I happened to leave the house this afternoon just as the bidding was about to begin for 1952 2nd Street NW, which is a house in very poor condition. It ended up selling for $625,000 + 6%, so about $660,000. Remarkable. Anyway, I captured the following two videos, one of the instructions to bidders about the condition of the house, which also contains some very interesting recommendations from the auctioneer about exactly how to flip it:
As well as some video of the auction itself, though unfortunately my memory card filled up before it got to the end:
4 comments:
How do people hear about an auction like this? Guess they primarily target developers.
This is mind-blowing. I could see it going that high if it were one of the big properties on 1st St. that was rundown, but one of those little things on 2nd? If we sell, I think I'm not going to go through traditional means, I'll just hold an auction outside my house and see what we can get!
Ryan, I live on 2nd street and the lots are just as big (and some houses just as nice) as 1st. However, this particular house is extremely run down and frankly ugly. I wonder if the developer will just raze it and build something new - will be curious to see how HPO reacts. They have not allowed us to change any aspect of the front of our house on the same block, but ours is truly historic where this is just a flat brick front.
Here are some pictures of the house where you can see how bad the condition is: http://www.trulia.com/property/3113812309-1952-2nd-St-NW-Washington-DC-20001
There was a sign out front...
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