KXLY: Riverstone Condo Auction Today

Condos that were once priced at half a million dollars will hit the auction block this morning in Coeur d’Alene at a greatly reduced price. A national real estate firm will auction condos at the Riverstone development Saturday morning. A previous auction was canceled due to lack of interest. Minimum bids begin at $99,000 for one-bedroom units and two and three bedroom units begin at $160,000. The units were originally priced between $300,000 and more than $800,000. Riverstone is a mixed-use development that features retail stores and condos. The project has been plagued by vacancies due in part to the recession, restrictions on lending and high-interest rates. The auction firm hopes lower rates and fewer lending restrictions will help sell the remaining condos/ Tania Dall , KXLY. More here .

Questions: Would you be interested in a Riverstone condo?