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AmeriBid LLC Sells an Additional 135+/- Properties at Absolute Auction in New Orleans on Behalf of the New Orleans Redevelopment Authority (NORA)

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NEW ORLEANS, Nov. 6, 2013 (GLOBE NEWSWIRE) -- On Saturday, November 2, 2013, the New Orleans Redevelopment Authority (NORA) held another successful sale of 135+/- homes and lots in its on-going series of Absolute Auction events. All buyers walked out with fully executed contracts and all closings are scheduled to occur within 30 days. AmeriBid LLC acted as Auctioneer in conjunction with Louisiana Real Estate Broker Paul A. Lynn, CCIM. Over 400 people were in attendance at the Mercedes-Benz Superdome. The properties sold are a continuation of the sale of a portfolio of thousands of properties owned by NORA.

"This auction, as well as our previous successful auctions, is a continuation of our efforts to place these properties back into commerce. These auctions serve as another tool in the on-going effort of rebuilding neighborhoods in New Orleans," said Jeff Hebert, Executive Director of NORA.

"AmeriBid is pleased to be able to continue to work with NORA on these Absolute Auction programs. These auction events are a very effective and transparent process that assists in finding today's true market value for this diverse group of properties," comments Paul A. Lynn, CCIM, Regional Director and LA Real Estate Broker with AmeriBid LLC.

The AmeriBid auction team was again led by Fernando Palacios, AmeriBid LLC Regional Director and Broker in the Mid-Atlantic Region. Hundreds of buyers competed for properties located throughout the city of New Orleans; this auction included a higher number of structures that seemed to be in high demand for redevelopment. Auction participants included first time home owners, young buyers wishing to obtain their "dream home," developers, investors and many others interested in the ongoing rebuilding of New Orleans. Buyers will be required to build or rehabilitate the property within 365 days, in accordance with all required building ordinances and codes. An on-line auction will take place in early 2014 and the next live auction is planned for March 2014. To be notified of future NORA auction events, sign up for our Auction Alerts or visit www.noraworks.org.

About AmeriBid

AmeriBid LLC is the premier global real estate auction leader specializing in the sale of commercial and residential real estate, land properties and other assets for lenders, servicers, receivers, bankruptcy attorneys, estates, private owners, investment companies and local, state and federal government agencies.

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CONTACT: Media Contact Michelle Baker 877.895.7077 michellebaker@ameribid.com

Source: AmeriBid