Thursday, June 14, 2007

Take your pick...50 condos to be auctioned off this Saturday in St. Petersburg, FL

St. Petersburg, Florida

A report and video from Fox 13: “50 south St. Petersburg condos are on the block this Saturday, including 20 that will be sold at absolute auction.”

“‘It sells regardless of price,’ says J.P. King Auction Company spokesman Carl Carter.”

“‘No minimum bid, no reserve. The high bidder gets it,’ he said.”

“The number of condos for sale in Pinellas County has mushroomed from 1,450 in May of 2005 to more than 9,000 units last month. But prices are dropping: The average condo price was $200,000 in January and was $170,000 last month.”

From Auctioneer J.P. King:

Enclave at Sabal Pointe Condominiums

50 garden-style condominiums -- 20 selling absolute!

Take your pick of these 50 garden-style condominiums and buy one at your price. These units come in five different floor plans, but they all have a lot in common – the Enclave amenities, the beautiful courtyard, balconies/patios and more floor space than you’ll find in comparable condos.

• Clubhouse with flat-screen TV and bar
• Two pools
• Fitness center
• Playgrounds
• Picnic areas
• Lush tropical landscaping
• Pet-friendly

Ideally located, for work or play
• Only 15 minutes to downtown St. Petersburg offices via nearby Interstate 275
• Five minutes to St. Pete Beach, one of the nation’s most popular beaches, with Pinellas County’s longest undeveloped stretch of public beach
• 20 minutes to Tampa Airport

Any ideas on the possible outcome of this auction?


Anonymous said...

Any ideas...

Any ideas on when and how this will affect the rest of the economy? So far overall the markets have held up well.

Dimitris said...

I personally find it hard to believe that the economy can shake-out the housing recession as some leading economists are predicting. Looking at the current state of housing - sellers still in denial, rising interest rates, credit tightening, rising inventory,increasing foreclosures, etc. I personally don't see a bottom in all of this. I think corporate spending and the job market will be good indicators to look at in the near future.

Anonymous said...

Something tells me the 20 which will be sold "absolutely" will not be identified until after the auction, and those will be the 20 with the highest bids relative to the cost of the condos.