Home Auctions on Bainbridge Island

With our slower market, sellers and builders are getting very creative when it comes to marketing. Last week our little corner of the world made the national news profiling Bremerton’s The 400 Condo development. On April 20th, twenty eight units will be up for auction. The Real Estate Disposition Corporation, a private auction firm will be conducting the auction. According to the Kitsap Sun, starting bids will be almost 60% off the list price. So, bidding for the smallest condos — one bedroom, one bathroom units with about 575 square feet — will start at $109,000, a drastic reduction from $259,000.

So, no surprise, these prices got the attention of the public. I called the sales office today and according to a representative at The 400, as of yesterday (3/30/08), over 1600 people have toured the condos since the first viewing weekend just two weeks ago (800 toured in the first weekend). What the media and the auction company fail to mention however, is the hidden reserve price built into each condo. The “bidding” may start at $109,000 for a $259,000 condo, but the hidden reserve price might be closer to $200,000. See the PDF under the Disclosure section on the auction REDC Website. Plus, the buyer must pay a 5% auction commission on top of the sales price.

I don’t blame the investors of The 400 for trying to sell their investment. But, misleading the buyers who are already wading through the media madness about the current real estate market is just not ok.

On March 31, 2008, in Real Estate Business, by

Life with kids on Bainbridge Island

Having grown up in the East Bay and Sacramento, California, living so very close to so much water is relatively new for me. I am still sometimes caught off guard when I wind down Blakely Avenue and almost drop into Eagle Harbor. Or when I am touring around, looking at houses and boom, I come to the edge of a cliff to find Manzanita Bay. You can’t get very far around here without running into the water, which, well, I must admit, is pretty great.

But, with the hustle and bustle of daily life, which includes family, work, sports, errands, we constantly have to remind ourselves to head out to the water, to make the time to enjoy it. My kids love going to Fay Bainbridge Park on the north end of the island. They love to collect sticks and rocks and dig for clams at low tide.I love to watch them run around while I gaze at Seattle and try and spy bald eagles.The setting is truly amazing.And when we are there, I wonder why we can’t get there more.

Lytle Beach is another beach well worth exploring. Being on the southern end of the island, it is usually more sunny and warmer than waterfront spots on the north end. Folks that live near by have great beach access and the beach has lots of interesting shells and rocks for inspection and collection. While there, you can enjoy the view of Rich Passage and watch the Bremerton Ferry wind its way to and fro. And, on a clear day, which we have had a string of lately, Mt. Rainier is ever-present.

The other night, taking advantage of the lengthening days, we headed out to Hawley Cove Park out at Wing Point, very near the ferry terminal.From the parking area you can walk (my kids like to run because it is downhill) on an easy, path down to the water.Once there, you can access the beach and have a front row seat when the ferry docks.It is kind of cool to be digging in the sand and look up and see the ferry right there, like it appeared out of nowhere.

My husband is great at getting the kids out and about and he and our youngest especially like to fish. An easy spot with kids is Point White Dock out at Crystal Springs. The dock is convenient to fish from and there is a rocky beach to explore where you can find very large, very colorful sea stars or starfish. I haven’t seen any fish come home, but they have had fun catching and releasing the small fish they have reeled in.

So, join us, throw caution to the wind and clean that bathroom next weekend. Hit the beach, hit the trails, remember to take advantage of all the island has to offer.

On February 23, 2008, in Activities, Community, Personal, by

Looking for something?

Use the form below to search the site:

Still not finding what you're looking for? Drop a comment on a post or contact us so we can
take care of it!

Windermere Real Estate/BI, Inc.