Wow! A Home Down the Shore for $75,000
Wildwood condos are on the auction block. Bids start at $75,000
By TORRI GRICE
Updated 9:42 AM EST, Wed, Jul 29, 2009
The sour economy may just hand you an incredible piece of the most sought-after status for many traditional Philadelphians -- your own summer shore home!
The Harbor Cove Condominiums in Wildwood are up for auction this month. Bids start as low as $75,000 and you can get your first look inside the units this Saturday.
The condo units were originally priced for $525,000.
Owning a vacation home in Wildwood, N.J. was an investor’s bliss, until the economy hit hard times. The number of buyers has dwindled dramatically because of people's personal budget tightening and because it's been so much harder to qualify for a mortgage unless you have stellar credit or bottomless bank accounts.
Shore developers in Wildwood, New Jersey decided to forego the traditional sell route in favor of an auction. They're auctioning 7 of the 8 units located on Montgomery Avenue. The auction takes place on April 25 at the Avalon Golf Club, 1510 Route 9 North, Cape May Court House.
What's the catch? There's not one. “We are auctioning the shore homes to sell them,” says David Landis, Sales Representative at RPO Realtors.
You can click here to get the info on registration for the auction. On your mark, get set.. go!
First Published: Apr 3, 2009 1:32 PM EST
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