Property Grunt

Tuesday, May 19, 2009

The Goldmine Part 2

So it begins-

Vampire Hunter D

Got another email from Kelly Kreth regarding Bid on the City's first auction on May 17th.

Here is a quick rundown of the results.

1. There were 5 properties on the auction block.

2. A total of 37 bids.

3. Only one property did not sell.

4. Overall it was an impressive debut.

I plan on posting more information in the near future.

As I stated in my entry The Goldmine, the potential in the real estate auction model can't be ignored. Even if Bid on the City fails, the cat is out of the bag. There will be others to take its place.

Kelly has informed me that the next auction is June 12th which will feature 4 residential properties and include a commercial one.