This past Saturday, a few hundred prospective homebuyers gathered in a subterranean room in the Grand Hyatt downtown for an old-fashioned property auction: 117 Washington-area properties were on the block, for starting bids ranging from $5,000 to $329,000. The Auction.com staff were in a festive mood, making the most of an economic catastrophe that had [...]
Posts Tagged ‘auctions’
The District dispatched with 18 falling-down and unbuilt properties this afternoon, in a brisk auction with a clear takeaway: While investors are willing to pay top dollar for eyesores in good neighborhoods, there’s still little interest in marginal markets on the eastern end of the city.
Case in point: before the auction began at the Washington [...]
Tomorrow, 18 District properties–several in Congress Heights, a few in Columbia Heights, Old City, Deanwood, Barry Farms, and Woodridge–are going on the block as part of the Department of Housing and Development's second-annual property disposition auction at the Washington Convention Center. There are all sorts of rules associated with buying and rehabbing these houses and [...]