Nashville Condos & Lofts
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The West End Condos Sales Update

February 10, 2010 by · 1 Comment 

The auction a couple of months ago at The West End Condos was a great opportunity 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 for $440,000. A two bedroom on the 4th floor with views of downtown that was listed at $645,000 went for $371,250. A one-bedroom on the 8th floor went for $253,000 at auction that had been priced $425,000.

Unfortunately, those deals seem to be gone. The sales agents representing The West End Condos said that only two of the buyers at the auction have backed out. The rest have closed or are in the process of closing. There were a few units that were not sold at auction – either because they were held back or the developer wouldn’t let them go at auction prices. There are still a handful of 2 and 3 bedrooms left, atlhough the developer is flatly turning down auction prices. Expect to pay 75% to 80% off the asking price, which still may be a good deal… Just not as good a deal as two months ago.

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One Response to “The West End Condos Sales Update”
  1. Leigh says:

    Hope he can afford to sit on them a while. I don’t know what is going on over there. My husband and I were interested…we made an offer two weeks before the auction and were flatly turned down and countered with a ridiculous figure. Funny thing is that at the auction, a comparable unit went for LESS than our offer. The agents knew we were very interested and did not pursue us at all. We went back one last time after seeing a West End unit for sale in the MLS. We called the office and were told it was an early owner who just wanted out because of the vacancy in the building. When we arrived, we were told that they didn’t know what we were talking about and that the whole listing was an accident…it was all very strange. We looked at another high-rise, where we have already closed and moved in and they were very receptive of our offer and kept in close contact.
    I guess what I’m trying to say is…I got the feeling that the folks at West End could care less if they sold to you or not.
    I am very satisfied and happy with our recent purchase (in the Gulch) and feel like we made a smart buy at the right time…I agree wholeheartedly with “Be greedy when others are fearful”. The prime units in our building are being picked off like cherries.

    Really enjoy your blogs and use them to keep abreast with the condo market in Nashville as our former condo is on the market. Thanks for taking the time.

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