Condo Sales and Foreclosures
Posted by Ashley Derrick on 02/7/10 in For Sale, Foreclosures
I thought I would post an article about condo sales from the AJC. It, of course, says what we have been thinking - that condo sales are way down, but it is an interesting article and discusses the fact that maybe, just maybe, if these developers continue to slow down the influx of new condos, that the condos currently for sale - will, alas - sell!
I also do not know if you heard that the Mansion on Peachtree (pictured below) has officially gone into foreclosure and was bought today - are you ready? - for $66 million - a massive 65% drop from the estimated $197.4 million in total loans for the project. OUCH

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