NEW ORLEANS, Nov. 1, 2012 (GLOBE NEWSWIRE) -- The New Orleans Redevelopment Authority (NORA) sold 132 homes and lots in one of its largest auctions held on Saturday, October 27. Over 500 people were in attendance at the Ernest N. Morial Convention Center. Sales were in excess of $6.6 million. National Residential Auctioneers, LLC in conjunction with AmeriBid LLC and Paul A. Lynn, CCIM, Louisiana Real Estate broker, were the auctioneers.
"The auction was a great success; we were extremely pleased with the turn out. We look forward to returning all 132 properties back into commerce," said Jeff Hebert, Executive Director of NORA. "The winning bids at the auction exceeded our expectations."
"We are proud to work with NORA in getting these properties back into the hands of the community," said Paul Lynn, CCIM, Regional Director and Broker, National Residential Auctioneers, LLC and AmeriBid LLC.
Buyers competed for properties located throughout the city of New Orleans. Winning bids ranged from $2,000 to $200,000. Auction participants included first time home owners, young buyers wanting to have their "dream home", developers and investors interested in the rebuilding of New Orleans. Buyers will be required to build or rehabilitate the purchased property within 365 days in accordance with all required building ordinances and codes. To be notified of future NORA auction events, register at www.natresauctions.com/nora or www.noraworks.org.
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