Another Property Sold @ Auction. Another Record Set

Over 2,500 website visits and 771 prospects…11 bidders competed, resulting in the highest recorded sale price in King’s Gate (Plano Texas) in over four years and the highest in Plano in the past year. This 14,000-square-foot gem on 2.21 gated acres truly epitomizes the best in luxurious, metropolitan, suburban living.

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On The Auction Block | Hendersonville, TN Prime Commercial Land

Commercial Land AUCTION

Thursday * June 13th @ 12:00 noon

YouTube Video

44.5 Acre Development Site | Hendersonville, Tennessee

Zoned Commercial (MCD & I-R)

Suitable for Mixed Commercial Development:  Retail, office, Industrial, Warehouse, and Recreation

100 New Shackle Island Rd. Hendersonville, TN 37075

Tract #1           16.78 acres (New Shackle Island) – Selling Absolute

Tract #2           19.24 acres (New Shackle Island) – Selling Absolute

Tract #3           8.5 acres (Tennessee Way)

**Income Producing Restaurant Lease | Income Producing Driving Range**

100 New Shackle Island Road Hendersonville, Tennessee – Thirty-six available acres setting in high traffic location in Nashville’s (North Market).  The property is zoned MCD (Mixed Commercial District), and has adequate access to all necessary public utilities. Taxes are typical of the Hendersonville market, and the area continues to see strong commercial growth.

The property has an existing restaurant building consisting of 2,109 square feet of rentable building area with existing lease, along with a self-service driving range.

Tennessee Way…just off Volunteer Drive – Eight and one-half acres setting in an existing commercial development with great frontage. The property has availability to all necessary public utilities and is zoned I-R (Industrial District). The combined acreage makes this auction site one of the largest remaining tracts available for commercial development in Hendersonville.

Due Diligence Info:          www.RealtyTrustAuctions.com

Dwight O’Neal, Broker / Auctioneer

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Auctioning Oak Hill Mansion on (3) Acres

Welcome to 1031 Battery Lane…nestled among the many grand estates common to this area between Brentwood and downtown Nashville. The builder has used the English Manor House style, design and architecture to create one of the most elegant, character rich homes in the Oak Hill area.

Auction | On-Site * Saturday – June 8, 11:30 AM CST

RealtyTrust Auctioneers is proud to offer this spectacular Nashville estate at public auction – June 8th @ 11:30 a.m. With over three acres of land in a park-like setting, this custom built English Manor inspired home boasts 8,300sf, a grand entry foyer, soaring ceilings, (5) fireplaces, custom millwork, floors with dark rich wide-plank hardwood, and a gorgeous winding staircase leading to the balcony overlooking the foyer below…Enjoy our YouTube Video

Property Features

  • English Manor Architecture…built 2006
  • 8,382 sq. ft. (5) bedroom, (5) bath, (3) half-bath
  • Main Level Master suite w/ adjacent private study / exercise room
  • Exquisite, well-appointed master bath w/ heated marble floors, custom millwork, large tiled shower w/ multiple showerheads and massive walk-in closets.
  • Gourmet Kitchen…Wolf * Bosch * Sub-Zero
  • Tall 12 and 22 foot ceilings, and 8 foot doors enhance the airy interior
  • Huge custom windows flood the home with natural light, and several terraces extend the outdoors in
  • Massive Entertaining / Family Room with theatre area and wet-bar
  • Custom Millwork * Wide-Plank Hardwood and solid-surface countertops
  • All Guestrooms feature private bathrooms
  • Outdoor Living w/ kitchen area and two stone fireplaces
  • Garage Parking for Six Vehicles plus additional storage
  • Over (3) acres…backyard with private park setting

Dwight O’Neal, Broker / Auctioneer

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Luxury Real Estate Showing ‘strong momentum’ in Global Market

Wealthy continue to pay top dollar for trophy properties

<a href=Australian mansion image via Shutterstock.

The international luxury real estate market remains relatively immune to the economic and political trends that drive the general housing market and is off to strong start in 2013, according to a report from high-end real estate affiliate network Christie’s International Real Estate.

The report compared 10 top property markets around the world: London, New York, Hong Kong, Paris, San Francisco, France’s Cote d’Azur, Toronto, Dallas, Los Angeles, and Miami. The company, a subsidiary of Christie’s auction house, also rolled out a new index, the Christie’s International Real Estate Index, which ranks markets across metrics such as record sales price, prices per square foot, percentage of non-local and international purchasers, and the number of luxury listings relative to population.

The 10 markets were also chosen for the network’s strong market share locally. Christie’s International Real Estate has 125 affiliated brokerages in 41 countries.

London, which topped the index, achieved a record sales price of more than $121 million for a residential property in 2012, followed by an $88 million sale in New York. In all of the cities studied except Dallas and Toronto, the highest sales price for the year exceeded $35 million, the report said.

Economist Robert Shiller has predicted U.S. home prices will rise only one or two percent a year in inflation-adjusted terms for the next half decade due to “lingering uncertainties” in world economies, the report said. By contrast, a study by the The Boston Consulting Group expects global sales of personal luxury goods, such as fine art, to grow about 7 percent annually through 2014, assuming there are no new major economic crises, the report added.

“Except where there is government intervention luxury residential real estate values will likely follow luxury goods and not the general housing market, and are therefore poised to increase in many of the cities studied in 2013,”  the report said. “This is particularly true as (high-net-worth individuals) turn their luxury investments toward nonconsumables and experiential luxury products that have lasting value.”

Bonnie Stone Sellers, CEO of Christie’s International Real Estate, said in a statement that “strong momentum” in the luxury property market “is also being driven by scarcity of quality inventory and demand from international buyers in many of the world’s top destinations.”

There are more billionaires worldwide now than before the 2008 financial crisis and 55 percent more millionaires than in 2000, the report said.

“This is a large part of the reason the cities surveyed have done so well: the international crossborder purchaser has continued to buy the trophy properties at top dollar,” the report said.

This is particularly true for buyers from countries where local economic uncertainty encourages the rich to park their cash in international cities least affected by the global downturn. In seven of the 10 cities studied, more than 30 percent of the luxury homebuyers were from other countries.

High-net-worth individuals “find the world to be a small place, and geographical distances between cities are not relevant to purchasing patterns, which are more similar to each other in the 10 cities surveyed than other cities within the same country,” the report said. “Globalization, economic development, wealth deposits, and technology attract HNWIs to the key global urban centers, where knowledge, capital, and culture intersect.”

In the most of the cities studied, the share of all-cash deals rose with the sales price. Nearly 100 percent of Los Angeles transactions above $5 million were in cash, followed by 90 percent in New York and 70 percent each in San Francisco and Miami.

Recent tax law changes in many of these markets will likely have a negative effect on 2013 high-end market activity, the report said. For instance, in Toronto, new restrictions on mortgage financing intended to cool the housing market, are expected to lengthen days on market for luxury properties, which have hovered at 46 days for the past two years.

“Government actions relating to taxation and lending standards can significantly influence buyers worldwide, including luxury home buyers. In nearly all of the cities examined, recent changes to capital gains taxes, wealth taxes, transfer taxes, mortgage restrictions, and secondary residence taxes have created notable catalysts in the market,” the report said.

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Auction – most transparent way to buy property…according to billionaire developer and world’s 5th wealthiest woman

In an interview @ CBS – 60 Minutes with Lesley Stahl – billionaire developer Zhang Xin commented on buying real estate at public auction, and how the auction process is more tranparent and lessens uncertainty.

Zhang Xin: For instance, if we buy a piece of land, we buy it in auction, then that’s very transparent.

Lesley Stahl: Openness.

Zhang Xin: Openness, yeah. The more openness it is, the better it is. We don’t need to know anybody, we don’t need to be the daughters and sons of anybody, we can just buy with money on an open market.

She believes open market tools like public auctions and transparent accounting will lessen the corruption and the cronyism. The woman who once slept on a dictionary, and now has about $3 billion in her bank account, may tout China as the new land of opportunity, but she knows it’s still not the land of the free.

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Home Prices Rising…Possibly as much 9.7% in 2013

At least according to – J.P. Morgan Chase, who expects U.S. home prices to rise 3.4% in its base-case estimate and up to 9.7% in its most bullish scenario of economic growth. Standard & Poor’s, which rates private-issue mortgage bonds, on Friday said it expects a 5% rise in 2013.

The J.P. Morgan analysts boosted their base-case estimate from 1.5% after a convincing rise in the “net demand” for housing this year has surpassed 2 million homes for the first time since 2006, said John Sim, a strategist at the investment bank. Net demand is the pace of existing home sales minus the inventory of homes available for sale.

“Net demand has picked up a lot in 2012,” said Mr. Sim. “Once you get north of the 2 million territory, you are in the positive growth area unless you get a lot of distressed inventory, which this year hit a low point” since at least 2008, he added. J.P. Morgan predicts that net demand to rise from 2.7 million next year from 2.3 million this year.

An expected increase in home prices in 2012 triggered a run into some of the riskiest real estate assets, such as subprime mortgage-backed securities from the real estate boom, and analysts including Mr. Sim expect that trend to continue. Rising home prices and the quest for yield has also given a tailwind to new mortgage bond issuance that has been mired in the fallout of the housing crisis and regulatory uncertainty for the past four years.

U.S. home prices nationwide increased on a year-over-year basis by 6.3% in October, the biggest increase since June 2006, according to CoreLogic. Investors zoning in on the increases bought subprime mortgage bonds, which have posted returns of more than 40% since December.

Home price increases could exceed J.P. Morgan’s base forecast if investors seeking yield push deeper into real estate, according to Mr. Sim’s home price report.

That may already be happening, considering recent comments by Luke Scolastico, a vice president at Credit Suisse, one of two issuers of mortgage bonds without government backing since the financial crisis. Credit Suisse is increasing its purchases of jumbo loans to meet demand for securities it sees from investors, he said on an American Securitization Forum panel this week.

“We’re buying loans, every day…and (on the month,) more than the month before,” Mr. Scolastico said. Part of the reason is because of home price appreciation, but also because of the “technical demand” for relatively higher yielding assets as Federal Reserve policies depress interest rates, he said.

New mortgage bond sales from other issuers, including investment banks, could boost issuance of private label bonds this year as high as $30 billion, Mr. Sim said. That’s up from almost $5 billion this year but paltry compared with annual volume above $1 trillion generated as the housing bubble neared its breaking point in 2006.

Mortgage bonds issued by Fannie MaeFreddie Mac and Ginnie Mae still fund more than 90% of new home loans. Bank portfolios and other private lending make up the rest.

Considering risks, J.P. Morgan analysts conceded that the economy is “gloomy” and tight lending standards can stop a bullish homebuyer from proceeding with a purchase. On the supply side, the “shadow inventory” of more than four million homes near or stuck in foreclosure still looms, though that is dropping, the analysts said.

What’s more, just the uncertainty over whether politicians will be able to steer clear of the “fiscal cliff,” the scheduled tax increases and spending cuts next month, may hurt investor confidence, the J.P. Morgan analysts said.

If taxes rise, reduced income for the potential homebuyers will damp housing demand, they added.

But the expectations for higher home prices are still widespread. Nearly three-quarters of investors polled by J.P. Morgan expect home prices to rise 5% in 2013.

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Auction – Brentwood Office Building

Absolute Auction - Nov. 29th @ 12:00 noon

Absolute Auction

Income ProducingHigh Visibility w/ Strong Traffic Count

Zoned C3 (Commercial Services)

Thursday 29th @ 12:00 noon (CST)

===============================================================

Location * Location * Location

9000 Church St., Brentwood TN – (Maryland Farms area)

(Intersection @ Church St. & Wilson Pk.)

This 7,000 sf commercial office building has adequate parking and easy access at the signaled intersection of Church St. and Wilson Pike. The majority of land uses along Church Street and surrounding Maryland Farms area are commercial uses, which include: Office Complexes, Restaurants, Retail, and Hotels. The property is in a strong trade area with easy access to I-65, and approximately 5 miles from Nashville’s Central Business District.

  • Building Square Footage:              7,592
  • Gross Leasable Area:                      7,064
  • Year Built:                                            1979
  • Lot Size +/‐                                         .62 acres (27,007 sf)
  • Parking:                                                4:1 (cross-easement)
  • Zoning:                                                 C3 Commercial Service / Warehouse

Potential Income:

Rent $ 113,024.00

Square foot rate $ 16.00

*Go to www.realtytrustauctions.com for offering summary / pro-forma, and other details

***YouTube Video***   http://www.youtube.com/watch?v=YDsEbWirI0A

E. Dwight O’Neal, Auctioneer / Broker (615) 390-2727

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Women in business: Who are our role models?

Nashville Business Journal by Aileen Katcher, Guest Blogger

Date: Wednesday, May 23, 2012, 7:08am CDT – Last Modified: Thursday, May 24, 2012, 9:21am CDT

We are so excited to have strong women – like Nancy Johns Wood working with our firm. As a leader in the commercial real estate and auction business in Nashville Tennessee, we believe it is our responsibility to recruit and retain the very best Nashville has to offer. And with Nancy, both RealtyTrust Auctioneers and the public-at-large are blessed to have the decades of experience Ms. Wood provides…enjoy the article.
     
 
 

Guest Blogger- Nashville Business Journal
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After my post earlier this month on the good ole boys, I received many comments from women in the boomer generation about how lucky the Gen Xers are to have women role models, as boomers did not. Nancy Johns-Wood, a banker, said “I could write a book about my positions as one of the first women bank managers in Nashville; however, as I look back on this time, there were no role models for us.”

In talking to other boomers, I came to realize we did have female role models in addition to male role models – just not the same kind as women today. Some were our relatives, others pioneers. Here’s what some boomers told me about their early role models

“My role model was a college dean who worked with me on a project. She was savvy, personable, smart, direct, attractive, confident. She challenged my thinking and assumptions in a constructive way and dressed in a way that was feminine and fun and serious.”

“My role model was a 54-year-old man. I was terrified of him. He was super critical and mercurial. One day I went to his office and stood up to him. We talked for an hour. After that he treated me as a professional and a peer.”

Then, I thought about my own situation and I realized that, in addition to male role models, I had two strong female role models – my mother and my first female boss.

Mom was secretary to the head of a national brewery before she married and had kids and became a “homemaker” and volunteer secretary at our school until she decided that if she was going to work that hard she should get paid. She became executive assistant for a hospital research lab.


Looking for a role model in your career? Would you like the chance to give back to a younger female professional? Here’s your chance: The NBJ Women of Influence Mentor Program. Click here for the all the details.


I always thought it was the norm for a woman to work. An early job was in a hospital public relations department, before it was Kosher for hospitals to promote themselves. My boss, Jean Moore, convinced the CEO that the hospital needed public relations and created what was one of the first hospital PR departments in the south. Jean didn’t finish college, was a single mom and one of a few women in leadership. Not only was she a pioneer as a woman executive, she was a pioneer in bringing professional status to health care public relations.

So who are the role models of today’s up and coming business women? Here are some comments from Gen Xers on their role models today:

My aunt, a successful CPA, is my role model. She showed me you can succeed and be a successful woman without having to be married.

A superior at my first job is mine. She led by example by being a patient, humble, and decisive leader. I learned to challenge myself daily, have a professional attitude, pay attention to details, and to engage.

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Gerry House – Auctioning his Country Retreat aka “Pegram Palace”

Welcome to 1099 Deerwood Trail in Pegram, TN, aka  Pegram Palace for many of us who live in Nashville, we know very well who owns this little slice of heaven. Gerry House – country music radio icon, hit songwriter and mediocre golfer…according to his golfing buddies. That’s right; Gerry House and his wife Allyson will be offering their beloved country retreat at public auction Saturday July 28th, 2012. The property comes complete with three separate houses (furnished), one of which Gerry uses as a private studio for writing. The property is located in rural Cheatham County, a quick 25 minute drive from Music Row on just over 53 acres at the end of a gated road, with three large ponds and docks for fishing or simply sitting and relaxing. This is a place that inspires creativity, family and peacefulness, a place with a rich history of creative writing and collaboration…if only these walls could talk.

This secluded retreat is hidden behind private gates, with a long gravel road leading up the valley to the property in the woods. The property was originally designed as a fish farm. In fact, when Gerry helped write the hit song “Little Rock” with Reba McEntire, she was startled by the size of his catfish. Reba was worried that the fish were too fat to live in the pond. A unique property with its “natural” environment…creates a retreat-like quality. Oak, Ash, Pine and Evergreen trees boarder all four sides of this property providing an abundance of wildlife and creating a screen of privacy and seclusion.

All three homes have a rustic earthy exterior, with a modern-contempary interior. The homes vary in size, with the two-bedroom main house having 1,185 square feet. The smallest (guesthouse) containing 400 square feet and the home Gerry uses as a writing studio has 680 square feet. All of them have open inviting floor plans, dark wood flooring, vaulted ceilings, exposed beams, wrap-around porches that protrude out over the ponds and large windows that allow an abundance of natural light.

The home’s natural surroundings provide a sanctuary that allows creativity to flow while also providing functionally for the modern family. Busy writing songs, playing golf and working on a memoir titled “Country Music Causes Brian Damage.” Gerry fines it difficult to manage homes in Nashville, Pegram and Florida…creating an opportunity for someone to snatch-up this great retreat. YouTube Video of the Pegram Palace

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Buying a home may never get any cheaper

 Many housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market. With Nashville home prices down over 30% since 2007 and mortgage rates at historic lows, homes have never been more affordable — but it won’t stay this way long.

I agree with the economist who expect home prices to flatten out by the third quarter and start climbing by next year…slowly, but surely. Also, homebuyers should have better access to mortgages as they get their finances in order and improve their credit scores.

Prospective homebuyers who’ve been sitting on the fence should consider the old saying “You make money when you buy your house, not when you sell it”. For those who are in a position to buy, and are looking for a new home…I believe the time is here to maximize your investment.

Dwight O’Neal, RealtyTrust Auctioneers, LLC

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