Monday, May 5, 2008

Gulf Shores real estate

By KATHY JUMPER
Real Estate Editor

GULF SHORES, Ala. A driving rainstorm didn't stop bidders from buying 44 condominium units for more than $13 million at an absolute auction that attracted more than 1,000 people to the Crystal Tower condo complex Saturday afternoon.

Amid wall-to-wall umbrellas, more than 500 registered bidders from 20 states came to look for a deal or at least catch a glimpse of the condo-buying fever evident on West Beach in Baldwin County.

The lowest unit sale prices were $275,000 and the highest purchase price was $350,000, which included the 10 percent buyer's premium added to the bid amount, according to the National Auction Co. based in Gadsden.

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