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  #1  
Old 09-28-2007, 06:53 PM
Ariba's Avatar
Ariba Ariba is offline
 
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Default Developer Close-Out Auction

Anyone in Florida know what these condominiums went for?

Developer Close-out Auction
20 remaining condominium units
8 sold absolute to the highest bidder
No minimiums, no reserves

Platinum Condominiums
480 N.E. 30th Street, Miamai, Fl 33137

Auction date was September 20, 2007 7P.M.
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File Type: jpg AUCTION-Flyer_img_0.jpg (162.4 KB, 20 views)
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  #2  
Old 09-29-2007, 06:04 AM
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Pamela Crowley (Florida) Pamela Crowley (Florida) is offline
 
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I don't know about that one, but another one in the Orlando area sold a bunch at auction a couple weeks ago at around 60% of what they had been asking / selling (few!) for.
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Old 09-29-2007, 07:05 AM
murray stroupe murray stroupe is offline
 
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Location: west tennessee
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Cool I wonder

I wonder about that also;
& what ''no minimums'' means in plain english, or turn key price.
Suprising difference brtween fine print english & plain english.
  #4  
Old 09-29-2007, 08:30 AM
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Marcia Langley Marcia Langley is offline
 
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Location: Springfield, MO
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One of our local big money private financing guys has had frequent periodic auctions over the years. His most recent (elaborate) flyer has that "absolute" label on a large number of properties in a certain county.

I'd never seen that before. Inventory is getting harder to move here.

For a private guy like this I'd guess he really means it. Taking a big loss on a few properties to cut down on inventory sounds like a good strategy to me.

For the really big companies like condo builders in Florida, they probably are fighting for their lives.
  #5  
Old 09-29-2007, 02:11 PM
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3 Putt 3 Putt is offline
 
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Recently in our neck of the woods, Ryan Homes pulled out of about 8 to 10 subdivisions. They simply have pulled up stakes and are gone. A couple of the neighborhoods have about 4 houses done out of 200 lots. Many of the families are concerned that the $300,000 home they just built will now be the high end and that the $200,000 home will start filling the empty lots.
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