A — July 26 - August 15, 2013 — Mid Atlantic Real Estate Journal www.marejournal.com M id A tlantic R eal E state J ournal A uctions P Some of Philadelphia’s most derelict properties bring in more than expected Philadelphia Housing Authority raises more than $2 million at Max Spann property auction up and rent it to a low-income family like the family she grew up in. HILADELPHIA, PA — The Philadelphia HousingAuthority will
“Every auction produces a great human interest story. Just seeing how elated Ms. Simms was to buy a property with such sentimental value for her and her desire to create an affordable home for someone else is extremely heartwarm- ing for all of us who worked on the auction,” said Dann. PHA has hundreds of long- term vacant parcels remaining and it is likely they will call on Max Spann to conduct another auction, perhaps as soon as later this year. Max Spann Real Estate and Auction Company is America’s premier real estate auction and advisory company and has been an industry leader in accelerated marketing and consulting services for more than 50 years. The company’s AcceleratedAuctionMarketing Program creates urgency in the marketplace and allows sellers to control the terms and the timing of the sale of their real estate assets. n
soon have another $2 mil- lion, thanks to an auction of 189 scattered site properties hosted by Max Spann Real Estate and Auction Com- pany . Every available property was purchased for prices rang- ing from $1,000 to $170,000 during a fast-paced four-hours- plus event. These were homes and lots that had been vacant and unusable for many years. PHA determined it made the most sense to allow private owners to buy the parcels and put them back into productive use. “Max did an amazing job for us,” said PHA president and CEO Kelvin Jeremiah . “We knew from their performance at our previous two auctions that they have a wonderful ability to generate a crowd and to bring in the highest possible prices for our properties.” The properties auctioned were some of the most derelict in the city of Philadelphia.
Philadelphia Housing Authority CEO Kelvin Jeremiah and Max Spann, Sr. greet before the PHA auction. “We know the key to serv- ing our client is ratcheting up the level of excitement and competition and generating maximum sales prices. It’s es- pecially fulfilling in cases like this one where we are raising money for a public agency that serves struggling families,” said company president Max Spann, Jr. The auction company han- dled every detail of the ef- fort including a substantial marketing campaign, news
Max Spann’s Earle Steeves encourages bidders during the PHA auction.
media outreach, informational sessions, renting a large facil- ity and of course staging the auction and processing buy- ers through the paperwork process. “We love what we do and I think it shows in how we con- duct our business. We execute a precise plan and the results speak for themselves. It’s grati- fying that PHA brought us back for a third auction based
on our results at the previous two,” said Max Spann COO Bob Dann . Among the buyers was one with a special motivation. La- verne Simms had grown up in a PHA scattered site home on North Etting Street in North Philadelphia. When she saw her childhood home on the auction list she decided to come buy it. She won the bidding at $9,000 and now plans to fix it
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