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CHARLOTTE — At the Charlotte Convention Center, homes were being sold to the highest bidder.

The Real Estate Disposition LLC, also known as REDC, was back in town auctioning foreclosures from North and South Carolina. 80 foreclosures were up for grabs, and on the inventory list was a home on Providence Road, valued at $1.16 million. It sold to an online bidder for $425,000. Those buying homes at auctions are advised to do their homework before bidding on property.

As the bidding continues, investors are strategic about getting the best deal, hoping each investment yields positive returns. One of the properties on the list went to Brady Ervin.

"I purchased it for a fraction of the price," said Ervin.

Ervin bid on a home in Charlotte's historic Wilmore neighborhood. Nestled amongst well manicured lawns, his new property is a bit of an eye sore with auction signs prominently displayed in the front yard. As an investor, Ervin knows it has a lot of potential. Valued at $116,00, Ervin paid $57,500 for it.

"I've probably bought six or seven homes," said Ervin. "This is the fastest I've bought a home. I was in here for 30 or 45 minutes and walked out with signed papers."

Jeff Corum, REDC President, said despite the number of foreclosed homes on the auction block, the Carolina's real estate market is better than other states.

"You see less expensive starter homes available for folks that come in great deals," said Corum of the market trends. "You are starting to see higher end homes also coming to market."

According to the North Carolina Realtors Association existing home sales were up in June when compared to the previous year. The Wilmington and Triad experienced some of the states biggest growth.