I wanted to alert all of our clients and friends to a great opportunity to pick up a brand new condo in Montgomery County at an upcoming auction. Some of you may have seen a report about this auction on WUSA 9 News, view that report here:
The builder of The Ashmore at Germantown has apparently decided to cut his losses and auction off nealry 60 remaining units in the development. The 2 bedroom/2 bathroom condos will start at $140K. I ran quick comps in the MLS and it looks like as late as this spring the same units were listed for around $335K.
The auction will take place on Sunday, November 16th at noon at the Hilton in Rockville. The auction house will have the units open for the public to view November 1st, 2nd, 8th, 9th and 15th from 11 am to 3 pm. The community center/sales office is located at 13500 Carlow Point Circle at the intersection of Waterford Hills Boulevard Father Hurley Boulevard in Germantown.
At the auction WEBSITE you will find detailed floor plans, a map of the community and a price sheet of the specific units and the starting bids for each. This seems like a greast opportunity for first time buyers or those looking to pick up an investment property. Let me know if you would like help understanding the auction process, I have successfully purchased investment property at auction and I am happy to share my knowledge. Contact me at Michael@RealAstute.com or 202-369-9821.
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