31 in Bay Minette and a 20- acre parcel and 2-acre site off Interstate 65 on Creole's Dead Lake in the Mobile Tensaw River Delta. There is a June 19 deadline for sealed bids on 5.1 acres on Alabama 59 in Loxley owned by the Burris family, 651 acres with a 16-acre lake on U.S. Majors and Max Childress of SouthPoint Real Estate in Loxley are taking sealed bid offers until June 11 on 29.5 acres north of the toll booth on the Foley Beach Express in Orange Beach Hilltop, 26.7 acres approved for multi-family use or 320 units at Pecan Street and Michigan Avenue in Foley and 27.7 acres approved for an RV Park on Hickory Street in Foley. For information go to Five properties in Bald win County and one in north Mobile will be offered via sealed bids in June, according to Majors. King will accept sealed bids by July 16 on Grand Harbour, a planned but undeveloped 488-unit condo and marina project on 24 acres along Terry Cove in Orange Beach. For information contact Other upcoming auctions this summer include: About 40 acres will be offered at absolute auction while the remainder will have a minimum or reserve bid, Haynes said. "People have 2004 prices stuck in their head and you're not going to get 2004 prices after three years of decline."Īlbert Burney plans to sell at auction a 90-acre former sod farm on Langford Road off Alabama 104 on June 21. "Right now there is more urgency to sell, because of the backlog, than there is to buy, and it adds up to lower prices," said Jason Haynes, a consultant for Albert Burney Auction Co. There were 2,445 condo units for sale in April, according to the Baldwin County Association of Realtors. More auctions are ex pected to reduce the number of condo units and homes on the market. If you have an auction and your property is worth $50,000 and the high bid is $25,000, you've tainted the property." "If you get bad results, it doesn't taint your property. ![]() ![]() Selling property via sealed bids "is a good way to sell in a tough market," said Fletcher Majors of Great Southern Land, based in Wetumpka. The glut of inventory and slow sales at the Gulf over the past couple of years have prompted sellers to try auctions or sealed bids to sell their property, according to auction firms. All will be offered with a minimum bid of 50 percent of the asking price, according to Craig King of J.P. The developer will offer the condo units, along with six homes, 10 homes sites and 27 boat slips at Sunset Bay at Bon Secour, for sale at auction on June 21. The Island Villa units on Plash Island were priced from $459,000 to $699,000, and the buyers of 32 of the units backed out of their purchases, according to Poulos. What is it? Drop prices so drastically or find a creative way to sell." When the country is the way it is and there's a surplus of real estate, then sellers are in a situation where they need to make a decision. ![]() "It's a sign of the times," said Poulos, of Carney Realty in Gulf Shores. Shirlee Poulos had presold all 40 condominium units in Island Villas at Sunset Bay off Baldwin County 6 in Gulf Shores three years ago, but 32 of those units will be offered for sale at auction next month.
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