This land auction is an extraordinary opportunity for buyers to purchase land in more than 30 states for literally pennies on the dollar.
Irvine, Calif. (Vocus) June 25, 2010
REDC, the national leader in real estate auctions, is conducting an "absolute" nationwide land auction. Land parcels across the country from city lots to large acreage are being auctioned without reserve. Minimum bids are as low as only $100.
Bidding closes in two phases: Saturday June 26 at 10 a.m. PST and Sunday June 27 at 1 p.m. EST.
To see details on all parcels including photos, plat maps, satellite images and other documentation, see REDC's web site, Auction.com. Registration for the auction is free.
“This is truly an amazing opportunity for buyers to purchase land at incredible auction prices,” says REDC Chairman Rob Friedman. “Our online auctions at http://www.Auction.com make it simple for anyone to participate in this event.”
Many of the same parcels in this auction were valued and sold for $100,000 and more. “This is a true ‘land grab,’ like the California Gold Rush in the 1800s,” Friedman says.
The appeal of raw land is its potential. Raw land ultimately turns into everything from housing developments to farmland and nature preserves, to off-road vehicle parks, ski resorts, and vacation sites. The long-term forecast for raw land in the U.S. is optimistic since the driving force is population and the U.S. has one of the highest rates of population growth.
REDC has auctioned a U.S. leading 18,500 foreclosed properties this year for $800 million and is in the midst of a record 125 auctions in 65 days. REDC also conducts land, commercial and notes auctions.
“This absolute online blowout auction is the best way to sell it all at once,” Friedman says. “It’s a ‘free for all.’ We have low starting bids, no hidden reserves and amazing deals for winning bidders.”
As the credit crunch has slowed the economy, values of undeveloped land dropped following a similar trend as the housing market. Friedman adds that this land auction enables bidders to take advantage of today’s real estate market without requiring vast amounts of capital.
“Supply and demand is heavy on the supply side and that has created a nationwide buyer’s market not seen in the land sector for years,” he says. “This land auction is an extraordinary opportunity for buyers to purchase land in more than 30 states for literally pennies on the dollar.”
REDC was established in 1990 and is a full-service real estate services company. In addition to being the leading real estate auction marketing firm in the country, the REDC group of companies also provide real estate brokerage services, asset management and short sale facilitation. The company has established a dominant position in its industry by selling more than $6 billion in real estate assets at auction in 2008 and 2009 alone. 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, land, commercial, notes) that are marketed and sold in large event-style auctions across the country as well as via on-line auctions. Information about REDC auctions is available on http://www.auction.com. For more information about REDC, visit http://www.redcgroup.com.