Florida Real Estate Market

Overseas Bidders Play Big Role in Central Florida Real Estate Auctions

ORLANDO, Fla. - Overseas bidders---including residents of Dubai, Sweden, the U.K. and Puerto Rico---played a big role in two recent Central Florida real estate auctions.

Worldwide Auction Realty Services auctioned off all 27 luxury condominiums at Artisan Park in Celebration for more than $6 million.

The week before, Worldwide Auction Realty Services auctioned off all 10 available homes at JB Ranch, an active adult community in Ocala.

More than 200 bidders were present at the Artisan Park auction alone. Nearly 25 bidders from other countries and the U.S. participated via the Internet and long-distance telephone. The first online sale of the day went to a buyer from Sweden.

Substantially devalued real estate assets in the U.S. are attracting buyers worldwide, said Lori Chipps, auctioneer with Worldwide Auction Realty Services.

“For affluent residents of other countries, American real estate represents one of the strongest investments available worldwide,” Chipps said. “For American buyers, Florida’s historic position as the nation’s vacation and retirement mecca are a huge draw,” she said.

“Foreign exchange rates are favorable, interest rates are still low and for many people, Florida real estate is a premium buy,” Chipps explained.

Both the Artisan Park Condominiums and JB Ranch were represented by Stirling Sotheby’s International Realty in Orlando.

For more information please contact:
Jon or Lori Chipps, World Wide Auction Realty Services 800.327.1048;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407.644.4142