REDC Miami Condo Auction Very Successful’

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'This auction is a perfect example of a best-case-scenario for both buyer and seller.'

For those looking to buy or invest in today’s housing market, now is the best time

REDC’s successful run of builder auctions continued in Miami on Saturday when the nation’s leading real estate auction company sold 24 Altos de Miami condominiums.

The auction took place at the Hilton Miami Airport Hotel.

"We're very pleased with the results from the auction," says REDC CEO Jeff Frieden. "Our client was able to sell 24 units at the auction to the large group of homebuyers and investors in attendance including 6 units to online bidders.

“This auction is a perfect example of a best-case-scenario for both buyer and seller."

Last month, REDC sold all 22 of the luxury condominiums at 18th on the Bay at the Peninsula on Indian River Bay in Millsboro, Delaware. In April, REDC sold all 65 San Lorenzo high-rise condominiums in Miami in just two and half hours.

REDC’s next builder-developer auction is July 17 when it auctions 35 high-rise condominiums at The Metropolitan in Dallas at 1 p.m. at the Downtown Sheraton Dallas.

The full REDC auction calendar can be viewed online at our website, http://www.Auction.com.

Saturday’s Altos de Miami auction was a unique opportunity to be at the heart of a magical area at an affordable price and homebuyers took advantage of it,” Frieden says.

The Altos de Miami condos that did not sell, including several penthouses are available for post-auction offers online at REDC’s web site, http://www.Auction.com or at the special Altos de Miami Auction site http://www.REDCsale.com.

The Altos de Miami sellers are motivated, Frieden says, and the auction prices are very attractive.

Altos de Miami features quality condo living in the heart of Miami with spectacular views of the Miami Skyline. As the trend for people wanting to live in the city and not in suburban areas accelerates, the demand for affordable condos like Altos de Miami increases. Residents are minutes from six major employment centers: Miami International Airport, University of Miami Campus, University of Miami and Jackson Memorial Hospital District on 12th Ave, Brickell/Downtown, Coral Gables, and Coconut Grove.

“For those looking to buy or invest in today’s housing market, now is the best time,” Frieden says. “Today’s low prices, motivated sellers and low interest rates have created a perfect storm for buyers. This is a very unique period in the real estate market.

“Auctions are the one way to buy real estate where the buyers set the price,” he adds. “Buyers and sellers meet in a transparent auction platform and the true market value is determined. Our sellers are ecstatic when we deliver the population of interested bidders and buyers are thrilled with auction prices. We continue to see amazing deals at our auctions, one after another.”

Altos de Miami offers studios, one, two and three bedroom condos in a myriad of floor plans, as well as distinct penthouse plans. The quality construction and well thought out floor plans lead to comfortable living. Altos de Miami also offers two-story Skyloft Penthouses of 1 or 2 bedrooms with 18 foot ceilings and floor-to-ceiling windows offering panoramic Downtown and select water views.

Altos de Miami features and amenities include:
·        European style architecture and expansive glass-window accenting
·        Breathtaking views of Miami’s urban skyline and some select water views
·        Expansive balconies included with every unit and oversize terraces on selected residences
·        Private plaza sundeck offering urban views
·        Fitness center
·        Covered and assigned parking
·        Exclusive two story grand entrance porte cochere
·        First-floor executive offices (business center)
·        Onsite commercial/retail and office space
·        Professional security
·        Personalized key-card security access to building, parking, and common areas
·        Close circuit camera security system throughout the building
Altos de Miami residence features and amenities include:
·        Open kitchens with Whirlpool appliances
·        Impact windows and sliding doors
·        Private balconies offering panoramic views and expansive terraces on selected units
·        Stainless steel sink and garbage disposal in kitchen
·        Spacious walk in closets
·        In unit washer/dryer
·        Full-sized tubs in master bath
·        Pre wired for telephone, high-speed internet, and cable
·        Energy efficient cooling and heating systems
·        Selected units feature stainless steel appliance package and granite countertops

About REDC:

Established in 1990, REDC pioneered the model for modern real estate auctions and has transformed into a comprehensive real estate services company. In addition to being the leading real estate auction marketing firm in the country, the REDC group of companies also provides real estate brokerage services, asset management, short sale facilitation and title insurance. The company has established a dominant position in its industry by selling more than $6.5 billion in real estate assets at auction since 2007. REDC's primary clients are residential and commercial mortgage lenders and home builders. The success of the company is based on the aggregation of real estate assets (residential, commercial, notes) that are marketed and sold in large event-style auctions across the country and in online auctions at http://www.Auction.com. Information about REDC and a complete list of upcoming auctions are available at http://www.Auction.com. REDC is based in Irvine, California with additional offices in Dallas and New York.

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