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Condo Auctions=This Year's Skinny Pant

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Condo auctions are becoming so popular, but is it possible that they are losing their edge at this point? Is holding an auction just the defacto way to unload? About to hold an auction: Kingsley Villa, located in Koreatown. The project is located at 520 S. Kingsley Drive. Of the 26 units, 18 condos are being auctioned off. A 1,450 square foot two bedroom that was priced at $626,000 now has a starting bid of $385,000. You can dowload the pricing sheet here, and the web site is here. The auction takes place on April 18th at the Wilshire Plaza Hotel. On this auction, it looks like there's something called a 3% cooperating broker commission. Navigate carefully, readers! [Kingsley Villa Auction]