SOLD! To the man with the wireless mouse...

Any realtor worth his weight in equity lives by the credo -Change With The Market. And that is just what developers of the downtown Rowan Lofts have done. With a unique web-based auction to sell off their stale units, they hope to swing the current downturn in their favor.

"Nobel Prize nominee Dr. Charles Plott has spent 10 years developing the proprietary software that powers the auction. Plott notes, "The transparency of the auction gives buyers the confidence that they are not paying over the market rate. Sellers secure higher prices for the property by allowing buyers to switch their bids from unit to unit and save marketing costs by selling so many units at one time."

What's wild is that all remaining lofts will be sold at the same time with buyers able to see the progress of all interested units, essentially setting the pace of the one day online auction.
The notable location of this revamped building coupled with the historic finishes and modern upgrades should draw those appreciative of the new quality that downtown LA has to offer. For more info check out the auction website: The Rowan Auction
Via: GlobeSt.com