bostonbubble.com

[Bostoner]

There were reports that some condo in Natick (20 South Ave.) would be up for Auction on 11/19/09. Does anyone know the results? Thanks.
http://www.metrowestdailynews.com/news/x876590424/Natick-condos-up-for-auction

[Joe]

They were selling from $550-$600, but some buyers got them for about $330k with 3.15% financing for 3 years and 4.3% for the remainder 27 years! This result is similar to the auction of Nouvelle condo at Natick Collection.

[Sam Chady]

I live a 7 minute walk away from these condos. No one in their right mind would want them. To the left of the building and to the right of the building for several blocks are all auto repair places. When I say ALL, I mean it. A row of ugly buildings with small lots completely filled with cars to be serviced.

Across the street is a large parking lot for the back of the police station and firehouse. You hear sirens all the time as the trucks leave.

Guess what is right behind the building? The commuter rail. When I say behind, I mean like 20 feet or less to the tracks from your wall, and right on the stop, so you hear the train whistle and screech of the brakes every hour or two from 6am to 11pm. So, if your only goal is a cheap new condo directly on a commuter rail stop, you've got it made.

Its also the UGLIEST building - with HUGE (I mean HUGE) ramps for handicapped access - they have to rise up about 8 feet to get to the door, so all you see are GIGANTIC concrete ramps - they must be around 40 to 50 feet or more each in length with multiple switchbacks to get the ramp up to the necessary height to the common front doors.

They used to have this big banner touting "20% sold". Which after months changed to "30% sold" and finally it fell down or they took in down in embarrassment.

[CC]

[joe]

http://online.wsj.com/article/SB123846484770972369.html