NEW ORLEANS, April 8, 2014 (GLOBE NEWSWIRE) -- On Saturday, March 29, 2014, the New Orleans Redevelopment Authority (NORA) held another successful sale of 135+/- structures and vacant 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 600 people were in attendance at the New Orleans Ernest N. Morial Convention Center. This is the 4th auction event led by AmeriBid for the sale of properties owned by NORA.
"These auctions are part of our continuing effort to place properties back into commerce throughout the City. The auctions serve as another tool in the on-going effort of rebuilding our neighborhoods," said Jeff Hebert, Executive Director of NORA.
"AmeriBid is pleased to continue our partnership with NORA through these Absolute Auction programs; these auction events are very effective and the transparent process 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 and award winning auctioneers Whitey Mason and Steven Mathis. Hundreds of buyers competed for properties located throughout New Orleans; this auction included over 50 structures that seemed to be in high demand for redevelopment. There was also great strength shown for development lots, one selling for $285,000.00. Auction participants included first time home owners, young buyers wishing to obtain their "dream home," developers, investors and many others interested in the ongoing efforts of rebuilding New Orleans. Buyers are required to build or rehabilitate the properties within 365 days, in accordance with all required building ordinances and codes. Additional auctions are planned throughout 2014. To be notified of future NORA auction events, register at www.ameribid.com or www.noraworks.org.
AmeriBid 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. To be notified of future auctions, sign up for email alerts here.
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