R5Realty.com attended the auction of the stately, yet weathered palace on Montgomery Ave., across from Suburban Square this past Saturday Nov. 6th. We got there about 1:30pm and took the tour of this weathered Goddess with lovely grounds (see October auction post for address details).
We chatted with the lonely auction personnel and the Realtor, who explained that unlike some auctions, this one was being held out of choice and not out of necessity. Owners/property is not in financial distress, but decided an auction might be the best avenue to attract buyers in this market, according to the agent.
Several interested buyers stalked the grounds in anticipation of the 2pm auction. Given the paucity of potential bidders, I wondered if a steal might be in the making.... Should I run to the bank for the needed 20k deposit?
Fortunately I stayed put and at 215pn the auctioneer announced the sellers decided not to go thru with the auction based on the relative lack of interest.
Doh! Was looking forward to seeing the auction happen but no dice.
While the auction did not happen, this once grand house is still for sale hundreds of thousands of dollars below renovated value.
Someday someone will restore this place to its flagship status by Montgomery Avenue, someday I will get to see a hooping, hollering auction in Ardmore, but for now, the status is Quo.
