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Foreclosure Auction Update, Seattle Condo Sells For 58% Less Than Last Market Sale

September 26, 2011 By Jeff Reynolds 1 Comment

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Remember these two units going to auction last Friday?  I wanted to share the results.

Unit #1204 at 2200 Westlake:  Sold for $1 over minimum bid.  For those of your unfamiliar with the auctions.  That means that only one investor was bidding on the unit and acquired it for just $1 more then what the bank was asking.  What a win.  It sold for $265,501.  That is a 58% reduction from its last market sale in 2007! That is just $274 per square foot for concrete and steel construction.

Unit #508 at The Concord:  This unit had a very different result.  The sale was postponed.  This can happen if the unit owner files bankruptcy, talks the bank into a delay of sale, successfully sells the unit as a short sale, or when the bank decides to delay the proceeding.  At any rate, it did not sell and we’ll keep it on our radar in the coming months.

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Jeff Reynolds Administrator
Broker/Owner | UrbanCondoSpaces.com
My name is Jeff Reynolds and I’m a real estate broker with Windermere Real Estate. I’m the founder of UrbanCondoSpaces and I lead Seattle’s number one condo team. UCS is a blog specializing in Urban Living. Contact me to see homes for sale, to sell your condo or to simply learn more about the Seattle Real Estate market.
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Jeff Reynolds Administrator
Broker/Owner | UrbanCondoSpaces.com
My name is Jeff Reynolds and I’m a real estate broker with Windermere Real Estate. I’m the founder of UrbanCondoSpaces and I lead Seattle’s number one condo team. UCS is a blog specializing in Urban Living. Contact me to see homes for sale, to sell your condo or to simply learn more about the Seattle Real Estate market.
web
http://www.urbancondospaces.com
email
jeff@urbancondospaces.com
call
2067941118
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Related posts:

Bellevue Condo That Sold For $1,034,000 in 2008, Going to Foreclosure Auction at $469,031 Foreclosure Results, Modern Seattle Townhome Project Top Floor Condo Sells For $110,000 At Foreclosure Auction On Friday Belltown Condo Headed To Foreclosure Auction, Discounted 45% From Last Market Price In The Next 60 Days, Multiple Seattle Condos Will Headed To Foreclosure Auction

Filed Under: 2200 Westlake, All Condos, Auction Foreclosures, Belltown, Concord, Denny Triangle, Home, South Lake Union Tagged With: Auction, Condo, Condo foreclosure, Condos, Foreclosure, foreclosure auction

About Jeff Reynolds

My name is Jeff Reynolds and I'm a real estate broker with Windermere Real Estate. I'm the founder of UrbanCondoSpaces and I lead Seattle's number one condo team. UCS is a blog specializing in Urban Living. Contact me to see homes for sale, to sell your condo or to simply learn more about the Seattle Real Estate market.

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