NouvelleAtNatick.com Auction today!

This afternoon I attended the Auction of 42 condominiums in Natick. This was the project long stalled because of the economy and drop in Mass Real Estate prices (we’re now in year 4 of declining values).
My sister was very interested in these Luxury units however I cautioned her about the Real Estate taxes which were based on the previous value.
One of the lowest units, #1003, last asking price was $509,900. Minimum selling price $175,000. Sold for $266,000.
Highest #1205, last asking price was $1,684,900. Minimum selling price $495,000. Sold for $626,000.
Big success for the auctioneer and developer! Now they’ll set the rest of the unsold units based on these new sold numbers!
Market bottom?
What have you folks seen for retail auction trends?
Mike
PS NESN did a quick piece for the Auction, tonight at 10 and 11pm

Leave a Comment

Your email address will not be published. Required fields are marked *