REDC Holds December Coast-to-Coast Auctions
Real Estate Disposition (REDC) will hold foreclosure auctions from coast to coast on Dec. 5-6. More than 600 foreclosed homes will be auctioned during the coast-to-coast series, which begins in Miami, Sacramento and Richmond, Virginia on Dec. 5. The Dec. 6 auctions take place in Orlando, Santa Clara, Calif. and Washington DC. All auctions begin at 9:30 a.m., and the Florida auction tour will finish in Fort Myers and Jacksonville on Dec. 7. The properties being auctioned include a 12,500-sq. ft. mansion in Boynton, Fla., previously valued at $2.2m. The opening bid will be $149,000. Another is a 4,695-sq. ft. mansion in Orlando, Fla. with a previous value of $1.25m, and the starting bid is $379,000. REDC has conducted 302 auctions this year, selling off 35,900 properties, including foreclosed homes and commercial and builder properties. REDC’s sales for 2009 reached $2bn. Write to Jon Prior.