Contact: Linda Staples
Phone: (804) 354-9090
e-mail: lstaples@tranzon.com

FOR IMMEDIATE RELEASE

Deals were made on Carolina Beach property Friday

It was a battle of the bidders in Carolina Beach Friday.  A large crowd gathered for a public auction of several pieces of prime ocean from real estate.

The private investor who bought the properties before the real estate slump, is now in bankruptcy, so the lots are up for grabs.

There were 12 offerings available and investors had the option to bid on individual options or a combination, for well below market value.  Among the land in Friday's auction; hotels, homes, and parking lots.  Starting bids ranged from $50,000 to $500,000 and increased as bidders went back and forth.  It was a great opportunity for investors.

"This is an opportunity to pick up some property on the island so we're hoping we can take advantage of that," said investor Jason Smith.

In the end there were multiple buyers, and the total amount of property sold went for about four and a half million dollars.

Article submitted by WWAY on 08/28/2009 - 5:50 PM  wwaytv3.com