March 13, 2008 | 7 Comments

Extra, Extra read all about it | Bremerton’s Waterfront Condos | “The 400″ to be sold Auction Style.

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A sign of the times is the “Auction”.  When times are tough the tough find ways to move product. That is what I think is happening here. The high-end condo market is pretty slow right now in Bremerton so the owners of The 400 are employing a new stratagy.  AUCTION ! If you are looking for a condo deal you will find one! One unit is reduced by 58%.  Just this past week it was announced that the Kitsap County Consolidated Housing Authority is switching real estate companies on the nearby Harborside Condominiums.  A sign of the times again. I don’t agree with that move. But then who am I?  See the article at the Kitsap Sun for more information.

Waterfront Condos to Be Put Up for Auction

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Author:Jo Soss

:: About the Author :: Jo Soss is the designated Broker and owner of Homefront Realty in Bremerton, Washington. Selling real estate in the Puget Sound area since 1994 she has vast knowledge of all aspects of a real estate transaction. Being a down to earth, service oriented professional you can expect the service you deserve from her.
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7 Responses to “Extra, Extra read all about it | Bremerton’s Waterfront Condos | “The 400″ to be sold Auction Style.”

  1. Gene Courter MA/MSW/LCSW/DCSW
    March 24, 2008 at 5:00 pm #

    ! want a Condo how much do they cost>
    Gene Courter LCSW/DCSW/BCD San Luis Obispo Ca.
    805-468-2856

  2. Meena Diwan
    March 24, 2008 at 5:32 pm #

    Hello,

    I am interested to know if there will be an open house to view before auction.

    Meena Diwan

  3. Jo Soss
    March 24, 2008 at 5:51 pm #

    Gene, here is some price information listed in the link above from the KitsapSun.

    “Bidding for the smallest condos — one bedroom, one bathroom units with about 577 square feet — will start at $109,000, down from $259,000, according to Real Estate Disposition Corporation Web site, a private firm conducting the auction.

    At the high end, a 1,729-square-foot, two-bedroom two-bathroom condo originally priced at $919,000 will start at $500,000 less.

    The auction will take place April 20 at the Kitsap Conference Center. Viewing of the 28 brand new units will start March 14.”

  4. Jo Soss
    March 24, 2008 at 5:53 pm #

    Meena, Yes. I am pretty sure they are open daily until the auction – are you in the area?

  5. Dan
    March 24, 2008 at 6:48 pm #

    Don’t get your hopes up. Real estate investors will descend on this auction like vultures and drive the prices up in a bidding war. Been there, done it.

  6. Jo Soss
    March 24, 2008 at 6:58 pm #

    Dan, You are probably right. I don’t know if I could watch as my dreams were washed away. I think I would rather purchase one at the Harborside. So do you think they will bid them up and then turn around and list them for sale?

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