Live Auction Updates – CLICK HERE

by May 16, 2009 • 3 comments

Ok, so here’s how I think the technology is going to work for the live updates.  I’m going to try and post updates to THIS POST that you are reading, newer updates will be at the top (below where it says “here are the updates”).  I’ll precede each new update with the time to hopefully prevent confusion.  If for some reason, this doesn’t work, then I’ll be emailing in updates that will create a new post each time.

It will look a little chaotic, but at least you’ll have the updates, and I’ll clean it up later.  I’m getting ready to head over there right now.  (1049)

Here are the updates

0152: sold all 1 bedroom condo. Sold 3 bedroom townhome for 205k. That’s 87/foot after buyers premium. Sf is 2576.

Then sold another 3 bedroom townhome for 200k before premium. That guy took 5 at that price

Then they put one 4 bedroom townhome up and it sold for 200k. At 3019 sf, that’s 72 a foot after buyers premium

Auction is over. They sold 125 condos total.

0138: 1 bedroom unit #3-105 sold for 73k before buyers premium that’s 74/foot after buyers premium. Next bid is at 66k right now and . . . Sold for 70k. Guy’s buying 8. The one bedrooms being sold are 1071/foot

0135: sold all the absolute 2 bedrooms. Starting 1 bedrooms. Starting at 70k

0124: so much of a frenzy, they started the bidding again for the 2 bedrooms. Now selling the last 5 available absolute for 87k before buyers premium

0116: again there are live pictures at

Hoards of people were jumping at 77k for 2 bedrooms. They are taking a break. Said they have a lot more condos to sell

0109: hit a sweet spot, a frenzy has begun. People are practically arguing over what they are getting. One guy said he’d take what was left at this price. The magic number for the 2 bedrooms? 77k. That’s 64 bux a foot after buyers premium. Wow

0101: unit number 5-207 2 bedroom sold for 77k before buyers premium.

1255: 2 bedroom 6-207 sold for 95k before buyers premium. That’s 79/foot after buyers premium.

1251: 2 bedroom unit number 7-301 sold for 100k before buyers premium.

1245: first 2 bedroom sold for 125k. All e bedrooms are 1325 sf. This sold for 103/foot after buyers premium. Unit # 6-103.

Also 5-101 sold for 117k.

1239: just sold 3 bedroom for 160k unit # 6-314. All three bedroom condos are 1761 square feet. 99/foot. Starting to sell 2 bedroom condos

1236: just sold unit 6-111, 3 bedroom for 172k.

1231: lady right behind me just bought 3 bedroom 3-108 for 200k. 1761 square feet. 124/ foot after buyers premium. Next bidding starting at 160k for 3 bedroom.

1228: at 1761 sf, that’s $133/foot after buyers premium

1223: 3 bedroom started at 150k sold for 214k

1220: charity auction over will start selling condos in a sec

1211: “its auction time, 1200 noon central roebuck time” said john roebuck. “Don’t wait, buy now”. We just prayed, that’s very cool that they did that.

They are reading the terms now. Should take a few.

1207: auction hadn’t started yet, but they are asking the staff to take their positions. Again, keep an eye on for live pictures

1153: just talked to a reader of pcbdaily, and he was telling me his sweet spot was close to $50/foot. Wow

1147: seats are filling up, people still arriving, parents are here with kids to enjoy the show

1138: a little more than half the seats are filled right now with right around 200 registered bidders. That’s a pretty darn good turnout. To see a picture, go to


1052: testing two

1053: testing 3

1129: wow, parking lot is full, I had to park on the third level of the parking deck

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1 Jason Koertge May 16, 2009 at 2:20 pm

shewy, that was awesome. I’m home now. sorry, I must have closed comments on accident with my blackberry. they are back open now. comment away!

That was an amazing experience, glad to see buyers in the market frenzying for a hot deal.


2 Erin Abbott, ResortQuest May 16, 2009 at 2:29 pm

Thank you so much for posting these live updates!
Erin Abbott


3 Larry May 17, 2009 at 4:08 pm

This is what we need on the beach to get business going again. If the banks would stop trying to hold out for the last dollar we would all be able to get back to normal. I have said before that we have the best deals on beach condo real estate. Great first step and hope to see more of these auctions. We are all losers in this process, it hurts us all but the sooner we get this over the sooner we can see what a great city we will have


4 Gregg May 18, 2009 at 6:50 am

I agree with Larry, the sooner the chips (prices) fall where they might go and all these units get into private ownership, the better off all of us will be. I would bet that some of these developers/banks have not been paying property taxes nor contributing to the HOA’s while these properties have been sitting in limbo.
Quite honestly I was amazed at the pricing.