Absolute auction of bank-owned properties set for Oct. 14

ATLANTA, Sept. 19, 2014 /PRNewswire/ -- A swim & tennis club in Gwinnett County, a waterfront home site on Lake Chatuge, several homes and a convenience store and restaurant in Jasper will be among more than 50 bank-owned properties selling at absolute auction Tuesday, Oct. 14, with John Dixon & Associates managing the sale.

"It's very rare to have bank-owned properties of this quality selling at absolute auction, in which every property will go to the high bidder regardless of price," said John Dixon, president of the auction company.

Most of the real estate is located in central and North Georgia, though the auction will also feature properties in Alabama and North Carolina. Other properties include homes, an auto service center in Austell, and a former golf course in Douglasville, as well as commercial and residential land.

"The opportunities to buy bank-owned real estate in large auctions like this are dwindling. Smart real estate investors have benefited from the large inventories of foreclosed properties resulting from the financial crisis, but those inventories are almost gone," said Dixon.

Dixon noted that an improving real estate market is creating more demand for home sites, residential and commercial land. "Housing starts are running at a pace of more than a million per year, and home construction is up 22 percent. That means investors who've been buying foreclosed subdivision lots at low prices are going to make a lot of money. In fact, one of our offerings in this auction has 64 home sites. With everything selling absolute, bidders have a chance to get some great prices on land that builders are going be needing very soon," he said.

The auction will begin at 11 a.m. Tuesday, Oct. 14, at the Hyatt Regency Suites Atlanta North. Individuals seeking additional information may visit www.johndixon.com or call 800-479-1763.

John Dixon & Associates, based in Atlanta, is one of the nation's best known auctioneers of real estate throughout the United States, including land, homes, developments, condominiums, farms and other properties owned by individuals, investors, banks and other institutions.

For more information:
Carl Carter, 205-823-3273

SOURCE John Dixon & Associates

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