Foreclosure Auction in Alexandria-EOS 21 Condos on the Block

Following on the success of the Parkside Auction in Alexandria last October the developers of the EOS-21 project in Alexandria have decided to auction off the remaining 43 units they have not sold in the last two years of their conversion project.

EOS-21 is located on South Van Dorn Street just off of I-395 (past Landmark Mall) and the condos were orignally part of the Oakwood Suite Apartments and were converted to condos in 2005.  The remaining units are in EOS-5 and EOS-6 on the South Reynolds Street side of the complex.  According to the auction site the lowest priced one bedroom unit will have starting bids of $135,000 and the lowest priced starting bids on a two bedroom will be $175,000.  These prices are considerable lower than the "list" price of the property.  However just as with the Parkside auction the sales prices of the properties are likely to be higher than the opening bid minimum. 

Auction fever could drive the prices higher but potential buyers are cautioned to consider taking a Realtor® with them when they go to visit the site prior to the auction.  Checking the current resale values in the neighborhood could unearth a deal that might be better than what the auction has to offer.  The auction is scheduled to take place on March 16th at the Hilton Mark Center starting at 1PM.  All potential buyers must register at the EOS 21 auction headquarters prior to March 11, be at least pre-approved and come with a $5000 certified check to the auction in order to bid.

For more information you can check out the EOS 21 website or give me a call to check out the properties on site.


* PER EOS-21 Auction Site-As an incentive to close before April 1, 2008, Seller agrees to contribute 2% of the purchase price to closing costs. In order to be eligible for this contribution, bidders must be conditionally approved in writing from the Seller's preferred lender(s) for a specific dollar amount prior to auction day and agree to use the Seller's preferred title company.

_____________________________________________________________________________________________________

As an Associate Broker with RE/MAX Allegiance in Northern Virginia and native of the area I can assist you whether you are buying, selling or renting a home anywhere in Northern Virginia. For more information about the area or my services you can check VaRealEstateTalk or my Northern Virginia website.

Search all homes available in the Northern Virginia area.