Matt J
SWGB
Posted: 6:07 PM Jun 26, 2008
Last Updated: 10:47 PM Jun 26, 2008
Reporter: Bobeth Yates
Email Address: bobeth.yates@wjhg.com
0 comments
It was billed as the opportunity of a lifetime to get a great deal on a luxury bay-front condominium. Twenty five unsold units located in the Marina Landing Project at the foot of the Hathaway Bridge went up for auction today. In the end only four bidders got one of the units.
More than 560 people with 121 register bidders from seven different states came out for one purpose.
"I'm just looking for a good buy and a great piece of property," auction attendee Tracy Bennett said.
The owners of 54 units at the Marina Landing Condominiums were ready to sell. Twenty five would be going on the auction block; the other 29 would be sold traditionally. Albert McCall picked up one of the condos originally listed at $485,000.
"I just bought a two bedroom unit for 325,000; it's a great deal and we love it down here."
But McCall was one of the few who ended up being a lucky bidder.
Only four of the properties was auctioned off, and the deals were so good the owners had to shut the event down. The auction began with the sales of a two bedroom and a three bedroom unit. After that, the auctioneers told the crowd the bids need to be higher.
Two more units were sold; then the auction was suspended.
"I was very impressed with the people that were here today, but a little disappointed in the end. I was ready to purchase one today," auction attendee Melanie Johnson said.
The four condos went from $325,000 to $450,000, more than $100,000 below the list price.
"We sold as many as we could for the price that our sellers found acceptable," said William Bone.
As for the 21 units that were not auctioned off, they'll go back on the market to be sold the old fashioned way. Besides the four auctioned units, owners sold five Marina Landing condos for $580,000 each.
There's video too, I haven't watched what was posted, but one of the buyers seemed a little enebriated. Just my opinion.
Last Updated: 10:47 PM Jun 26, 2008
Reporter: Bobeth Yates
Email Address: bobeth.yates@wjhg.com
0 comments It was billed as the opportunity of a lifetime to get a great deal on a luxury bay-front condominium. Twenty five unsold units located in the Marina Landing Project at the foot of the Hathaway Bridge went up for auction today. In the end only four bidders got one of the units.
Condo Auction Sells Only 4 UnitsMore than 560 people with 121 register bidders from seven different states came out for one purpose.
"I'm just looking for a good buy and a great piece of property," auction attendee Tracy Bennett said.
The owners of 54 units at the Marina Landing Condominiums were ready to sell. Twenty five would be going on the auction block; the other 29 would be sold traditionally. Albert McCall picked up one of the condos originally listed at $485,000.
"I just bought a two bedroom unit for 325,000; it's a great deal and we love it down here."
But McCall was one of the few who ended up being a lucky bidder.
Only four of the properties was auctioned off, and the deals were so good the owners had to shut the event down. The auction began with the sales of a two bedroom and a three bedroom unit. After that, the auctioneers told the crowd the bids need to be higher.
Two more units were sold; then the auction was suspended.
"I was very impressed with the people that were here today, but a little disappointed in the end. I was ready to purchase one today," auction attendee Melanie Johnson said.
The four condos went from $325,000 to $450,000, more than $100,000 below the list price.
"We sold as many as we could for the price that our sellers found acceptable," said William Bone.
As for the 21 units that were not auctioned off, they'll go back on the market to be sold the old fashioned way. Besides the four auctioned units, owners sold five Marina Landing condos for $580,000 each.
There's video too, I haven't watched what was posted, but one of the buyers seemed a little enebriated. Just my opinion.
