If you missed the auction this past week-end at Origin of Seahaven but you'd like to get in on the "steal" ... you're up that well known tributary without the proverbial paddle! "Incredible" is the only word that comes to mind.
The first sale was a 3 bedroom unit for $270,000. At 1781 sq ft, that makes the square foot selling price of that unit $151.60! The next unit, a 2 bedroom condo, sold for just over $200,000. At $201,000, the 1306 sq ft 2 bedroom 2 bath unit fared only slightly better than it's 3 bedroom sister. It garnered a mere $153.90 sq ft.
I guess I shouldn't be too surprised. I mean, Palazzo and Ocean Reef sold for just over $200 sq ft and they're beachfron properties. Seahaven, while of first class construction, is, in fact, not Gulfront, rather Gulfview. As such, probably should command a 10% discount. Even so ... buyers at Saturday's auction finally got what Ocean Reef, Marina Landing and Palazzo failed to deliver ... condos at an "Absolute" auction for a bargain basement price.
Labels: Business, Condos, Credit Partners, Deals, Finance, Florida, Foreclosure, Investment, Panama City, Real Estate, Short Sale, Vacation
