Final auction tally: $45.9M

An auction featuring 1,516 bank-owned foreclosed properties generated $45.9 million in sales over a six-day period, with stops in eight Florida cities. That total is nearly double the amount of business generated at the previous record-holder for this year, which took place in Arizona and Southern California, according to Real Estate Disposition LLC.

REDC has been at the helm of several similarly busy auction tours this year in the state of Florida. In April, the company auctioned off $24 million in Florida properties, after generating $22.3 million in business in January.

The claims offered by REDC CEO Jeff Frieden regarding the impact of his company's auction tours are especially powerful, given all the rhetoric over fiscal stimulus and economic development.