April 3 Close Out at The Stretford in Tyler Offers Bargains

Stretford Auction Main

Last August, I wandered out to Tyler to see a high-rise … in Tyler … a high-rise.  I was just as surprised by the prices as I was the location.

Back then prices in the 81-unit tower started at $160 per square foot for a two-bedroom, two-bathroom, 2,051-square-foot unit.  Flash-forward and now the developer wants to sell off the 10 remaining units at auction sealed bid accelerated sale.  So if $160 per square foot wasn’t interesting enough, how does $115 sound?

You may recall that the 14-story tower faces the Cascades Country Club and golf course, offering great views over the course and countryside.  And in Tyler, there’s plenty of countryside to look over.  Especially in this high-rise that’s away from the core of Tyler.

Units available at auction

Units available at auction

Sometimes a second shelter doesn’t have to be thousands of miles away.  Sometimes closer retreats mean you’re there more often. Given the sizes, a weekend getaway at the Stretford may be your larger home. Certainly, owning a high-rise condo lets you lock the door and not worry about maintenance.  Every minute you spend here is free time.

Unit A

Unit A

 

There are two sizes of units.  Unit A has two bedrooms, two bathrooms and a study with between 1,962 and 2,073 square feet. Depending on location, these units are sprinkled between a reserve price of $235,000 and $325,000. Price is dictated by location and view. I liked the forest view more than the golf course and those were the less expensive option.

Unit B

Unit B

The “B” floor plan is a two- or three-bedroom unit with two full bathrooms and a study.  These range from 2,326 to 2,339 square feet and similarly are available in the same reserve bid categories.

Unit B Kitchen and Dining Area

Unit B Kitchen and Dining Area

If you’re interested in the super sale, they’ve setup a dedicated website to answer questions.  There are open houses on the weekends prior to the April 3rd deadline (special appointments can also be made).   This isn’t a paddle-waving auction, but rather a sealed bid close out with reserve pricing where written bids must be received by April 3, 2017 at 5 p.m. local time.  Winners will be notified before April 6 if their bid has been accepted, at which time it is converted into a revocable offer. Buyer’s agents will receive a 2 percent commission. Buyers winning the bid on multiple units will be given a one-hour window to select the unit they want.

Since I can’t encourage you to start practicing your paddle-waving, I’ll just tell you to warm up your pen.  It’s a really nice property for some really nice prices. For more answers, contact sales agent Kim Hauser.

Remember: When I’m not stirring up trouble in Dallas, Texas or Honolulu, Hawaii for Candysdirt.com and SecondShelters.com, I’m off scouting interesting locations for a second home.  In 2016, my writing was recognized with Bronze and Silver awards from the National Association of Real Estate Editors. If you’re a Realtor with second home clients who’d like me to feature their journey, shoot me an email sharewithjon@candysdirt.com