LOS ANGELES - March 25, 2009 - Zetabid, the pioneering firm redefining home auctions in the U.S., today announced it will sell approximately 200 bank-owned homes in a two-day auction in Orlando on Thursday, April 2 and in Miami on Saturday, April 4, 2009.
In Orlando, Zetabid is auctioning approximately 100 single-family homes, multi-family homes and condominiums in Central Florida ranging from $5,000 to $102,000. The largest concentration of homes is in Orlando, where more than 20 of the properties are located. The auction will be held at The Peabody Orlando Hotel, 9801 International Drive in Orlando. Registration starts at 4:30 p.m. and bidding begins at 6:00 p.m.
In Miami, Zetabid is auctioning approximately 100 single-family homes, multi-family homes, townhouses and condominiums in South Florida. Starting bids for these properties range from $6,000 to $293,000. The auction will be held at the Miami Beach Convention Center at 1901 Convention Center Drive in Miami Beach. Registration starts at 8:30 a.m. and bidding begins at 10 a.m.
“Zetabid’s auctions are outstanding opportunities for investors, as well as first-time home buyers and trade-up buyers, to pick up terrific bargains,” said Bob Bellack, Chairman of Zetabid. “ The market for residential properties under $100,000 has heated up considerably in recent months because investors can now generate positive cash flow when they couldn’t just a year ago. There are a number of tremendous deals for all types of buyers.”
For first-time homebuyers, the federal government recently made it even more compelling to purchase a home. Following the passage of the American Recovery and Reinvestment Act of 2009, the federal government will offer a tax credit of up to $8,000 to qualifying taxpayers who buy a home this year. For more information, visit http://www.treas.gov/press/releases/tg39.htm.
At Zetabid’s recent auctions in Arizona and California, homes that went into contract at the auction were typically 25% to 40% below the listed retail price. More than 4,000 people have participated in nine separate Zetabid auctions in the past four months.
For the Florida auctions, prospective buyers can bid in person at the designated location or via Zetabid’s worldwide Internet simulcast. Buyers can also bring their real estate agent to the auction event. Additionally, buyers can place an offer on a property before the auction by using the ‘Buy It Now’ form at www.zetabid.com.
Zetabid encourages buyers to view homes with a listing agent during its open house weekend, March 28-29 from noon to 4 p.m., or by appointment. Zetabid urges prospective buyers to carefully inspect properties before bidding.