Seventeen07 Capitol Hill condos to be auctioned
Apparently the sales team for Seventeen07 condos on Capitol Hill (featured on
cheap$#!%condos) has given up on traditional methods. 17 units in the complex are
set to be auctioned off October 19.
Their marketing splashes the
"Minimum Bids from $95,000" all over everywhere, but only the teensy little <400 sqft. studios are starting that low. For a 1 bed 1 bath at 520-665 sqft they're asking $195,000 minimum, and $215,000 for the 2/1 ~800 sqft ones.
I'm actually considering checking the auction out, just to see if these things get any bids.
Looking at
the public records for some of the few units that have sold, their starting bid for the 1 bed / 1 bath units isn't much lower than what they successfully sold units for earlier this year.
3-08: 1/1 471 sqft
sold for $220k4-08: 1/1 471 sqft
sold for $230kThe 2-bedroom units have a decent markdown, but they also appear to be losing value
fast.
4-08: 2/1 817 sqft
sold for $385k9-08: 2/1 817 sqft
sold for $300k
