News and notes from Reston (tm).

Thursday, November 6, 2008

Reston's Vibrant Economy Part 27: Reston Town Center condos to be auctioned, ostracizied by other, full-price condos

As if we all didn't already know this, it's always a great time to buy (or sell!) real estate in Reston. But now a condo complex near the Great Wall of Reston Town Center is throwing in the towel. C'mon, guys! No one likes a quitter!

It's a sign of the times and a boon for homebuyers that The Mercer, a high-rise condominium in Reston, Virginia, is auctioning off their remaining one and two-bedroom homes. The starting bids are set at more than 45 percent below previous asking prices.

The minimum selling price for the eight one-bedroom homes is $155,000. The 22 two-bedroom homes have minimum selling prices starting at $205,000. Previous asking prices were $280,000 to $390,000.

Amenities at this high-end development include private balconies and terraces, ceramic tile baths and upgraded kitchens with stainless steel appliances, maple cabinets and granite counters. The building has private parking, valet services, an outdoor pool, a fitness center, a business center and a high-tech media room.
Sweet! The auction is set for 4pm on November 23, but frankly, we think the developers didn't try enough spastically dancing open house signs.


  1. Will you be there, Restonian? Your public demands a full report.

  2. Did anyone go to the auction? How did it go?


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