The latest example of the former is Sheldon Good & Co's. auction on June 26 of 20 condos in the Sable Cove Condominiums development at 960 S. Dawson Way in this city east of Denver. Seven of the residences will be sold absolute, regardless of price. The 20 condominiums represent all of the residences in the last building to have been built in the development. The building has just been completed. The suggested opening bid for these condominiums is $45,000 per unit.

"These condominiums offer several floor plans from which to choose," says Jim MacDonnell, executive managing director of Sheldon & Good, which is based in Chicago. "We are selling them for the developer to close out his entire inventory. We believe buyers will find great value at a fraction of what they may pay for any comparable newly built condominium residence in the Metro Denver area."

MacDonnell notes the property is "very well located," just off EastMississippi Ave. and Interstate 225, close to Interstates 25 and 70. Units include gas fireplaces. The community will have a new swimming pool and clubhouse, which are scheduled to be built this summer.