Builder Close-Out -- Waterfront Luxury Condos to Be Auctioned at Discounted Prices on Saturday, Jan. 23, 2010

ENGLEWOOD, FL--(Marketwire - January 18, 2010) - Bidders have a rare opportunity to snag a waterfront condo for below market prices at an upcoming real estate auction.

Eight units at the bay-front Sunrise Pointe Condominiums on Manasota Key will be auctioned on Jan. 23, 2010. Interested homebuyers can bid at the live auction event being held at the Gulf View Grill located at 2095 North Beach Road in Englewood, right next door to the property, or via online webcast at www.GAHomeAuctions.com.

"Buyers will have the opportunity to purchase homes for a substantial discount to the developer's previous pricing due to the distressed real estate market," said Dan Will, president of Great American Home Auctions. "The condos are expected to be auctioned for a fraction of their original list prices and far below their original cost to build; this will allow home buyers to realize a great value by investing in a new, never-lived-in-before luxury property in a great location, at substantially lower prices than ever available before."

The beautifully-appointed 2 and 3 bedroom condos including two fully-furnished model units are located at 2225 and 2245 North Beach Road. Each condo features views of the Gulf Coast, with a public beach directly across the street, or views of the Intercoastal Bay area to its rear. Smartly designed floor plans, along with the outdoor attractions and first-rate amenities including high ceilings with crown molding, full kitchen appliances, multiple balconies, private garages, on-site heated pool and spa, and a private dock, are among the attractive features of this property.

There are four different floor plans that vary in size from 1,846 to 2,512 sq.ft. These units were originally valued at between $737,200 and $1,004,750. The opening bids begin as low as $124,900. Great American is offering a 3% co-Brokers fee to brokers who represent a winning buyer at the sale. A 5% Buyers premium applies to all winning bids.

Great American Home Auctions will host open houses on January 9 and 10; and also January 16 and 17 from 11 a.m. to 4 p.m. The property may also be viewed online and by appointment. Interested buyers can register now at www.GAHomeAuctions.com. For more information, please call 800-748-1261.

Great American Home Auctions, LLC; Licensed Real Estate Broker CQ1034293 | Auction conducted by Mark Weitz; Auctioneer License #2187702.

About Great American Home Auctions

Great American Group is one of the nation's leading auction, liquidation and asset management firms. Founded in 1973, it has conducted thousands of retail and industrial auctions around the country, as well as abroad, for companies ranging from Boeing, Kmart, Mervyns, Office Max, Apple Computers and most recently Circuit City. Great American Group has successfully completed over $55 billion in transactions over its 35 year history. For more information, visit www.GAHomeAuctions.com.

About Great American Group

Successfully managing assets is essential in any business environment. For more than 35 years, Great American Group has partnered with businesses across the globe in effectively appraising and divesting assets with one main objective: to maximize value. Visit www.greatamerican.com for more information.

Contact Information: CONTACT: Audrey Doherty (619) 236-8397