New Construction Auction: Builders to Auction off Hundreds of New Homes

by Alex Stenback on January 9, 2008

And speaking of New Construction. On the 26th of January, roughly 200 newly built homes will be placed on the auction block at the Minneapolis Convention Center [PiPress]

A quick perusal of the homes offered can give you somes clues about where new construction is struggling the most – many of the properties are out in the (relative) sticks: Otsego, Montrose, Shakopee, St. Michael, Monticello, Hudson, WI, all are represented.

Also, most properties have a reserve price set (which we consider a fake auction) but more than a few are absolute, highest bidder wins auctions, so bring your checkbook.

Here’s a link to the list (scroll down a bit.) We got sucked in and wasted 30 minutes.

{ 3 comments… read them below or add one }

mike January 10, 2008 at 9:18 pm

Is your real name
ALEKSI? Do you live on 52nd?

Mike January 10, 2008 at 9:27 pm

What are you doing for the Real Estate market? JEALOUSY gets you nowhere dude I actually think that its great and thousands of people agree – stop hitting the sauce and get a clue about the market. The houses at 30-60% off and ABSOLUTE – you sound like an idiot and you are making no fans by not saying yeah to people that are trying to help the real estate market. I bet you wish you were the lender. I just looked up the facts and over 56 BILLION dollars were sold at auction just in 2006 – so get educated – you cannot buy a house than that is why you wasted a half an hour and this blog sucks – its only an advertisement for yourself.

Nate January 11, 2008 at 3:32 pm

Anybody planning on going to this?

With houses spread around Minnesota, it won’t be indicative of any specific market. Still curious to see what people end up bidding, since I recall a lot of investor types at the last minneapolis auction.

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