Dubbed as the first bank-owned online real estate auction in this New Mexico town, FRE.com looks for a buyer for the Hillside Plaza, a multi-tenant retail center

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Alamogordo, NM – Located along the busy Tenth Street corridor in downtown Alamogordo sits an investment opportunity summoning buyers with its unique selling method – an online auction. As the first ever online auction of property in this small New Mexico town, Hillside Plaza is currently owned by a bank that is very motivated to sell it as evident by the minimum bid.

“It may seem a bit over the top to conduct an online auction for a property located in a small town such as Alamogordo, but there are plenty of buyers out there, nationally and internationally, who are looking for any good real estate deal”, states LFC’s Director of Operations Ryan Devin. “Why limit the pool of potential buyers to just those within a small radius? At the end of the day the bank wants a buyer, whether they are from Alamogordo, New Mexico or Florida, or even Canada – it’s a matter of concluding the auction with a successful sale. ”

As an alternative choice to a traditional real estate sale, online auctions can be particularly effective for sellers wanting to dispose of their property but are not willing to chase the market. An auction creates a trading platform that brings the buyer and seller together in such a way that fair market value is realized

The bank-owned building is approximately 32,000 square feet and on over 1.63 acres of land. It carries a C-3 business zoning and is partially occupied with some leases in place through 2014. It is centrally located and has great street frontage and accessibility. The minimum bid is $350,000 with all bids to be submitted by February 9th.

Alamogordo is located in the southern portion of New Mexico, approximately 70 miles from Las Cruces.

As with all of auctions on the Freedom Realty Exchange website, property research, due diligence and even bidding are conducted completely online, removing the inconvenience and unwanted pressure that comes with a traditional outcry auction. Interested buyers can access property documents and auction details by visiting FRE.com/115R2.

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The Freedom Realty Exchange®

The Freedom Realty Exchange is owned and managed by LFC Internet Marketing, Inc., a member of the LFC Group of Companies. For more than 30 years, the LFC Group of Companies has successfully auction marketed thousands of commercial, industrial, land and residential properties, with sales in excess of $5 billion; and for the last seven years, we have conducted real estate auctions exclusively online. We have successfully served numerous Fortune 500 companies, real estate developers, investors, financial institutions, government agencies and real estate brokerages, providing a complete suite of real estate disposition strategies and auction marketing programs for commercial and residential property and mortgage notes.

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Given everyone’s hectic schedules during the holidays, the bid deadline was scheduled for February 9th at 5pm MST in order to allow all of the interested parties enough time to perform their due diligence. Though February 9th may seem far off, the clock is ticking and this property must sell. The bank has set an aggressive minimum bid of $350,000 so you better hurry so you don’t miss out on the opportunity to pick up an income producing property at a deeply discounted price.

Check out all of the online auction details, see more photos, and download all of the property documents at FRE.com.

This building has an 8,000 SF footprint and sits on just under half an acre of land. The structure has over 9,498 SF of leasable space on the interior including over 4,800 SF of warehouse space and 2,900 SF of office build-out and storage. A portion of the building has been transformed into the “manager’s quarters” encompassing high-end finishes, making this the perfect place to entertain guests or clients.

The auction’s bid deadline is scheduled for March 1st at 5:00pm PST so don’t wait to check out the online auction at FRE.com. All of the auction documents, photos, and available property information has been posted for interested parties to do their due diligence.

In the suburbs about 25 miles outside of Atlanta sit two promising residential developments with an opportunity that many homebuilders, developers and real estate investors are finding difficult to ignore. The two groups of finished lots on the Freedom Realty Exchange (FRE.com) auction website are priced for a quick sale through a fair and competitive online bidding process.

As an alternative choice to a traditional real estate sale, online auctions can be particularly effective for sellers wanting to dispose of their property but are not willing to chase the market. An auction creates a trading platform that brings the buyer and seller together in such a way that fair market value is realized.

“Land can be a tough one to sell in this market, but when an investment opportunity such as this one comes around, it’s difficult for any investor to not get involved”, states LFC’s Director of Operations Ryan Devin. “This is the type of auction that most buyers are waiting for and the response has been overwhelmingly positive.”

This real estate auction features finished residential lots in the following communities:

• Bear Creek subdivision in Douglasville offers 59 lots with an additional 268 acres of raw land for future development. This community presents plenty of development opportunity as Phase 1 and Phase 2 of the master-planned community have been developed and there is an existing golf course, although not currently in operation. Starting bid for this auction is $475,000.
•  West Village at St. Andrews in Winston features 33 fully developed lots with over half of the lots overlooking the golf course. St Andrews is a golf and country club outside of the Dog River Basin giving residents access to the 18-hole golf course, clubhouse, swimming pool and pool house, and the tennis courts. The minimum bid for this auction is $132,000, that’s only $4,000 per lot.

It’s evident by the minimum bids that the seller is very motivated to sell, and although the fair market value of the property today is unknown, buyers are given the ability to set the sale price by bidding and validating just what the market is willing to pay.

As with all of auctions on the Freedom Realty Exchange website, property research, due diligence and even bidding are conducted completely online, removing the inconvenience and unwanted pressure that comes with a traditional outcry auction. Interested buyers can access property documents and auction details by visiting FRE.com/114R3. Bids must be submitted by January 26th.

As an alternative choice to a traditional real estate sale, online auctions can be especially effective for sellers wanting to dispose of their property but are not willing to chase the market. An auction creates a trading platform that brings the buyer and seller together in such a way that depth of market emerges and fair market value is realized.

“With properties similar to this RV Park, an online auction appeals to buyers, both local and out of state, because of its convenience and the fair and open bidding conditions”, said LFC’s Director of Operations Ryan Devin. “It also gives the seller a way to gauge market demand and make an informed decision based upon the bids received.”

Located about 40 miles north of Bakersfield along Interstate 5 and Paso Robles Highway 46 is the Lost Hills RV Park, a welcomed pit stop for road warriors and the newest auction on the Lost Hills RV Park sits on over 9 acres with 80 pads and the following amenities:

• Swimming pool
• Convenience and supply store
•  Playground
• Dog walk area
• Horse motel
• Deluxe showers
• Laundry facilities

As with all of the auctions on the Freedom Realty Exchange website, property research, due diligence and even bidding are conducted completely online, removing the need to spend hours in a crowded ballroom with all the unwanted pressure and intimidation that comes with a traditional outcry auction. Interested buyers can view property and auction documents by visiting FRE.com/112L1. Bids must be submitted by December 1st.

Each exam room is fully equipped with a sink and storage cabinets designed for medical office use. The suits are complete with several consultation rooms, a records room and break room.

The Suggested Value for this property is posted at $1,110,000 but the seller is highly motivated and set an aggressive Minimum Bid of $595,000. The seller also set an aggressive Bid Deadline for October 13th at 5:00 PM so refer to the offering memorandum for details, floor plans, demographics and other information on the auction profile page at www.FRE.com/3167L1.

The property consists of 5.33± Acres of level Seasonal Resort-Commercial zoned land improved with Sixty-Nine (69) RV Pad Sites. Of the Sixty-Nine (69) pad sites, fourteen (14) are ‘pull through’ sites which do not require the RV owner to back into the pad site. Additional improvements include an internal brick paved roadway, a two-story 5,528± SF common area building consisting of three condominium units, management office, laundry facility, fitness facility, and men’s and women’s restroom facilities. The site also contains a heated pool, as well as perimeter fencing with gated access. All utilities are underground and each site offers 50 and 30 amp electrical service along with water and sewer hookups.

The Seller has set an aggressive  Minimum Bid of just $1,799,000  and fast approaching Bid Deadline of October 13th in efforts to make this a date certain for sale. They have also made all of the due diligence materials available for download on the auction webpage so you should check out the online auction at FRE.com today.

Choosing this alternative and seemingly progressive marketing strategy could help the bank sell properties that have proven resistant to traditional sales methods.

“We had considered other sales approaches but chose the online auction format because it is perfectly suited for such a wide variety of real estate offerings across several counties and in two states,” stated Robert M. B. Draper, Senior Vice President for Columbia Bank. “It provides one easy, convenient hub for buyers.”

FRE.com, a leading real estate auction platform presents any type of buyer such as builders/developers, savvy or new real estate investors with an incredible opportunity to conveniently purchase property through a transparent, fair and open bidding platform.

“It’s been our experience that with properties such as these, an online auction strikes accord with buyers, both local and out of state,  by providing them equal  opportunity to get a great deal ”, said LFC’s Director of Operations Ryan Devin. “And with the aggressive minimum bids set by the bank, there are definitely deals to be had.

The bank-ordered auction offers a wide variety of real estate, over 20 properties, located throughout several counties in Washington and Oregon, including:

• Ninety-nine (99) finished multi-family development lots adjacent to the Sandpines Golf Course in Florence, Oregon have a minimum bid of $1.4MM – a fraction of the previous asking price of $3.0MM
• 11 subdivision development lots in Rockaway Beach, Oregon with a minimum bid of $99,000 – more than half of the last asking price
• Over 24 acres of residential development land in Renton, WA zoned for single family, multi-family or senior housing has been reduced by over 40% for a minimum bid of just $899,000
• ±22,000 retail center in Spokane, Washington with current tenants was listed at $1.1MM but not has a minimum bid of $599,000
• Restaurant and clubhouse adjacent to the Charbonneau Golf Course in Wilsonville, Oregon has a minimum bid of $299,000 more than 50% below the previous asking price of $700,000
• Residential lot in Pacific Rim Estates in the coastal Oregon town of Lincoln City has a minimum bid of $25,000
• ±33 acre Equestrian Ranch in Enumclaw, WA is asking for a minimum bid of just $399,000.
• Seattle, WA commercial building with an AT&T cell tower lease and income-producing outdoor billboard was on the market for nearly $4.0M now has a minimum bid of $2.5MM
• Small residential lot zoned for a 2-4 plex in Bend Park development in Bend, Oregon is asking for a $5,000 minimum bid
• “Buyers should recognize that the bank is serious about selling these properties as clearly demonstrated by the low minimum bids and the quick timeframe to sell and close escrow,” said Devin

As with all of auctions on the Freedom Realty Exchange website, the research, due diligence and even bidding are conducted completely online, removing the need to spend hours in a crowded ballroom with all the unwanted pressure and intimidation that comes with a traditional outcry auction. Interested buyers can view property documents and auction details by visiting FRE.com/109R2. Bids must be submitted by September 1st and properties must close escrow by September 30th.

Summer time is in full swing and it’s ‘California Dreaming’ for real estate investors looking to purchase REO property in Northern California. North Valley Bank has brought a portfolio containing a suggested value of nearly $13 million in multi-family lots, SFR lots, vacant land parcels, community development land, and office retail condos to online auction at www.FRE.com. Minimum bids can start as low as $125,000 and with properties located in Lake County, Nevada County, Siskiyou County, Sonoma County,  and Tehama County, you’ll be sure to find assets that fit your investment strategy.

Though the portfolio’s properties are located in various parts of northern California, the online auction represents multiple investment opportunities for builders, developers and real estate investors to conveniently purchase bank-owned property through a transparent, fair and open bidding platform. Each auction profile page contains all  of the essential due diligence materials so bidders can view all of property details, photos, auction documents, escrow information, and property specific documents from anywhere in the world.

Check out all of the auction properties at www.FRE.com before the bid deadline of August 11th at 5:00pm PDT.

Related Posts

• Prime Bank-Owned Development Land Available in Online Auction
• 2 Weeks Left in Bank-Owned Auction Portfolio
• Dozens of On-going Online Auctions on LFC.com
• New Auction for Commercial Development Land in San Jose

All bids can be submitted online until the bid deadline of August 4th at 5:00 pm PDT, but this property is sure to go quick with a minimum bid of just $1,200,000 so investors better move quick! To view all of the auction details, documents, photos and auction information, check out the auction profile page at FRE.com.

Here’s a quick property video for you to check out as well:

Bank Ordered Auction from LFC on Vimeo.

Related Links

• 23,000SF Mixed-Use Building in Online REO Auction
• Prime Bank-Owned Development Land Available in Online Auction
• Online Auction for Bank-Owned Luxury Home Sites in Reno Enters Final Week
• Another LFC Property Moved to Online Bidding!
• LAST CALL® Extends Bidding Again