Comments on: The West End Condos Auction Results

By: Grant Hammond

Grant Hammond — Tue, 22 Mar 2011 02:07:00 +0000

So far the current owners all appear to be in good standing and not in eminent danger of foreclosure, but I will keep an eye open for you.

By: Sissylynne1961

Sissylynne1961 — Tue, 22 Mar 2011 01:06:00 +0000

would love to buy one of these 2 br. condos but until the proces come down dont look like I will be able to…so if any of you know someone that is about to loose theirs, I will be interested

By: The West End Condos Sales Update | Nashville Condos

The West End Condos Sales Update | Nashville Condos — Wed, 10 Feb 2010 14:57:57 +0000

[...] for buyers to pick up a bargain. These luxury one, two, and three bedrom units sold for around 55% of their asking price. For example, a three bedroom on the 6th floor with 2,525 square feet that was asking $948,000 went [...]

By: Highest CD Rates

Highest CD Rates — Tue, 15 Dec 2009 09:32:00 +0000

This is what recession has done to real estate market. Prices have been dropped so badly that rates dropped to less then half the actual price. However, it is good from buyer’s perspective.

By: Highest CD Rates

Highest CD Rates — Tue, 15 Dec 2009 08:32:11 +0000

This is what recession has done to real estate market. Prices have been dropped so badly that rates dropped to less then half the actual price. However, it is good from buyer's perspective.

By: Eric

Eric — Mon, 14 Dec 2009 00:32:22 +0000

Makes great sense. Very informative blog Grant!

By: Grant Hammond

Grant Hammond — Sun, 13 Dec 2009 22:22:11 +0000

What many fail to take into account is that the prices achieved at the West End are a price that sells 32 condos in one day. If the Encore or Rhythm where to want to sell 32 condos in one day, they too would have to lower prices to a similar level. This is a price level that is typically only achievable in these type of bulk sales.

The Encore is within $4 million of paying off their entire construction loan and I don’t see a need for that development to have a bulk sale. They, more than others, have the ability to hold price higher, especially as they reach levels in the $250/ft range. This price range is very close to an actually construction/replacement cost.

The Terrazzo on the other hand, still has some meat left on their construction loan bone. I think that you’ll continue to see some downward pressure on their pricing, but not down to the prices seen at the West End auction. The West End condo price levels are dramatically affected by their enormous size.

By: Eric

Eric — Sun, 13 Dec 2009 21:13:45 +0000

Hi Grant. So how do these auction results inform the market value of downtown condos, ex. Terrazzo and Encore? In your opinion does an average valuation of $175/sq foot make sense for these properties at this time?

By: REO Properties vs. Buying Foreclosure Auction Properties, Buyer … | Maryland Real Estate

Tue, 08 Dec 2009 04:26:30 +0000

[...] The West End Condos Auction Results | Nashville Real Estate [...]

By: Happy on West End

Happy on West End — Mon, 07 Dec 2009 18:23:29 +0000

The quality of the West End condos does not compare to the other condos we viewed especially those in the Gulch.
We were one of the successful bidders Saturday all I can say is Christmas came early at our house.