Want to try to get a good deal on some prime Panama City Beach real estate Friday may be your day.
According to the Panama City News Herald:
One of the largest land holdings in Panama City Beach history goes on the auction block later this week as the estate of the late Charles Faircloth offers nearly a quarter-billion dollars worth of prime gulf beachfront land to the highest bidders.
Faircloth, who died Oct. 6, spent decades buying and selling Beach property and left behind a massive inventory of undeveloped land and finished condos and homes along the 22-mile beachfront.
“This will be the largest auction in the history of the area,” said project manager Thania Krafthefer of Roebuck Auctions Inc., a nationwide firm headquartered in Memphis, Tenn., with a regional office in Destin. “There is extraordinary, phenomenal interest in this property.”
The auction firm has announced more than 150 separate Faircloth properties in Bay County will be offered for sale Friday March 14, 2008. The auction is scheduled to take place at the Bay Point Marriott Gulf Resort beginning at noon.
Krafthefer said her firm was told several months ago the holdings have a combined market value in the neighborhood of $250 million, although the resort condo market has experienced falling prices and appraised values in recent years.
Good luck!
Jerry
Panama City Beach Condos for Rent
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