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"As a first-time homebuyer, I was nervous about the entire process. Step by step, Joe made it easy and fun. His expertise in the Columbus real estate market is a tremendous asset. He is highly recommended!" - Nicolette Horan, March 08
"I wanted to say thank you again, so much, for all your hard work. I know that you really put a lot of time into this transaction and I really, really appreciate it. I'm so happy I got the house and it all worked out and I just wanted to say thanks again, you did a great job and i really appreciate it. I will put that on the survey when they send it to me.
If there is ever anything I can do for you, please don't hesitate to give me a call. I will refer every single person I know to you. I'm going to go get my dog and we're going to sit on the floor of our new house and have a glass of champaign. Thanks a lot Joe" -- Michael Mamp, Feb 08
What really happened at the Carlyle’s Watch Auction and what does it Mean for Downtown Columbus?
November 2nd, 2007 categories: Condos & Lofts, Downtown
Eight buyers got pretty good deals on their downtown Columbus Condos. Not much else happened. Those eight got those deals because they were the “no reserve” units, sold to the highest bidder. The other units that have been reported sold were, in fact, not sold. At least not yet.
The other 21 condos that were bid on will probably be offered counter-offers from the Developer. They may or may not end up selling. At some point in the future, the remaining unsold condos will be back on the market. Things weren’t going as well as hoped so 7 units were never brought up for bids.
Only about half the people who bought auction packets showed up to bid. I didn’t have any buyers for those units and was out of town during the auction or else I would have been there out of curiosity. My understanding is that of the eight successful bidders, most were investors, not home-owners.
What does it all mean? Not much. The downtown Columbus Condo Market is slow. It’s not just Carlyle’s Watch. Prices have come down all over. The Terraces had a nice price reduction to $179K and now some of those are moving. The Dakota is down to $179,000 for their remaining 1 bedrooms. You can get in to the Hartman under $150,000. That same $179K will get you 852 sq ft at 106 n. High.
Nothing much will change except that some prices on some units will continue to come down to where the market will pick them up. I do wonder though, will future developments get put on the back burner? What about things we’ve been hearing about for some time but aren’t in yet – ala the Jackson or those on the market but not getting much press like south 5th st and Ohio Lofts? Time will tell. People will continue moving downtown and developers will keep betting they will.
Hyitzhak » What really happened at the Carlyle’s Watch Auction and what does …
November 2nd, 2007
[…] Original post by Joe […]
Steve Sipe
November 15th, 2007
You really want to know what happened? I can tell you. I am an auctioneer, and a professional auctioneer.
In a nut shell, the so called auction was one of the more pathetic efforts by the auctioneer that I have every seen in 30 years.
The mans effort borders on criminal in my opinion.
I think he owes those owners a huge apology and it is sad to know that he will accept a commission.
He is the perfect example of what gives the public auction a bad name. Properly executed, the auction is a very viable marketing method. The key is ,PROPERLY EXECUTED.
If you were in attendance, stop and think about how he opened his agenda 20 minutes late.
His first comment was “thank you for being here and you are going to get some tremendous buys today”.
Enough said?
It got worse if you were there to see and hear it, and if you were knowledgable about what it takes to work with people at an auction.