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More Online Property Auctions This Week In New Orleans

New Orleans agencies are conducting online auctions to sell off property. Two University of New Orleans experts are saying the whole process should be ramped up.

The city of New Orleans just finished its fifth online auction -- most recently for 49 properties.  Thirty-three bidders won 40 auctions, with a total price of $1.1 million.

Michelle Thompson is associate professor of planning and urban studies at UNO, and is a former real estate appraiser. She says the process is a great idea to clear blight and get property back in commerce -- and the city should be more aggressive.

“If you can bring out 500 to 1,000 properties and they’re competitively priced with the appropriate appraisals, it actually might encourage people to purchase properties," she said. "It might actually help stabilize neighborhoods. The market’s hot. So get ‘em out there. Get ‘em sold.”  

Robert Penick is interim director of the UNO Institute of Economic Development and Real Estate Research. He says getting tax-delinquent properties back in the housing stock is critical – especially for workers expected at the VA hospital that’s under construction.

This week, the New Orleans Redevelopment Authority is holding its first online auction, starting today and running through tomorrow. There are 64 single-family homes, double shotguns and vacant lots on the list, with bids starting at $2,500.  

Eileen is a news reporter and producer for WWNO. She researches, reports and produces the local daily news items. Eileen relocated to New Orleans in 2008 after working as a writer and producer with the Associated Press in Washington, D.C. for seven years.

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