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Skyline Condo Auction - 11/11

10/25/2007 11:01:00 AM
We're still feeling the pain of the sub-prime mortgage fallout. Housing prices continue to fall - bad for homeowners, good for renters. As a side note, according to an article from John Keith's Boston Real Estate Blog (here) Downtown Boston has been relatively unaffected. Anyhoo, although I'm not in the market anymore (I'm going to stick with renting for the time being) - I'm sure there are others out there who could benefit from this auction.

The Skyline Condominiums at Station Landing are going up for auction on November 11th. I'm sure you've seen the place, I pass by it everytime I go to the Costco in Everett. Does everyone remember the auction held by Folio Boston last year? People ended up getting condos for an average of 25% below asking price. I have an excel spreadsheet of all the Folio Boston results if anyone's interested. Email me and I'll send it to you.

I think the state of the market is even worse this time around. It'll be harder for folks to secure mortgages, which hopefully means less competition for those of you that have good credit and have been waiting patiently. Click (here) for a Globe article on the Skyline auction and then click (here) if you'd like to participate.

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