thick custom imported granite floors.
“It’s really hard to overstate the level of luxury and craftsmanship in this home, which I believe is one of the most remarkable on the Mississippi coast,” said John Dixon, president of the auction company.
“Given the unique nature of Chateau LeJeune, the buyer could come from down the street or across the country, so we are marketing the home aggressively throughout the Southeast and even across the United States. Bidders will gather on September 9 to compete for the home,” said Dixon.
Other features of the home include a steel support structure, five fireplaces, an elevator with four levels, a gourmet kitchen with four under-counter refrigerator doors and two under-counter freezer drawers. In addition to the 6,000 square feet of indoor living areas, the home has 2,000 square feet of covered porches and balconies, and 2,500 square feet of garage and storage areas.
The home at 707 Rue Rivage, Ocean Springs, was built in 2008. Open houses will be from 3 to 6 p.m. on August 26 and September 8. The home will be open for inspections at 1 p.m. on the auction day, September 9, two hours before the bidding starts.
Individual tours may be set up by contacting Billie Myrick, Moran Realty Company, 228-990-5706 or 228-875-5465. Individuals seeking additional information may visit www.johndixon.com or call 800-479-1763.
ATLANTA – Commercial buildings, homes, land and other types of real estate will be among 226 properties from 12 states being sold at auction August 21 and 23. John Dixon & Associates will conduct the auctions, in which the properties will be grouped into 92 offerings.
The auction will include real estate in Alabama, Florida, Georgia, Illinois, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia.
One highlight on August 21 will be the auction of a medical office building in Garden City, Georgia, in Chatham County. “Three of the four units in this building are occupied, so it should be a great investment for a perceptive bidder,” said John Dixon, president of the auction company.
Also selling on August 21 will be a commercial office building in Valdosta and 165 acres of land in Byhalia, Mississippi. “This is a lot of land and is only a half hour south of Memphis, so I expect considerable interest in that,” said Dixon.
The auction on Thursday, August 24, will include three commercial buildings at 1768 Veterans Memorial Highway in Austell, in Cobb County, as well as 96 partially developed townhome lots on Nottingham Woods Boulevard in Palmetto, in Fulton County.
“We also have some nice properties outside the area, including a commercial-retail/office building in Murphysboro, Illinois, and a commercial building in Clinton, North Carolina,” said Dixon.
Both events will be held at the Mansour Conference Center, 995 Roswell Street, Marietta, Georgia. The event on Tuesday, Aug. 21, will include 47 offerings, and the one on Thursday, Aug. 23, will include 45 offerings. Individuals interested in additional information may visit www.johndixon.com or call 770-425-1141.
John Dixon & Associates, based in Marietta, Georgia, also has offices in Tallahassee, Florida; Clayton, North Carolina, and Myrtle Beach, South Carolina.
Eighteen bank branches will sell at auction on May 31 and will include one former BB&T branch in the Triad and three others across North Carolina
John Dixon and Associates will conduct the auction at the Marriott in Winston-Salem. The former BB&T and BancorpSouth branches up for auction are located across seven states: North Carolina, Virginia, Pennsylvania, Arkansas, Tennessee, Mississippi and South Carolina.
BB&T CEO Kelly King had announced in September that the bank would be shuttering 140 locations nationally, an increase from the 100 that it had indicated only a few months earlier in April. That represented about 6 percent of its locations, with King explaining that, ""For the last 10, 15 years, we’ve been kind of handicapped, because we’ve been having to deal (with) the digital system, while at the same time we’ve been having to carry along the traditional brick-and-mortar systems without much opportunity to rationalize the cost on the traditional system. That is changing very quickly now."
Twelve of the branches being auctioned, including the four in North Carolina, will sell absolute, with no reserve, meaning the highest bid will not have to surpass a minimum threshold to be sold.
One of the former BB&T branches is located in Denton, in Davidson County, at 94 N. Main St.
According to Davidson County tax records, the 2,304-square-foot building is valued at $301,340 and the land is valued at $20,250, representing a total market value of $321,990.
A list of the three other BB&T branch locations in North Carolina with tax record data:
"The Wall Street Journal recently reported that banks are closing branches at the fastest rate in decades due to customers' increased use of smartphone apps, websites and ATMs. This auction, which includes branches offered by two large regional banks, allows them to get these empty buildings off their books, while providing quality locations for other banks, credit unions and other businesses," said John Dixon, president of the auction company.
WINSTON-SALEM, North Carolina (May 14, 2018) -- Nineteen bank branches in seven different states will sell at auction Tuesday, May 31, with John Dixon & Associates conducting the auction. Thirteen of the branches will sell absolute, with no reserve.
The auction will include five branches in North Carolina, five branches in Virginia, three in Pennsylvania and two in Arkansas. Other branches are located in Tennessee, Mississippi, and South Carolina. Among the North Carolina properties are branches in Hickory, Denton, Maggie Valley, Broadway and Coats.
“The Wall Street Journal recently reported that banks are closing branches at the fastest rate in decades due to customers’ increased use of smartphone apps, websites and ATMs. This auction, which includes branches offered by two large regional banks, allows them to get these empty buildings off their books, while providing quality locations for other banks, credit unions and other businesses,” said John Dixon, president of the auction company.
“Most of these are quality buildings in locations with good traffic. Even as the big banks close branches, many other businesses are growing and in need of quality space. Of course, most of these buildings can be adapted for a wide range of uses, including office space, retail and even food service. Some buyers will probably get some great deals on these, because most are selling with no reserve. Getting these branches sold will open the way for new businesses and help the local economies,” said Dixon.
ATLANTA, Georgia (May 1, 2018) -- More than 300 properties across the Southeast and beyond are set for auction May 15-16, with John Dixon & Associates conducting the event. The real estate is grouped into 87 offerings, including residential and commercial land, waterfront home sites, homes, and commercial buildings.
The auction will begin at 2 p.m. each of the two days, with live bidding at the Mansour Conference Center in Marietta and remote bidding via Internet by prior arrangement. Remote bidders will be able to see and hear the bidding and converse with a bid assistant, competing in real time with on-site bidders.
Included in the auction are properties in Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, and West Virginia.
“This is one of our Multi-Seller auctions, so we have a number of different sellers – investment funds, financial institutions, individual investors and individuals – offering real estate during these two days. Most folks will want to focus on the properties in areas where they live or run a business, and they can either come to Atlanta or bid remotely. But we do emphasize that people need to look at any property on which they plan to bid,” said John Dixon, president of the auction company.
The auction included the 22,000-square-foot conference center, the 80-room lodge, the 5,000-square-foot lakefront restaurant, the pool, two tennis courts, an 18-hole miniature golf course and approximately 514 acres of land.
Bidding opened first on the conference center, lodge, restaurant, pool, tennis courts, miniature golf course and other structures, bringing $1.65 million. The land was offered in 10 parcels, then bidders were allowed to bid on all of the land together, resulting in a price of another $919,600.
"I really think the location was a key to the success of the auction," said John Dixon, president of the auction company. "The facilities sold with all of the contents, but after several years of being closed, the new owner will no doubt be investing in some updates."
The auction, held at the Hickory Knob State Park, drew a live crowd of at least 150, including 42 registered bidders. Another nine registered bidders participated online.
The company's next major event will be the auction of more than 150 properties in 60 offerings in 11 states for a major financial services company. Individuals seeking details on that and other events 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.
The auction will include the 22,000-square-foot conference center, the 80-room lodge, the 5,000-square-foot lakefront restaurant, the pool, two tennis courts, an 18-hole miniature golf course and approximately 514 acres of land.
“The conference center and lodge have been closed for a few years, but they can be updated so that the resort can once again become a popular destination for vacationers. All of the land will sell absolute, with no minimum or reserve. As we see our economy growing stronger by the day, this is a great time for someone to obtain a resort and land that could become a very profitable vacation destination,” said John Dixon, president of the auction company.
The conference center, lodge, restaurant, pool, tennis courts, miniature golf course and other structures will sell as an entirety. “The buildings are furnished, right down to the guest rooms, and there’s some nice furniture in there,” said Dixon.
The 514 acres of land will sell in 10 tracts, ranging from two acres to 214 acres. The land fronts on paved roads and has sewer and water service, as well as underground utilities, including fiber optic cable in front of all the tracts.
The auction will begin at 11 a.m. Wednesday, April 4, at Hickory Knob State Park, 1591 Resort Drive, McCormick, South Carolina, 29835.
Auction personnel will be available at the conference center to accommodate inspections and provide detailed information on March 28-29 and April 3-4. Individuals seeking times and information about the land and facilities may visit www.johndixon.com or call 800-479-1763.
“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.
ATLANTA -- With banks closing branches nationwide, John Dixon & Associates has announced that the company will conduct quarterly auctions to help banks, credit unions and other financial institutions liquidate facilities that have been closed.
The company made the announcement upon the successful auction of 14 bank branches and six commercial tracts in Alabama, Florida, Georgia, North Carolina, Pennsylvania and Virginia. The auction attracted vigorous bidding, resulting in the sale of all the properties for a total of $3.3 million.
“We’ve sold hundreds of bank branches all over the country over the years, but given the current rate at which bank branches are closing, as well as unimproved sites that were never developed, we decided to have a program geared specifically to that marketplace,” said John Dixon.
The company’s quarterly bank branch auctions will resemble its successful “Multi-Seller” auctions, which have combined offerings from banks, investors, investment funds and individuals.
“These have allowed different sellers to put as few as one or two properties in an auction and share the marketing costs with others who are selling in the same event. Our quarterly bank branch auctions will operate on the same concept. Many financial institutions have branches or related properties for sale for various reasons. Regardless if they have a single asset or many, we now have a program to sell branches throughout the United States in a single auction platform,” said Dixon.
He said the number of branches being offered in the near future will be higher due to the trend toward more online and remote banking, increased use and sophistication of ATMs and other market factors. Some banks also are closing older branches to open sleeker, more modern local offices in higher traffic areas, he said.
“When you can deposit a check remotely by taking a picture of it with your phone, there’s less need for a bank down the street,” he said.
ATLANTA, Georgia -- Live and online bidders eager to buy real estate turned out in force and competed eagerly for hundreds of properties recently in a set of auctions that may mark a turning point in real estate auctions, according to John Dixon, president of John Dixon & Associates.
The Atlanta company’s most recent series of auctions topped $8.9 million in a multi-day event that featured hundreds of properties from 48 different sellers, with everything from subdivision lots to office buildings. The auctioneers sold real estate in Florida, Georgia, Alabama, Tennessee, North Carolina, South Carolina and Maryland.
The company saw a pickup in demand even on property types that have been challenging to sell in recent years. “For a long time after the crash, there was an oversupply of subdivision lots. But it appears that demand has finally caught up, and as a result you were seeing stronger prices. If that continues, people who have owned these properties for several years may finally decide it’s a good time to let them go,” said Dixon.
The auctions included events in Jacksonville, Florida as well as metro Atlanta. Each event featured live bidding, with bidders taking part both live and online.
“We saw more people wanting to be there in person, but about half the offerings also went to online bidders,” he said. Even as timed online auctions -- with no live bidding -- have grown more popular with many of his colleagues, Dixon believes the live-simulcast format generates more excitement and better results.
“We’ve done online-only auctions, and had some good results. There are situations in which those are a good choice, and we’ll use them sometimes. But it’s hard to argue with the results we’re seeing with our live-simulcast format now,” said Dixon.
The company is currently planning its next series of multi-seller auctions. Institutions, investment firms, individuals and others may visit www.johndixon.com or call 770-425-1141 for more information on including properties in those.
John Dixon & Associates, based in Atlanta with offices in Florida, North Carolina and South Carolina, is one of the nation's largest auctioneers of real estate.
ATLANTA, Georgia -- Atlanta-based John Dixon & Associates is forging a new path to enable more banks and other institutions -- as well as individuals -- to sell real estate at simulcast auction (live and online combined bidding).
“We analyzed the whole auction marketplace and found that real estate owners of all types and sizes needed a more efficient and cost-effective way to sell in live auctions. Our enhanced Multi-Seller program provides the excitement of a live auction and the broader reach of online bidding,” said President John Dixon.
The demand for such an approach is reflected in the company’s upcoming auction, set for May 22 in Jacksonville, Florida, and May 24 in Atlanta. Sellers include several banks, six major Real Estate Investment Trusts, and about 30 individuals, according to Dixon.
“We’re getting a big response because you can’t beat the excitement of live bidders in a room, along with online bidders who are bidding right along with them during the auction. We’ve made that approach easier and more cost-effective, and it’s paying off for everybody. More sellers can use the live auction method, and bidders have more to choose from,” he said.
The upcoming sessions will feature some 560 properties in 165 groupings, offered by 48 different sellers.
“The states with the most offerings this time around are Florida and Georgia, with others in Alabama, Tennessee, North Carolina, South Carolina and Maryland. And because we’re doing several of these a year, sellers are able to sell properties all during the year based on their needs. I don’t know of any auction company in the country who is offering this kind of service to sellers on a regular basis,” said Dixon.
Details on all of the properties and groupings are available online at www.johndixon.com, and bidders and sellers alike may get more information by calling 404-609-1150. The next quarterly auction is scheduled for August 15-17.
SAN JUAN, Puerto Rico (April 25, 2017) -- A convention center, medical office buildings and condominiums, office buildings, retail space and other properties will be among more than 30 offerings in an upcoming auction of real estate in Puerto Rico. John Dixon & Associates will conduct the auction, set for Thursday, May 11, in cooperation with Christiansen Commercial Real Estate.
“This will be a remarkable opportunity for investors, or for those seeking a location for a new or existing business. Quite a few of these commercial properties have been used as medical offices and facilities and are suitable for general office space, retail space, and other purposes as well,” said Drew Dixon, of the auction company.
“Some of these are currently producing income, and many are quality buildings in highly desirable areas of San Juan, Manati, Carolina and other cities, especially along the northern coast,” he said.
Individual offerings include several attractive properties in Manati, including a commercial condominium in a medical plaza, a three-level commercial building with 19 parking stalls, and a commercial building formerly used as a surgical clinic. The largest concentration of offerings is San Juan, including commercial condominiums, commercial buildings, a home, and a mixed use building. Other properties offered include a convention center in Moca and a medical office condominium in Caguas.
The auction will begin at 2 p.m. Thursday, May 11, at the Condado Plaza Hilton, 999 Ashford Avenue, San Juan. The event will be streamed live, with online bidding available by prior arrangement. Individuals seeking more information may call 800-479-1763 or visit www.johndixon.com.
“We really have some great properties, including these five commercial condominiums in Lancaster -- all selling absolute -- in a beautiful building with ample parking, key card access, and shared conference rooms,” said Drew Dixon, who is coordinating the auction.
Other properties slated for sale include office buildings in West Virginia and New Jersey, as well as vacant, multi-family and mixed-use land, he said.
“This will be a great opportunity for individuals, developers or investors to acquire some properties that can provide income streams and business opportunities,” said Dixon.
The auction will begin at 1 p.m. Thursday, Nov. 10, at 501 Fairgrounds Road, Hatfield, in the facilities of Alderfer’s Auctioneers & Appraisers. The auction will be simulcast, with Internet bidding available by prior registration. Individuals seeking additional information may visit www.johndixon.com or call 800-479-1763.
John Dixon & Associates, based in Atlanta with offices in Florida, North Carolina and South Carolina, is one of the nation’s largest auctioneers of real estate properties, including land, residential, commercial and industrial properties.
The Sept. 10 auction will include more than 40 real estate properties in Puerto Rico, including residential, commercial, retail, multi-family and office properties.
The properties are being sold by a United States based equity fund focused on Latin America and the Caribbean.
“There’s never been a better time to buy real estate in Puerto Rico, whether you live on the island or on the mainland, and this auction provides a rare opportunity to acquire some great properties,” said John Dixon, president of the auction company. “We have a lot of high-quality properties that will be of interest to individuals, investors, builders and developers in the United States as well as Puerto Rico.”
Among the properties are medical offices, three restaurants, shopping centers, a 45-room motel, a townhome and tracts of land for development.
The auction will begin at 11 AM eastern time at the Condado Plaza Hilton in San Juan.
“This will be a live auction, streamed in real time on the internet. Online bidders may communicate with auction personnel on the floor of the event and enter their bids at the same time as live bidders,” Dixon said.
Longtime business leader A.B. Rose to sell properties at auction
ROCKY MOUNT, North Carolina (Jan. 27, 2016) -- After a lifetime of living and doing business in North Carolina, A.B. Rose and wife Carol are planning to move to Arizona. And that means his lakeside home, an office building, commercial land and other Nash County properties need to be sold.
So Rose has retained John Dixon & Associates to market 18 of his properties in a live auction set for 11 a.m. Saturday, Feb. 20, at the DoubleTree by Hilton in Rocky Mount. “I used an auction to sell business assets, so I was familiar with the process. This will clear the way to move to where we can downsize and be closer to family,” said Rose, whose A.B. Rose Construction Company closed in 2009.
The five-bedroom home at 905 Old Mill Road sits on almost eight acres overlooking a 10-acre city-owned lake for which the owner of the home will have exclusive use. “The lake was a rock quarry to which we retained the exclusive rights, which will pass on to the buyer. It’s maintained by the City of Rocky Mount,” said Rose.
Another highlight in the auction will include the two-story office building at 430 S Wesleyan Boulevard in Rocky Mount. “This building has room for 10 offices, as well as a reception area, work room, file room, three restrooms and a full bath. It would be a great location for an insurance agency or almost any type of professional office,” said John Dixon, president of the auction company.
Also selling will be a 114-acre farm with a home for rental income, and a commercial property with an equipment shed, shop and shelter buildings. Other properties include several commercial land tracts, five of which are along S Wesleyan Boulevard.
Bidders will also be able to participate online while viewing a live simulcast.
Individuals seeking additional information may visit www.johndixon.com or call 404-625-6410.
John Dixon & Associates, based in Atlanta with offices in Tennessee, Florida and North Carolina, is one of the nation's largest auctioneers of real estate properties, including land, homes, developments, condominiums, farms and other properties owned by individuals, investors, banks and other institutions.
“Our online buyers played a little bigger role in this group of auctions,” said John Dixon, president of the auction company. “Typically, we’ve had online bidders buying about half the properties offered in our auctions, but last week, the online bidders were more prominent, buying about two-thirds of the properties sold.”
The auctions featured properties from numerous sellers, using the company’s Multi-Seller format.
“The Multi-Seller auctions are continuing to evolve, as both sellers and bidders get more familiar with the concept. Sellers can offer just a few properties or even one, and the marketing cost is prorated. Bidders like them because they sometimes provide a wider variety. We still have some bank-owned properties in the auctions, but there are also some that are being sold by individuals, investors or investment funds,” said Dixon.
The company has already begun making plans for its next Multi-Seller auctions. “We’re getting a lot of inquiries on these. We’ve already been selling real estate from all over the Southeast, but we’re starting to get some from other regions as well, and the format works well for those as well,” said Dixon.
John Dixon & Associates, based in Atlanta with offices in Tennessee, Florida, North Carolina and South Carolina, is one of the nation's largest auctioneers of real estate properties, including land, homes, developments, condominiums, farms and other properties owned by individuals, investors, banks and other institutions.
ATLANTA, Georgia (April 29, 2015) -- From prime waterfront land on the Gulf of Mexico to lakefront and commercial land in North Carolina, more than 300 properties are set to sell in a series of three May auctions in Tallahassee, Brunswick, Georgia, and Atlanta. John Dixon & Associates is managing all three Multi-Seller events, in which the real estate will be grouped into approximately 100 property offerings.
The series will open at 11 a.m. Tuesday, May 19 in Tallahassee, where properties will include home sites in the East Bay area of Panama City, an oceanfront home site on St. George Island, and a lodge and land in Carrabelle, Florida. The second event, which will begin at 11 a.m. Wednesday, May 20, in Brunswick will feature commercial properties in Camden County as well as home sites around Brunswick. The finale on May 21 in Atlanta will include commercial land and a home in Hayesville, N.C.
“This group of properties really illustrates the evolution we’re seeing in the industry. This auction includes properties owned by several banks, but it will also feature a good bit of real estate being sold by investors who have acquired it within the last few years and are now ready to sell it,” said John Dixon, president of the auction company.
“Each of these three auctions will be very different from the others. The Tallahassee event, for example, will have some really nice residential and commercial land. In Brunswick, we’ll have more in the way of commercial buildings, though there will still be some very nice residential property and home sites. In the Atlanta event, those North Carolina properties will include an incredible home site and commercial land near the Hayesville court house. The Atlanta event will also feature properties from Alabama, South Carolina, Tennessee and Indiana,” said Dixon.
Individuals seeking additional information, including auction locations, may visit www.johndixon.com or call 800-479-1763.
Southeastern real estate to sell in absolute auctions in Savannah, Anderson, S.C.
SAVANNAH, Ga. (January 15, 2015) – A six-year-old office building that was built as a former bank branch, a golf course home on Hilton Head Island, a former restaurant, and dozens of other commercial and residential properties will sell in a pair of auctions Feb. 4-5, with John Dixon & Associates managing the auctions.
The former bank branch, located in Richmond Hill, Georgia, is a 12,000-square-foot building built in 2008, according to John Dixon, president of the auction company. “This is a great location and a relatively new building that is suitable for use as office space for attorneys, insurance agencies, investment firms and other types of businesses,” he said. “In fact, this is a great group of properties, most of which are selling absolute, with no minimum or reserve.”
The properties will be part of more than 30 real estate offerings in North Carolina, South Carolina, and Georgia to be offered in an 11 a.m. event Thursday, Feb. 5, at the Holiday Inn Hotel & Suites, located near the Savannah Airport in Pooler, Georgia.
Another group of approximately 50 real estate offerings will sell the day before, on Feb. 4, beginning at 11 a.m. at the Hilton Garden Inn in Anderson, South Carolina. That auction will include several homes, as well as waterfront home sites, commercial and residential land, and other properties in North Carolina, South Carolina and Georgia.
“We’ll have a lot of nice investments in the Anderson event, and these are all selling absolute. These cover a broad area within South Carolina, Georgia and North Carolina. Real estate investors, builders and others will want to give these a good look,” said Dixon.
ATLANTA, Ga. (January 6, 2015) -- The Palmour House – a Victorian mansion built in 1892 for the founder of what is now Emory Dental School – will be offered at auction Wednesday, Jan. 28, headlining a group of approximately 70 property offerings. John Dixon & Associates will manage the event.
The restored home is now being used primarily as office space. It was originally commissioned by Dr. William Crenshaw, founder of Atlanta Dental College, now part of Emory.
Other Georgia properties set to sell the same day include a shopping center in Rome, a convenience store in Gwinnett County, and a Macon warehouse, as well as homes, apartment buildings, and residential and commercial land. The auction will begin at 11 a.m. at the John Dixon & Associates headquarters at 200 Cobb Parkway North, Suite 120, Marietta, Ga.
The Atlanta auction is the second of two auctions of properties. The first event will begin at 11 a.m. Tuesday, Jan. 27, at the Holiday Inn at 2725 Graves Road in Tallahassee. The Tallahassee auction will feature a 75-acre industrial property in Hosford, formerly used as a wood chip mill. “This is a great site for someone interested in using it for the lumber or construction industry, because it’s right on the railroad tracks and has building-related businesses on either side,” said Dixon. Other Florida properties include residential and commercial land in Tallahassee, Panama City, Midway and other cities.
Dixon said both events will feature properties offered primarily by lenders. “By combining properties from a number of banks, investors and others, we’re able to offer a really good selection that will be of interest to real estate investors as well as individuals. This will be the first big opportunity to buy bank-owned real estate in 2015, and by all indications there will be fewer properties coming to auction this year because bank inventories are dwindling,” he said.
I'll confess that I get frustrated at times with the way media cover financial news. I wouldn't mind if it were just a matter of sensationalism, but it's not always that simple. At times, media show such a lack of perspective that stories convey the exact opposite of what is really the case.
Take this headline from a recent Wall Street Journal:
Home-Price Growth Slows Sharply, Case-Shiller says
Sounds horrible, doesn't it? And I'll say at the outset that the facts in the story are basically correct. But let's look more closely. Just what does it mean to “slow sharply,” anyway? It sounds almost like home prices are crashing and burning. But right there in the second sentence, it tells us that the S&P/Case-Shiller index of home prices in 20 major cities shows home prices rising 9.3%. That doesn't exactly sound like a “batten-down-the-hatches” storm to me.
If our homes appreciated by 9.3% every year, we'd all be in high cotton. So why the hysteria? Because economists had been expecting prices to rise by 9.9%, which would still be down from 10.8% the previous year.
In truth, even a growth rate of 9.3% is probably unsustainable. After all the pain we've been through in recent years, the last thing we need is an overheated market. Rather, what we need is a good, healthy market for real estate owners – whether homeowners or investors – to prosper. And I'm seeing a lot of signs that we have just such a healthy market. Despite some bumps coinciding with international turmoil and the default of Argentina on its debt, the stock markets have continued their long term bull market.
It's also good to note that people are paying their bills. The S&P/Experian Second Mortgage Default Index shows that the default rate on second mortgages is holding steady at a low 0.57 percent, having remained well under 1 percent for more than two years. When you consider that 4.35 percent were defaulting on their mortgages five years ago, I'd say we're in pretty good shape by comparison.
This, of course, is important because when we're investing in rental properties, we naturally want to make sure people can pay the rent – or qualify for mortgages on properties we're selling.
This translates into a good environment for us, because the current environment is positive for both sellers and buyers. And in a John Dixon & Associates auction, you don't have to worry about whether you're getting a fair price. The competitive nature of the auction takes care of that!
John Dixon & Associates CFO receives AARE credential
ATLANTA, Georgia (July 24, 2014) – Kathy (KJ) Otis, chief financial and administrative officer for Atlanta-based John Dixon & Associates, has received the Accredited Auctioneer Real Estate (AARE) designation from the National Auctioneers Association Education Institute.
The designation is held by only 350 professionals in the United States. To qualify, Otis completed more than 42 hours of intensive training over a three-year period, covering ways to effectively market residential, agricultural, commercial and industrial real estate. In addition, the program included training in how to evaluate property, prepare it for auction, advertise it, prepare the financial documents for the auction and address other challenges.
John Dixon, president of the company, said the designation demonstrates Otis's broad area of expertise.
“In her role as our chief financial officer, KJ has her finger on every aspect of our business, and she understands the need to grow and continue her education to ensure that we can get the best possible service for our clients, who include banks and other institutions as well as individuals, trusts, and even government agencies. This presents us with a wide range of areas that call for specialized knowledge, and I'm proud of her for this very significant accomplishment,” said Dixon.
Otis attended Kennesaw State University and has served with John Dixon & Associates since 2002. She also serves as treasurer of the Georgia Auctioneers Association.
ATLANTA, Ga. (June 2, 2014) – Large crowds of bidders filled bidding rooms in a series of Georgia and South Carolina auctions last week as John Dixon & Associates sold 108 properties for $8.25 million.
“We had fantastic crowds on all three days, in Gainesville, Ga., Greenville, S.C. and Savannah, Ga.,” said John Dixon, president of the auction company. Rooms were filled to capacity with live bidders, with other bidders watching the action online and entering their bids through the Internet.
“We had a good number of high-quality properties, and that makes a difference. Among those selling were a medical office building in Duluth, a multi-tenant retail property in Chesnee, S.C., and some townhouses in Savannah, as well as some other commercial and residential properties and land,” said Dixon.
Internet bidding continues to play a growing role as online and live bidders compete head-to-head, Dixon said. “We actually had more registered bidders online than in person for these three events, and 41 percent of the properties sold to bidders who were participating online. This really allows more people to participate without travel, and that translates into better results for our sellers,” he said.
John Dixon & Associates now turns its attention to the upcoming auctions of more than 400 properties throughout the Southeast June 24-26. “This is going to be an exciting group of auctions, and we'll be announcing the details very soon,” said Dixon. Individuals seeking additional information may visit www.johndixon.com or call 770-425-1141.
John Dixon & Associates, based in Atlanta with offices in Tennessee, Florida and North Carolina, is one of the nation’s largest auctioneers of institutional real estate properties nationwide.
There are a lot of ways to do an auction these days, and various auction companies tend to favor one or the other. This can be confusing to someone who wants to sell, whether it's a single property or an entire portfolio.
To touch on the ultimate question of which is best, the answer is that it depends. Let's walk through the major ones one by one and consider the various advantages and disadvantages. While all of the methods can be used for either real estate or other assets (such as personal property or machinery), I'm going to focus on real estate, because that's our main business at John Dixon & Associates.
Before I describe the various approaches, let me say that regardless of the one you go with, you need to make sure that your auction company meets several criteria:
Up to the marketing challenge. Use one that will actively market your property and provide detailed information to bidders. No matter which format you use, it's critical to remember that people buying real estate always need to see the property and do their “due diligence” research, even if they're buying online. That means you need to use a company that will make provisions for inspections and provide the necessary documents. The property needs to be presented favorably with good photography, of course, and bidders need to be properly qualified to ensure the integrity of the process.
Properly equipped. Ensure that your company has the right tools for the format it is using. For example, if you're doing an Internet-only auction, you'll need to make sure the company has a proven, secure, user-friendly system for displaying your property, qualifying bidders, and taking bids. If it's a live auction with simulcast, ensure that the audio, video and connectivity are reliable, and that the bid assistant communicating with the online bidders is qualified to handle any questions that come up, whether technical or related to the property.
Properly licensed. License requirements for auctioneers and real estate brokers vary from state to state. Make sure your company is properly licensed for your sale.
Now, let's move on to some of the auctions available.
Live AuctionBefore we move on to the various types of auctions involving the Internet, it's important to note that even today, the live, public-outcry auction continues to be the heart and soul of the auction industry. This is where my roots are, and even when we make use of the Internet, the overwhelming majority of our sales involve a live auction, where people gather into a room and enter their bids while a bid caller conducts the sale. This is also a favorite for most of our bidders and is most assuredly the most fun!
Timed Internet Auction
When it comes to auctions using Internet technology, this is probably the format with which most people are familiar, because it bears similarities to the format on EBay. Your property is shown with full information, photos and other critical information, and bidders may enter their bids within a defined timetable. This timetable can be for weeks or just a few days, but lately, more auction companies seem to favor shorter time periods.
Here are some of the advantages of a Timed Internet Auction:
Bidders may choose any time to enter their bids within the allotted time frame.
A bidder may enter a maximum bid, with the system raising the bid up to that amount as needed.
Costs may be lower because the auctioneer may not incur the costs of a live auction.
A common concern, of course, is that many feel that the more relaxed time frame and the absence of a live auctioneer can reduce the urgency and ability to get the highest possible price.
Timed online followed by live auction
In this hybrid arrangement, an online Internet auction is conducted in the days leading up to the live auction, then the high bid serves as the opening bid for the live auction. Its use for real estate appears to be declining, but there are still a number of companies using it. It's still very common in auctions of personal property. Since we rarely sell personal property, we've had few occasions to use it.
One reason often given for using this method is that it caters to both the bidder who prefers an online format and the one who prefers to participate in a live auction. Since most serious bidders are going to want to participate up to the very end, most would probably participate in the live event regardless of whether they had entered online bids, which would seem to make the online unnecessary. However, the online portion might provide a “security blanket” of bids going into the live event.
Live auction with simulcast
This is the format we use most commonly at John Dixon & Associates, because it allows bidders to be either live in the room or bidding via the Internet, depending on which they prefer. (Older bidders seem to prefer live bidding, while younger ones are more likely to bid online.) Either way, they compete head to head, at the same time, for the same properties.
It's common for us to sell 30, 40 or even 50 percent of our properties in a major portfolio auction to online bidders. This can vary widely, of course, depending on the number, type and value of assets being sold.
Whatever you do, make sure it's done well
There are more possibilities and twists, but these are the major ones. Ultimately, the most important thing is to do it well, and to work with a company that has a strong track record for professionalism, integrity and solid results.
We'll be talking about these and other options in a webinar on May 8, from 3 to 4 p.m. Eastern. You can register here.
Meanwhile, we can have a dialogue without waiting until we can meet in real time, so I invite you to offer your comments on this post.
We're getting ready for our first major group of auctions in 2014, and it's shaping up to be a great one, with excellent properties featured in each of the three events. We especially have a lot of good commercial properties such as offices and office condos, but there's much more. Here's our press release on the sales. You can see the entire inventory under the Upcoming Auctions section.
ATLANTA, Ga. (Jan. 28, 2014) -- More than 120 bank-owned properties in Georgia, Florida and Alabama -- including a wide range of commercial and residential properties -- will sell in a multistate series of three auctions Feb. 18-20, with John Dixon & Associates managing the events.
“This is our first major set of auctions of 2014, and it’s one of the best groups of properties we’ve had in a while,” said John Dixon, president of the auction company. “We have a wide range of offerings, including day care centers, restaurants, retail, homes, golf course lots, and land,” said Dixon.
The series of auctions will open at 11 a.m. EST Tuesday, Feb. 18, at the Marriott Orlando Airport, in Orlando. That sale will feature properties from Tallahassee to Miami, with a concentration in Central Florida. “One highlight is a 45-acre commercial tract on the bay in Melbourne. We also have some nice office condos in Tallahassee, and office buildings, warehouses, industrial properties and others dotted throughout the state,” said Dixon.
Approximately 65 Georgia properties will sell beginning at 11 a.m. EST Wednesday, Feb. 19, at the Holiday Inn Atlanta - Perimeter/Dunwoody. “We have a lot of properties from south of Atlanta up to the state line. A couple of highlights are restaurants in Stone Mountain and Newnan, a former auto dealership in Jasper, and a child care facility in College Park,” said Dixon.
The Birmingham sale is set for 1 p.m. CST Thursday, Feb. 20, at the Embassy Suites in Homewood, 2300 Woodcrest Place. It will include approximately 40 properties from around the state, including a two-tenant medical office building in Valley and an assisted living residence in Alabaster.
John Dixon & Associates, based in Atlanta, is one of the nation’s largest auctioneers of bank-owned residential and commercial properties nationwide.
Marietta's John Dixon elected to Auctioneers Hall of Fame
ATLANTA (July 23, 2013) -- John Dixon, founder and president of Marietta-based John Dixon & Associates, was inducted into the National Auctioneers Association's Hall of Fame Thursday night when the nation's auction professionals met in Indianapolis for their annual convention.
Dixon was one of three individuals named to the prestigious body, which has admitted only 140 members in its entire history.
"Apparently, everybody in the company knew but me, which is the way it's supposed to be," said Dixon. "I did notice we had more people from John Dixon & Associates than usual attending the convention, but I didn't think anything of it. It is one of the greatest honors of my life, and I'm humbled by the recognition."
Announcing Dixon's name during ceremonies at the Indianapolis Convention Center was veteran auctioneer Joe Tarpley, who is an agent with John Dixon & Associates.
Dixon has been in the auction business since 1976 and has served in numerous leadership roles in the industry, including service as a director of the NAA and as president of the Georgia Auctioneers Association. He has been instrumental in the sale of thousands of residential and commercial properties for individuals and banks throughout the United States, as well as for the Resolution Trust Corp., the Federal National Mortgage Association (Fannie Mae), and the FDIC.
John Dixon & Associates, based in Marietta, Ga., is a leading auctioneer of bank-owned properties throughout the United States. Individuals seeking additional information may contact the firm at 770-425-1141 or visit www.johndixon.com.
Given all the ongoing news about surging real estate sales and prices, it wasn't surprising to see scores of investors bidding on these properties in the Florida Panhandle. These smart buyers know that the time is growing short for getting bargains!
Florida panhandle properties sell for $1.7 million
TALLAHASSEE, Fla. (June 26, 2013) -- A standing-room-only crowd of real estate investors, individuals and other bidders jammed into a ballroom at Tallahassee's Hotel Duval Tuesday for the auction of 61 properties for Centennial Bank.
The properties -- including condominiums, homes and home sites -- brought a total of $1.7 million, according to Buddy Lee, who manages Florida operations for John Dixon & Associates.
"We had more than 180 registered bidders competing for the properties. There was a lot of excitement in the room, and I think the bidders who were participating via the Internet were picking up on that energy as well. This type of Internet bidding broadens the market and creates more demand, and we could see that Tuesday," said Lee.
Auction company president John Dixon said the large turnout may reflect a growing conviction that the recent gains in real estate prices will continue.
"Home prices just showed the biggest month-over-month gain since 2000, and they've been rising steadily for more than a year. Investors, individuals, builders and others are realizing that the bargains around now won't last forever," said Dixon.
Dixon said improving demand may also entice more sellers to offer more real estate at auction. "We've been doing a lot of sales of bank-owned properties, but there are many other property owners who are seeing the results of our auctions and considering the method themselves. This includes everyone from individual owners of homes and condominiums to institutional property investment firms," said Dixon.
John Dixon, headquartered in Atlanta with offices in Tallahassee, Fla., and Chattanooga, Tenn., is a leading auctioneer of real estate owned by banks, individuals and investors throughout the United States.
More than 120 people -- including about 75 registered bidders -- gathered at the Chateau Elan in Braselton for the event. Another 65 bidders participated online, listening to the auction and entering their bids via the Internet. Eighteen of the 40 properties sold were purchased by online bidders.
"We had a good number of investors as well as individuals buying for their own use. Developers, builders and other investors are realizing that with the real estate market in an established uptrend, it's smart to get in at today's prices," said John Dixon, president of the company.
On Thursday, the company will sell another group of properties, including a 3,400-square-foot facility in Barnesville. Most of those properties are located between Macon and Atlanta, with concentrations around Barnesville, Covington, Thomaston and Griffin.
Thursday's auction will begin at 11 a.m. at the Hilton Garden Inn in McDonough. Individuals interested in additional information may visit www.johndixon.com or call 770-425-1141.
John Dixon & Associates, based in Marietta, Ga., is a leading auctioneer of bank-owned properties throughout the United States.
If the sun seems a little brighter lately, there may be a reason for it. For the first time in well over five years, the Dow is finally back above the 14,000 level, where it was in October 2007, just before our economy hit the biggest air pocket since the Great Depression. During the crash, assets of all types seemed to go into a free fall -- stocks, homes and commercial properties. People watched as their retirement accounts fell to a fraction of their former value.
But just in the last few weeks, we've seen the Dow climb back above 14,000. I don't want to overstate the impact of that, because the Dow isn't the best indicator of where the economy is. But it has a major psychological importance, because it's still the indicator the press mentions most. And getting above a barrier like 14,000 can give folks a lift. After well over five years -- at least by that measure -- we're finally clear of the horrendous downturn.
And we're seeing positive signs in the real estate market, too. In January, home prices -- as measured by the Case-Shiller Index -- showed the biggest year-over-year gain since before the crash. The National Association of Realtors reports that sales of vacation homes were up 10.1% in 2012, and the median price of a vacation home rose by 24%. When people get scared, luxuries like vacation homes get hit first. So when beach homes and condos start to recover, it means people are feeling pretty good about things.
As I've noted recently, we've been seeing signs of the upturn in our auctions. Our series of five auctions in late March demonstrated the strengthening economy in a dramatic way, as we had capacity crowds and vigorous bidding all over Georgia. Ultimately, the total reached $17.5 million, as hundreds of bidders purchased homes, commercial properties and land to position themselves for a stronger economy.
The economy is notoriously difficult to predict, so it's hard to tell what's ahead. But all the momentum seems to be positive right now, and there are a lot of opportunities ahead. Our buyers know that those who prepare now by accumulating assets will be miles head in the months and years to come.
ATLANTA, Ga. (March 18, 2013) – Office buildings, shopping centers, industrial land and a Pensacola restaurant are among approximately 75 properties currently owned by CharterBank that will be sold at auction April 10-11. John Dixon & Associates will manage both auctions.
The first auction, in Atlanta, will include a 21,000-square-foot office/warehouse in Rome, two strip shopping centers in Stockbridge, two two-story commercial office buildings in Newnan, and a 10,353-square-foot commercial office building in Newnan. It will be held at Quality Hotel & Conference Center beginning at 11 a.m. Wednesday, April 10.
The second auction will begin at 2 p.m. Thursday, April 11, at the Pensacola Bay Center (formerly the Pensacola Civic Center). Properties to be sold include the former home of Wintzell's Oyster House on East Chase Street in Pensacola.
The auction company will sponsor free informational seminars for brokers, prospective buyers and others interested in participating in the auctions.
Individuals seeking additional information -- including specific dates and times for the events -- may contact the firm at 770-425-1141 or visit www.johndixon.com.
ATLANTA, GA. (March 19, 2013) -- Approximately 480 bank-owned properties in the Atlanta area and central Georgia will be sold at auction April 16 and April 18, as two banks sell scores of home sites, commercial properties, land and other properties. John Dixon & Associates will manage both auctions.
Properties to be sold on Tuesday, April 16, are concentrated in the eastern side of the Atlanta metro area, with properties in DeKalb, Jackson, Gwinnett and Barrow counties, among others. "The properties being sold April 16 include a number of residential lots, which developers and builders will be needing for new construction as the economy continues to strengthen," said John Dixon, president of the auction company. "While we'll be selling these in about 45 property groupings, some of the groupings include multiple lots, such as 57 lots in a single property in Hoschton and 76 lots in Winder. We also have an office warehouse in Winder and some nice commercial lots in Bogart."
The April 16 auction will begin at 11 a.m. at Chateau Elan, Braselton.
Among the properties selling on Thursday, April 18, are two day cares -- a 3,400-square-foot facility in Newnan and a 3,111-square-foot facility in Barnesville. "Most of the properties selling on Thursday are located between Macon and Atlanta, with concentrations around Barnesville, Covington, Thomaston and Griffin. We have quite a bit of commercial, residential and industrial land in this group of properties," said Dixon.
The April 18 auction will begin at 11 a.m. at the Hilton Garden Inn, McDonough.
Individuals interested in additional information about the two auctions may visit www.johndixon.com or call 770-425-1141.
It's a given that quality and quantity don't always go together. But our upcoming group of auctions in March will feature a lot of excellent properties, including a golf course in Sumter County, dozens of nice homes, several restaurants. We'll be selling them over five days in five different cities. Be sure and check the details on these, because you'll find some assets that you'll likely find very profitable!
ATLANTA, Ga. (Feb. 22, 2013) -- A golf course, restaurants and a former funeral home are among approximately 250 bank-owned properties that will be sold in a series of five auctions beginning Tuesday, March 19.
"This is one of the biggest portfolios of bank-owned properties we've handled in years, with properties not only in Georgia, but also in Alabama, Florida and North Carolina. We'll have events in Americus, Tifton, Brunswick, Savannah and Atlanta," said John Dixon, president of John Dixon & Associates, which will market the properties and manage the auctions.
The series of events will begin in Americus Tuesday, March 19, with the auction of approximately 34 properties, including 10 homes, a funeral home and a golf course. Most of the properties in that sale will be in Schley, Sumter and Marion counties.
On Wednesday, the John Dixon team will move on to Tifton, where it will auction 40 properties, including 20 homes, a restaurant, four townhomes, and residential lots. Most of the properties in the Tifton event are located in Tift, Colquitt and Lowndes counties.
The third event will be at 11 a.m. Thursday, March 21, in Brunswick, with 53 properties, including river frontage, golf course lots, and homes. The fourth will be Saturday, March 23, in Savannah -- an auction that will include approximately 37 homes, as well as office condominiums and riverfront land.
The series of auctions will conclude with the sale of approximately 66 properties -- most located in the greater Atlanta area and north of Macon. The Atlanta area sale will feature a mix of commercial, residential and rural properties, including four golf course home sites, homes and commercial buildings.
When it comes to investing in real estate, the folks in Chicago get it. And those who turned out for our two-day FDIC Chicago auction got some great deals on homes, condominiums, office condominiums and other real estate that should produce excellent returns in the next few years.
Over two days, we had about 240 attendees, including 122 who came to bid in person. Another 36 participated online. We sold 79 out of the 81 properties offered. Most of those -- 74, in fact -- were residences and commercial properties. As I'd noted when we first announced the auction, this sale consisted heavily of improved residential and commercial properties.
Across the board, the properties sold for prices that afforded the bidders with some excellent values. While many real estate prices have been firming up for several months, they're still at levels that enable investors to earn excellent returns, and we had a number of properties that were ideally suited to the needs of smaller investors, who figured prominently in the auctions.
Let's face it: When it comes to any investment, half the battle is buying at the right price. For a smaller investor, that means finding a property within your means. But whether you're investing $50,000 or $5 million, it also means investing at a level where the rental income provides a suitable rate of return, or at which you'll be able to make a profit down the road.
Our auctions of bank-owned properties during 2012 have presented just those types of opportunities. Bidders have been acquiring properties at prices that won't last forever. At the same time, crowds at our auctions have been growing, resulting in solid results for the financial institutions and others for whom we're helping reduce inventories.
We've had great year, and it's given me a lot of satisfaction to help our sellers reduce their holdings while providing avenues for investors to build portfolios that will make them a lot of money. I have every confidence that 2013 will bring more of the same.
That's the case with the S&P/Case-Shiller Index, which has become the leading measure of U.S. home prices. The national composite was up 3.6% compared to the third quarter of 2011, and 2.2% compared to the second quarter of this year.
Not that I was surprised. I've been saying for a while now that the real estate market was recovering, and the new numbers are convincing:
· Breadth. A recovery in one or two hotspots doesn't mean much. But of the 20 cities tracked, 17 were above their levels from a year ago.
· Persistence. Both on a month-to-month and year-to-year basis, we've seen steady progress. The 10-City and 20-City Composites have risen month-over-month for six straight months.
From the investor/buyer perspective, this is really good news. Real estate is still a great value, especially compared to the prices we saw before the credit crisis in 2007-2008, so there's a lot of room to grow. Yet, the upward trend is well established, showing that the market has stabilized and begun to gather steam.
That means, of course, that our upcoming two-day auction of 100 properties for the FDIC in Chicago will offer some excellent possibilities. We have an especially strong lineup of residential properties, many of which are concentrated in the Cicero area. We'll start at 11 a.m. on Saturday, Dec. 8, and 2 p.m. Sunday, Dec. 9. I look forward to seeing you there.
I'm excited about our upcoming auction of 100 properties for the FDIC in Chicago. There are a lot of great investment homes in this group for those who might be seeking an income property. Here's the release about the FDIC sale in Chicago.
As we move into the holiday season, I know a lot of folks will be taking vacations and spending time with family. But we're already hard at work lining up auctions for the new year. January and February can be an excellent time for an auction as people are returning from the holidays, charged up about the new year and looking for opportunities.
FDIC to auction Chicago-area residential and commercial properties
CHICAGO, Ill. (Nov. 14, 2012) -- Bank-owned homes, duplexes, multi-unit residences and commercial properties in the Chicago area will be among approximately 100 properties set to be auctioned by the FDIC on Dec. 8-9.
"This will be an excellent time for individuals seeking homes for themselves or their family members, or for real estate investors who are seeking to add to their portfolios of investment properties," said John Dixon, president of John Dixon & Associates, which will conduct the auctions.
"Most of these properties are unoccupied and present excellent opportunities for creating an income stream, or in some cases for renovation and resale," said Dixon.
One of the highest profile properties is a single family residence on Bosworth Avenue, in the Lake View Oscar subdivision. "This is a very upscale home that is only nine years old, located in a high-demand area. We also have some attractive commercial properties, including a property with a car wash and two restaurants, a couple of bank branches, and some office condominiums," said Dixon.
The first event, at which the FDIC will auction approximately 60 properties, will begin at 11 a.m. Saturday, Dec. 8. The second event, at which approximately 40 properties will be auctioned, will begin at 2 p.m. Sunday, Dec. 9. Both will be conducted at the Marriott Chicago Midway, 6520 South Cicero Ave.
Chinese and Spanish translators will be available both days.
Dixon said investors who had shied away from real estate since the credit crisis are now returning. "By virtually any yardstick, real estate is gaining strength, with home sales, construction and prices beginning to establish a clear uptrend. That means, of course, that those who delay too long will probably find themselves paying more," he said.
The local Chamber of Commerce may not have been thrilled when the S&P/Case-Shiller Index pointed out that Atlanta was the only city in its 20-city composite with a double-digit negative annual return on home prices, but real estate investors should welcome the news.
The ideal environment for any investment is one in which assets are underpriced relative to their true value. Sooner or later, other buyers will identify the values and start buying, resulting in significant profits for the investors who got in early. Investors especially like it when they identify a pocket of value once the overall market has begun to turn.
Atlanta is in precisely that position right now. Take a look at the chart, which shows the rate of change vs. 12 months earlier for Atlanta and the composite. Note that both Atlanta and the 20 cities are already in a well established upward trend, beginning around January. Prices in both are clearly improving, but Atlanta just started "deeper in the hole."
As an investor, that to me screams "value!"
The statistics on the real estate market continue to improve, but my favorite indicator of where things are going is the number of bidders attracted to our auctions, and the intensity with which they bid. Last week, I was encouraged by both at our auction of a large group of properties in the Atlanta metro area. Here's a press release we did on the auction.
ATLANTA, GA (Aug. 1, 2012) -- Last week's auction of approximately 40 properties signals an upturn in the real estate market, with a strong group of live and online bidders competing vigorously in an event that brought a total of more than $4 million.
"Things are definitely improving based on the number of bidders seeking to build up their portfolios in anticipation of a strengthening economy," said John Dixon, president of Atlanta-based John Dixon & Associates, which conducted the auction for a major regional bank.
Most of the properties were located in the southern metro Atlanta area, including Fayetteville, Palmetto, Stockbridge and the Peachtree City area.
"It was standing room only, with about 80 bidders in the room and another 70 participating online," said Dixon. "Demand was strong across the board, whether on a restaurant, office buildings, retail or residential home sites. Best of all, we put a lot of properties in the hands of individuals who will be positioned for the better times ahead," said Dixon.
ATLANTA, GA (July 2, 2012) -- Retail and office buildings, commercial land and more than 200 home sites are among the bank-owned properties in metro Atlanta that will sell at auction Thursday, July 26, with John Dixon & Associates managing the sale.
“Most of the properties are located in the southern metro Atlanta area, including Fayetteville, Palmetto, Stockbridge and the Peachtree City area. But there are a few sprinkled elsewhere, including Villa Rica, Alpharetta and Snellville,” said John Dixon, president of the auction company.
“We have a strong group of commercial properties, including three buildings and three commercial pads at the beautiful Burkes Square development in Fayetteville,” said Dixon. “We also have the Woodbury restaurant formerly known as Wayne’s, and an office/warehouse and self-storage facility in Haralson.”
Other properties include a multi-tenant retail center with 17 bays (Riverdale), a five-bay truck shop and office/house (Conley), and a convenience store (Newnan).
The properties are owned by a major regional bank. “It’s unfortunate that the downturn of the last few years resulted in so many good properties ending up under the ownership of banks. But the upside is that great fortunes are often made by investing when prices are low. Many of these properties will probably sell at a fraction of their former prices. Smart investors understand that lower prices translate into excellent returns at low risk,” said Dixon.
The auction will begin at 11 a.m. at the Quality Hotel Conference Center, 1551 Phoenix Road, Atlanta. Individuals seeking additional information may contact the auction company at 770-425-1141.
John Dixon Associates, based in Atlanta, is a leading auctioneer of commercial property, residential property and land throughout the United States.
ATLANTA, Ga. (May 21, 2012) -- Selling 11 commercial buildings would be a challenge under any circumstances. But when they're scattered out in more than 10 cities in five states, it calls for some serious coordination.
John Dixon & Associates not only pulled it off, but got the buildings successfully sold.
"We really felt that it was important to sell most of these buildings at the location itself, and that meant we had to form three teams, with multiple auctions two of the three days. But our folks were up to it, and we had 10 auctions, each of which ran smoothly and resulted in a successful sale," said John Dixon, president of the company.
The company dispatched one team -- including Dixon -- to Pennsylvania, where it conducted a morning auction in Richland and an afternoon event in Easton. A second team started in Riverdale, Ga., and moved on to Anniston, Ala., while the third headed to Virginia. The second day brought auctions in Hanover, Pa., Virginia Beach, Va., and Cottonwood, Ala. Finally, the Virginia and Pennsylvania teams were able to return to the company's Atlanta headquarters while the third went to Avon Park, Fla., for a final auction on the third day.
"The properties we were selling were primarily high-quality commercial buildings that had been left unoccupied as banks had gone through mergers and consolidations. It's very satisfying to get these into the hands of investors and businesses that can put them to good use in an improving economy," said Dixon. The properties sold for a total of $1.45 million.
In separate events on May 15-16, John Dixon Associates also sold four commercial properties in Tennessee for a combined $525,000. The buildings were located in Hampton, Pikeville, Spring Hill and Chattanooga.
Successful John Dixon auction blitz: 11 commercial buildings, 10 events, three days, five states
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.
If you have any questions please let us know. We look forward to hearing from you!