Condo prices will start at $95,000 at auction

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NORTH AUGUSTA --- What would you pay for a condo next to a golf course along the Savannah River?

A car drives by The Landing at River Club condos in North Augusta. The development's owners will hold an auction March 12 to sell 25 units. The condos were completed more than a year ago.  J. Scott Trubey/Staff
J. Scott Trubey/Staff
A car drives by The Landing at River Club condos in North Augusta. The development's owners will hold an auction March 12 to sell 25 units. The condos were completed more than a year ago.

Several in North Augusta start at $95,000.

Grampian Hills Development LLC, the owner of The Landing at River Club condos in North Augusta, is hoping the prices are right to clear their hands of some excess inventory.

Twenty-five of The Landing's 48 units next to The River Golf Club will be up for auction at 6 p.m. March 12 at the North Augusta Community Center on Brookside Avenue.

The condos, which peek over the guard rail on the 13th Street Bridge, were completed more than a year ago, said Brandon Howe, an auctioneer for Terry Howe and Associates Inc., the firm holding the auction.

"I don't think this (auction) is indicative of a market slowdown," Mr. Howe said Friday. "It's just that the developer needs to move on to other things and maybe they weren't moving as fast as they would like."

Messages left for Edward Pendarvis, principal of Grampian Hills Development, were not immediately returned Friday.

Open houses will be held from 2-5 p.m. today and Sunday. Additional open houses will be held from 2-5 p.m. March 8-9 and the day of the auction.

On Friday, several curious motorists drove by the buildings as Landing resident Samantha Goldman and her son stood outside their condo. She said only about a half-dozen families live in the development.

"It would be nice to have some more neighbors," the Augusta State University student said. Mrs. Goldman, whose family has lived in the condo about four months, said they were attracted to the area by the river and golf course.

One and two-bedroom condos that previously sold for between $119,000 and $149,000 will open for bids at $95,000, according to the auction house Web site, www.terryhowe.com. Three-bedroom units that had listed in the low-to-mid 200s will open at $142,500, and condos once priced in the high 200s and low 300s will open at $175,000.

Two garages and two boat slips will also be up for bids.

Evans resident Timothy Heard, who toured the area Friday, said the Landing might make for a good investment as a Masters Week rental property.

Though the bidding starts at $95,000 for some properties, Mr. Heard said he didn't expect the price to stay that low.

"I don't think one will sell for $95,000, but that's attractive bait," he said.

If the condos don't sell out, Mr. Howe said no additional auctions will be held.

Reach J. Scott Trubey at (706) 823-3424 or scott.trubey@augustachronicle.com.

LOOK BEFORE BUYING


OPEN HOUSES


WHEN: 2-5 p.m. today, Sunday, March 8-9 and March 12


WHERE: Landing at River Club condos in North Augusta


AUCTION


WHEN: 6 p.m. March 12


WHERE: North Augusta Community Center on Brookside Avenue

TO VIEW AN inventory of homes, visit www.terryhowe.com/auctions/2008_landing">style="bold">www.terryhowe.com/auctions/2008_landing

Comments (27)

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karmakills123
8
Points
karmakills123 03/01/08 - 06:37 am
0
0

These properties are not well

These properties are not well built...people driving over the bridge can see in your windows and some say they are sinking.... ............hey a bargain at 95 thou. !!!!!!

naugliberal
0
Points
naugliberal 03/01/08 - 08:05 am
0
0

Those against the bridge

Those against the bridge should never have been built.

christian134
1
Points
christian134 03/01/08 - 08:52 am
0
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I have always wondered if

I have always wondered if others felt the same way about homes being built almost within arms reach of an overpass. This was a stupid idea and if anyone buys into one of those they seriously need to invest in a cat scan.

oh man
0
Points
oh man 03/01/08 - 08:56 am
0
0

karmakills123 there are

karmakills123 there are reasons the condos are 95. Go take a look at the crooked sidewalks; very cheap fixtures; mud sitting on the insides of windowsills from blowing through the cracks; warped floors and that is just from looking through windows. Usually when you buy a home in north augusta you are pretty much guaranteed of quality workmanship because of the great inspectors na has. Something happened on these. The foundations were sured up already and no one has lived in them yet. YOu have 10 on the market for rent - no one will rent them. Maybe we should be running a pool as to the date them will have to be torn down either planned or unplanned. When is the banner naming them Charles Martin Village going to be erected.

oh man
0
Points
oh man 03/01/08 - 08:57 am
0
0

buying these condos at 95,000

buying these condos at 95,000 plus is the definition of stupid.

eric stoner
0
Points
eric stoner 03/01/08 - 09:00 am
0
0

That pretty well sums it up.

That pretty well sums it up.

oh man
0
Points
oh man 03/01/08 - 09:01 am
0
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oh and who is going to make

oh and who is going to make these poor people who paid for and were promised luxury condos at a high price whole again. A broke developer can't; You can almost envision the class action lawsuit coming against the city of north augusta. The developer needs to be held accountable for these substandard properties and tear them down before the city is stuck with cleaning up this mess; Remeber an auction is as is.

JohnQPublic
5
Points
JohnQPublic 03/01/08 - 09:58 am
0
0

I'd be ticked off if I was

I'd be ticked off if I was someone who purchased my condo at the original high price. That's a big difference in the mortgage payment. I bet they have someone in the crowd who will keep bidding to drive up the prices.

Little Lamb
40133
Points
Little Lamb 03/01/08 - 09:59 am
0
0

Though it's in North Augusta,

Though it's in North Augusta, the Augusta Housing Authority could buy them and move the Gilbert Manor folks over there. Convenient to downtown and a hop, skip and a jump to MCG.

CSRAresident
1
Points
CSRAresident 03/01/08 - 10:28 am
0
0

Wasn't a council member or

Wasn't a council member or the mayor in north Augusta one of the main investors in this fiasco?

fd1962
26
Points
fd1962 03/01/08 - 11:18 am
0
0

How would you like to be a

Unpublished

How would you like to be a member of THAT condominium owners' association? Think they'll ever have special assessments? And: "I don't think this (auction) is indicative of a market slowdown," Mr. Howe said Friday. How reassuring!

dani
12
Points
dani 03/01/08 - 03:43 pm
0
0

If it was across the river in

If it was across the river in RC you could buy one, complain about the problems, and the taxpayers would re-build it for you maybe.

Little Lamb
40133
Points
Little Lamb 03/01/08 - 05:18 pm
0
0

Good point, Dani. In

Good point, Dani. In addition to moving Gilbert Manor people into the condos, we could move the Hyde Park people in there too.

kiseta50
0
Points
kiseta50 03/01/08 - 09:40 pm
0
0

I will send some of my

I will send some of my neighbors from Harrisburg too.

oh man
0
Points
oh man 03/01/08 - 11:14 pm
0
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dani, you can bet at some

dani, you can bet at some point the good citizens of na will have to rebuilt these for them. Oh turn the condos in to section 8 housing although I think I have seen better quality section 8 housing.

SargentMidTown
8
Points
SargentMidTown 03/01/08 - 11:19 pm
0
0

Can project / HUG/ Section 8

Can project / HUG/ Section 8 people in Augusta take there vouchers to North Augusta ? Anywhere but Harrisburg...we are working to get the riff raff out.... www.hongkongaugustaga.org

SargentMidTown
8
Points
SargentMidTown 03/01/08 - 11:25 pm
0
0

At 95 thousand they will be

At 95 thousand they will be popular for section 8 . That will be interesting to see the laundry hanging on the balconies as we cross the bridge. What a mess. That is what happenes when buildings are not built with beauty and comfort in mind.
www.hongkongaugustaga.org

SargentMidTown
8
Points
SargentMidTown 03/01/08 - 11:28 pm
0
0

The golfers will have to get

The golfers will have to get used to hearing boom boxes.

kiseta50
0
Points
kiseta50 03/01/08 - 11:55 pm
0
0

Sargent, you have a good idea

Sargent, you have a good idea about Harrisburg, but do you have enough support to have things done instead of just dreaming about better days? I am with you about the "change" the right way,

iletuknow
7
Points
iletuknow 03/02/08 - 02:32 am
0
0

Section 8 residents are too

Section 8 residents are too lazy to walk the stairs.

truetolife
0
Points
truetolife 03/02/08 - 07:40 am
0
0

as a person that does not

as a person that does not play golf i would not have the desire to live there. iletuknow do you really, know anyone on section 8.

MartinezWest Augusta
2
Points
MartinezWest Augusta 03/02/08 - 03:31 pm
0
0

Of course iletuknow doesn't

Of course iletuknow doesn't know anybody on section 8. Just a bigot who believes whatever the white media tells them. I think north augusta tried to rush and finish these condos. Before the watermark and whites building condos go up in downtown augusta. Theyre wouldn't be any competition between the too of them. Since the watermakr and whites building will be state of the art facilities.

oh man
0
Points
oh man 03/02/08 - 05:48 pm
0
0

rodeo i have heard of these

rodeo i have heard of these condos being called Charles Martin Village after the recently retired city manager. Jonnneee these condos are very far from state of the art. I tour them an they have lights fixtures that cost about $5 each from home depot; If na is a bedroom community why did they build these condos with no access for elderly and or handicap.

georgiasouthern
5
Points
georgiasouthern 03/02/08 - 10:50 pm
0
0

Why didn't the city of North

Why didn't the city of North Augusta stop this and demand them to be build by upscale standards? Better yet why in the heck did The River Club sit back and watch crappy condos get built?

oh man
0
Points
oh man 03/03/08 - 08:49 am
0
0

The river club is just a golf

The river club is just a golf course and they don't own the property over there. The River Club has as much political pull as the rants in the newspaper. Don't you feel for the owners of those million dollars houses next door to charles martin village. Can you hear the crash and burn of property values.

lilging
0
Points
lilging 03/03/08 - 11:42 am
0
0

I toured the condos as part

I toured the condos as part of the home house; These condos would not pass section 8 standards. Very poor construction. I saw a post where it said the mayor or north augusta was the investor is this true.

oh man
0
Points
oh man 03/03/08 - 01:03 pm
0
0

Well lets hope th city of

Well lets hope th city of north augusta has a ban on clotheslines at this property location. Although i just read an article on the internet at aol finance; clotheslines are on the rise. Will that not be a beautiful picture as you cross the bridge into north augusta clean maybe dirty clothes blowing in the wind. Who would be responsible if the torn shirts blow from the clotheslines into oncoming traffic and an accident happens. Would this not be foreseen.

lilging
0
Points
lilging 03/03/08 - 05:15 pm
0
0

thanks oh man now I can

thanks oh man now I can envision size 64 panties blowing in the wind with stains to match.

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