45 Condominiums at The Ashmore at Germantown to be Auctioned
Chicago, IL and Germantown, MD – In a departure from traditional condominium marketing and sales programs, Fairfield Residential, LLC, a leader in the multifamily home industry, has directed Sheldon Good & Company to conduct a developer closeout auction of the remaining two-and three-bedroom residences in the 404-residence Ashmore at Germantown condominium community.
The auction is part of an increasing national trend – the fastest growing segment of the national real estate auction industry- wherein savvy developers turn to the auction marketing method as a viable business strategy for accelerating the sales of remaining inventory.
The Ashmore at Germantown is a much-heralded, newly-constructed residential condominium community in the upscale Montgomery County suburbs of the DC metro area. Fairfield’s initial sales efforts in marketing the 404-residence complex met with significant success in moving 90% of the residences. Ownership is now turning to the auction marketing method to close out the remaining 10% of the units, which include some of the most attractive Ashmore condominiums.
The auction will be conducted on Sunday, November 16th at the Hilton Rockville Hotel and Executive Conference Center. Sheldon Good is offering a 2% cooperating broker fee; and to successful bidders who opt for a “quick close” within 10 days, a 2% pricing discount from already-low auction pricing.
Starting October 18th Sheldon Good will hold open houses at The Ashmore at Germantown, located at Carlow Point Circle off Waterford Hills Drive, every Saturday and Sunday from 11:00 a.m. to 3:00 p.m. each weekend up to the November 16th auction.
“As the market gets tougher, smart sellers of residential properties become more creative. Over the past decades, we’ve found auctions to be the successful and versatile alternative for traditional residential sales programs. The Ashmore at Germantown’s owners have invested time, talent and money in creating a totally unique lifestyle and are ready to complete their effort by moving the residences as quickly as possible,” said Sheldon Good Chairman and CEO Steven L. Good.
Mr. Good said that the Fairfield Residential owners have successfully sold all of the residences except these final two-and three-bedroom condominiums. In turning to the auction to realize a relative time-certain date of sale of 45 of the residences, the owners, Mr. Good said, understand that they will save significant marketing and carrying costs by accelerating the sales of their remaining inventory at the Ashmore. In order to accomplish this, Mr. Good said, the sellers are more than happy to pass along a discounted price to the buyers at the auction.
Rita Wilson, Vice President Marketing of Fairfield Residential LLC, said: “Our auction is a win-win situation. Within a matter of hours, a significant number of the Ashmore’s remaining units will be sold and there will be some very pleased new homeowners. We decided to break with traditional marketing efforts and reinvigorate Ashmore sales.”
The two-and three-bedroom condominium residences, ranging in size from 1,020 to 1,388 square feet, are available from the first to the fourth floors in the newly-constructed complex. Seven different floor plans are available. Each residence offers in-unit washers/dryers, walk-in closets and spacious covered balconies.
Amenities:
Available in selected residences are the following amenities:
*Arched doorways
*Gas fireplaces with mantles
*Built-in desks and bookshelves
*French doors
*Formal dining areas
*Mirrored wardrobe doors
*Twin-basin bathroom sink vanities
*Separate shower stalls with clear glass enclosures
*Private garages with openers (at additional cost)
Available with all residences are:
*In-unit washer/dryers.
*Dramatic loft-like 9-foot ceilings with decorative crown molding
*Energy-efficient double-paned windows
*Ceiling fans in living room and master bedroom
*High speed internet availability
*Designer brand name appliances
*Space-saving microwave ovens
*Custom cabinetry
*Pass –through breakfast bars
*Garden-style oval soaking tubs
*Resort-style swimming pool with heated spa
*Locker rooms with showers
*Billiards room
*24-hour, full equipped athletic club
*Executive business center
*Bicycle storage racks
*Walking/jogging/bicycling trails
*Covered patios or terraces
About Germantown:
Located 26 miles northwest of Washington, D.C., Germantown is a part of booming Montgomery County. This 16 square mile town is home to over 70,000 people. The area experienced a new surge of energy with the building of Interstate 270 in the 1960’s. Shopping centers, office buildings, a hotel, schools, and a community college accompanied an explosion of home building.
In the last 5 years, home seekers and business owners alike have made Germantown home. Of significant interest are the benefits of living within a master-planned community. Additionally, there are innumerable choices for quality shopping and trendy dining.
About Fairfield Residential LLC:
Fairfield Residential LLC is a leader in the multifamily home industry, successfully creating more than 58,000 upscale high-rise, mid-rise and garden style homes in 15 states and the District of Columbia. Fairfield has consistently been ranked among the largest nationwide as developers, builders, and redevelopers of multifamily communities.
The vision that Fairfield has shaped for Ashmore was to develop a chic, contemporary village in the Germantown area that features amenities and architectural design for which Fairfield Residential is most known. Ashmore is a place where friends meet for coffee, stroll along tree-lined streets and revel in the abundance of good conversation, great food, fine shopping and peaceful green spaces tucked away to discover and to return to. It is the developer’s belief that Ashmore is not merely a place to live; it is the way to live.
About Sheldon Good & Company Auctions LLC
Sheldon Good & Company (www.sheldongood.com), America’s Real Estate Auctioneer, in the past has been rated as the largest real estate auction company in the United States by a number of prestigious publications. The company has aggregate sales of over billion. For further information, please call Sheldon Good & Company at 1-800 315-2199 or log onto www.sheldongood.com
Related posts:
- Sheldon Good & Company to auction 30 fabulous condominiums at spectacular Landmark at the Gardens
- North Carolina Blue Ridge Mountains Condominiums for Close Out Auction
- Sheldon Good & Company Auctions, Inc. in Series of Residential Real Estate Auctions in Nevada, Arizona and California; 143 Properties to be Sold; 30% Absolute, Regardless of Price
- Sheldon Good & Company to auction 20 Waterfront Townhome Condominiums in Catskill, New York, premiere all-season recreational destination in one of the 10 “Coolest Small Towns in America”
- Massachusetts Homes and Condominiums Auction
Recent Comments