National Real Estate Auctioneer Returns in 3 Weeks
REDC, the company that holds real estate auctions of distressed properties all over the US, is coming back to DC in a few weeks. On Saturday July 25th at the Grand Hyatt, 248 properties will be auctioned off. The full event details are here.
The exact list of properties to be auctioned is always something of a moving target, with changes to the final list made right up until the day of the auction. But as it stands right now, 39 of the properties are in DC, 89 are in Virginia, 109 are in Maryland, and 11 are in Delaware.
See the full list here.
According to the REDC representative with whom we spoke, a Saturday auction usually includes around 200 properties. So with 248 properties already on the list, it’s possible the auction could be split across two days if many more are added.
This auction is conspicuously smaller than the last time REDC was in the area this past March. Then it sold over 800 properties at five separate auctions in DC, Baltimore, Portsmouth, and Richmond. One wonders if the smaller size of this upcoming auction is the result of a declining amount of foreclosed properties in the DC area.
To get a sense of what the auction might be like, see our previous coverage of REDC’s March event:
- REDC Hosting Housing Auction in DC
- Winning Bids from Yesterday’s Huge Foreclosure Auction in DC
- Foreclosure Auction Offers “Good” Deals, Not Great
This article originally published at http://dc.urbanturf.com/articles/blog/national_real_estate_auctioneer_returns_in_3_weeks/1096
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