Downtown Raleigh Condo Auction: The Quorum Residences

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Real Estate Agent with RtownLiving

New Downtown Raleigh condo auction set for March 20th.   Just announced today in the News & Observer, the Residences at Quorum Center are auctioning off their remaining 14 condo units on March 20th at the downtown Marriott hotel.  

It seems like a wave of condo auctions has come to Raleigh, as this is now the second major condo auction in the last 6 months for this market, after the West condos had it own successfull auction last Halloween.  The News & Observer noted that for the West auction, bids were as much as 40 percent lower than earlier list prices, so the opportunities to buy condos in downtown Raleigh are looking much better.

For this particular auction, starting bids will be from $120,000 up to $325,000.  Properties here were previously listed from the $300,000s, according to their main website.

As far as the inventory goes, the condos range from the 764 sq ft, 1 bedroom/1bath all the way up to 2,243 sq ft 3 bedroom/3.5 bath/2 balconies, with 5 different floor plans to choose from, so there is great choice. The building is just gorgeous I think, as I had a chance to tour it last May during the Downtown Raleigh Home Tour

The official site for the action is here, which you can visit for more additional details.  

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Nestor & Katerina Gasset
International Properties and Investments LLC - Wellington, FL
Realtors, Wellington Florida Homes For Sale

Hello Kriselie,

Thanks for sharing and welcome to ActiveRain!

ActiveRain is a great place to learn and share anything you need to know about the real estate business or about getting the most out of blogging and marketing yourself on line. If you have any questions just stop by my blog. I am an Ambassador so I am here to help you make the most out of Activerain.

Have a great day!

Katerina

Feb 11, 2011 06:19 PM #1
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Vick Pacheco / Luxury Homes & Lifestyles
Empire Network Realty / Luxury Homes & Lifestyles - Orlando, FL
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elcome! Welcome!! Welcome!!! to ActiveRain! Lots of opportunity here to generate and grow your business, have a good look around and jump in!  You can really get your name out in to the world more efficiently then any other way on the internet with ActiveRain!

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Feb 12, 2011 10:19 AM #2
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Kriselie Monserrate
RtownLiving - Raleigh, NC

@Katerina and @Vick, thank you! Looking forward to meeting you as many other professionals here! 

Feb 12, 2011 11:31 AM #3
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Elizabeth Byrne
Keller Williams Realty - Arlington, VA
Arlington Virginia Real Estate

Kriselie, I am brand new to AR, like you. I hope to keep in touch and learn together. It sounds like the Raleigh market is going through tough times. I hope the crisis will be over soon, and we can move on with our lives.

Feb 13, 2011 08:02 AM #4
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Kriselie Monserrate
RtownLiving - Raleigh, NC

Hi Elizabeth! Thanks for the comment, and welcome to Active Rain too!

I think the Raleigh market has done really well overall, compared to many others out there.  The condo market, however, is a niche that is still establishing itself.  These newer condos are adjusting, and finding ways to clear inventory, so that's always better than just waiting for anything to happen.

See you around!

Feb 13, 2011 10:20 AM #5
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Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Kriselie - This could be an excellent opportunity for Raleigh condo buyers.

Feb 21, 2011 09:36 PM #6
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Kriselie Monserrate
RtownLiving - Raleigh, NC

I agree, Michelle, specially for those buyers who are on the fence waiting for a great opportunity.  Who wouldn't want to be in that situation?

Feb 21, 2011 10:02 PM #7
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Kriselie Monserrate

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