Help improve condo sales with one factor

I just returned from Wisconsin, where we conducted our fourth condominium auction event in the state. We had a successful day with the Northern Bay Condominiums, where 25 units were sold along with one partially-completed building. Over 350 people attended the sale, and there were 156 registered bidders from four states. We had several bidders that had attended some of our previous auctions in Wisconsin, and it’s always exciting to see them ready to bid.

Having said that about our most recent event, I’ve noticed something about our condo sales. Lately, we’ve seen much stronger interest in our condo auctions when the developments can be financed. People want to buy when they can be assured of value, and what better way to know the value than when others are openly and competitively bidding for comparable units that you want to buy? Add the assurance that the unit is financed, and you have a much more open and comfortable way to buy.

I’m leaving for Montana today to sell the Marina Cay Estate luxury condos and boat slips on Flat Head Lake. It too has financing through Glacier Bank, so we’ll see tomorrow if the trend of successful condo auctions with financing continues.

Enjoy your weekend.

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~ by Craig King on September 23, 2010.

One Response to “Help improve condo sales with one factor”

  1. Craig,
    Is this about right concerning the Montana auction results:
    Last listing value, condos and boat slips estimated at 11 million
    7 Kalispell lots , listing value= 700,000
    Total pre auction listing value 11.7 million.
    Auction gross proceeds: 5.08 million.
    The more detail you can give us the better we understand the market.
    Thanks,
    Chuck

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