Mobile foreclosure auction nets almost $3 million - al.com

Mobile foreclosure auction nets almost $3 million - al.com: "Twenty-six bank-owned properties, from condominium units on Dauphin Island to a single-family house in Bay Minette, sold for a total of $2,903,750 in less than two hours at a live auction Tuesday at the Mobile Civic Center.

An estimated 250 people attended, while 310 bidders registered, including people at the site and online, according to Rick Weinberg of REDC, a national auction company based in Irvine, Calif.

Raymond Turner of Prattville bought a two-bedroom, two-bath condo unit on West Beach Boulevard in Gulf Shores for $125,000 cash. 'Our friend has one in front of us and we wanted it as a vacation home,' he said of the unit, which is not on the Gulf."