11/15/2012 Auction Report

Approximately 10 bidders showed along with several bankers and attorneys involved in the auction.

The banks were bidding when the offers were lower than they expected.  They ended up buying the majority of all of the lots available, but a few were bought by individuals.  Example – the interior lots did not get bids above $8,000.  The bank then bid $8,000.  Individual bidders could then bid $8,050 and win the bid (the bank did not continue to bid once their minimum was met).

 Here is the breakdown:

The Lakeview lots (on the other side of Marina Dr) were actioned as a package to the bank for $290,000

Lots 64, 65 , 68, 69, 102 were actioned to individuals for $8,050 each

Lots 79 & 80 were actioned to individuals for $18,050 each

Lots 63, 66, 88, 89, 136, 150, 151, 152 were actioned to the bank for $8,000 each

Lots 92 & 93 were actioned together for $40,000 to the bank

Lots 103 & 104 were actioned together for $15,000 to the bank

Lot 114 was actioned for $30,000 to the bank

Lot 125 was actioned for $45,000 to the bank

Lot 139 was actioned for $18,000 to the bank

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