Developers Sell Out Property at J.P. King Auction for $1.27 Million

. February 12, 2008

Auburn, AL – February 12, 2008 – Developers sold twelve remaining units at the Tiger Inn East Condominium Development for $1.27 million on Saturday, February 9th.

This J.P. King auction event resulted in a complete sellout for Birmingham developers Mike and Justin Craft. “Even with the slower real estate market, J.P. King was able to accomplish our goals and exceed our expectations through the auction process. We were able to sell out all of our remaining units at prices we were very pleased with,” said Mike Craft.

The development property attracted a standing room only crowd to the Auburn University Hotel, and 27 registered bidders came from as far away as New York. All twelve condominiums sold in under an hour.

“Some say the real estate market is soft, but Saturday’s auction demonstrated that good properties and aggressive marketing produce superior results,” said Craig King, president of J.P. King Auction Company.

J.P. King is the nation’s leading auctioneer of condominiums, luxury properties, and developments, conducting auctions in 49 states and six countries.

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Category: Auction News

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