A crowd of more than 200 jammed into the hotel meeting room while another 100 participated online Tuesday as John Dixon & Associates sold 50 bank-owned properties at auction for a total of $5.8 million. 

"For a long time, we were in a market where supply exceeded demand for investment properties, but now we're seeing that turned on its head. Supply is running out, because the banks have sold most of the properties they acquired in the wake of the financial crisis. Meanwhile, the economy continues to improve, and there's more demand for commercial properties, homes, subdivision lots and land," said John Dixon, president of the auction company. 

"People know that the opportunities for buying bank-owned properties at auction are waning, and they don't want to get left out. Time's literally running out, because the banks have sold most of the inventories they acquired in the wake of the financial crisis. There's just not that much more to sell," said Dixon. 

Most of the real estate was located in central and north Georgia, with other properties in Alabama and North Carolina. 

The John Dixon & Associates team now turns its focus to upcoming auctions in November. "We're probably going to end up with more than 250 properties in the six days of auctions already scheduled for November. We'll have events in Atlanta, Pensacola, McDonough, Americus and Brunswick," said Dixon.

Individuals seeking additional information may visit www.johndixon.com or call 800-479-1763.