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.
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
