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Bag a Florida bargain at auction - 17 April 2008

Following the success of British buyers at the live ‘Absolute Auction’ held in Florida for two properties on brand new developments, Stirling Sotheby’s International Realty, in association with The British Homes Group (BHG), have announced another round of auctions to take place on the 19th April.

The highest bidder for the properties in the sale will get the deal, no matter how low that bid is – and the last auction resulted in successful bids for two British buyers who got a great property deal even without the help of the favourable exchange rate. One buyer got a three-bedroom apartment in Naples for £100,000, just half of the list price of $399,000 (£200,000), while another Brit bought a three-bedroom condo in New Smyrna for £135,000.

This auction will be taking place on 19th April, starting at 11am, and will be for 25 townhouses at The Residences development at Turnbull Bay in New Smyrna Beach on Florida’s east coast. All of the two- and three-bedroom townhouses will be sold to the highest bidder either individually, or as a complete inventory.

Potential buyers must register online to take part in the live auction at www.stirlingsir.com/auctions/preview.htm, or can call 0800 0518 893 to participate.

Virginia Cowie, owner and managing director of BHG says: “This dramatic move by top Florida developers is a stark indication of a desperate sellers’ market and therefore how strong the buyers’ market is for Florida property. These are certainly quality developments in great locations, so with the Euro’s record high against the US Dollar, and Sterling’s 26-year high against the Dollar, the British property investor has a great opportunity to take advantage of these highly motivated sellers in the USA. If you’re looking for a well-priced villa or apartment, this is probably the ideal time to get one.”

Indications are that the property market in Florida is about to hit its low point in the next few months, and then begin a long, steady climb back up, according to the latest quarterly report from the University of Central Florida.

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