Stately Franklin Tennessee Home Goes to Auction

 Repurposing the Past – take classic Southern Colonial architecture, place  it in a peaceful and quiet countryside setting, add in miles of black plantation fencing, a few horses, and a natural environment that creates a retreat-like quality…all surrounded by a chess-board of working horse farms and grand estate homes. Presto…one of Franklin’s most character rich homes has been created, and now it’s being made available to the public.

  •  11,965 sq. ft. (5) bedroom, (8) full baths, (3) half baths
  • Master suite w/ venetian fireplace, coffered ceilings & coffee bar
  • Mahogany Paneled Elevator servicing all floors
  • Theater & Billiard Room w/ private Wine and Cigar room
  • Lower Level Private-Living-Quarters
  • Stables and Paddocks to accommodate horses
  • Outdoor Limestone Fireplace
  • Kitchen includes venetian plaster walls, butler’s pantry, walk-in food pantry w/ custom shelves, copper hood, Viking appliances, granite, custom cabinetry w/ in-cabinet and under cabinet lighting

 For Details:       www.8209PennWayCourt.com

This opportunity to purchase 8209 Penn Way Court Franklin Tennessee is a limited-time offer, and will not be extended beyond May 12, 2012 (Auction Day).

 Auction:       Saturday * May 19, 2012 @ 12:00 noon – cst

————————————–

Dwight O’Neal  (615) 390-2727

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Commercial Land Auction Nashville Tennessee

8.24 Acres – High Visibility w/ Strong Traffic Count

Zoned CS (Commercial Services)

Thursday – May 24th @ 12:00 noon

1321 Antioch Pike, Nashville

This property is a vacant lot, created by land assemblage and containing 8.24 +/- acres, that fronts Antioch Pike approx. 278 ft. then continues back and widens to an average width of 300 ft. until joining and fronting Jansing Dr. approx. 320’. This commercial site has adequate access and all necessary utilities are available with sufficient capacity for most types of commercial development. The majority of land uses along Antioch Pike surrounding this property are commercial uses, which include: Walgreens, Office Complexes, Restaurants, Sam’s, and Hotels. The property is in a strong trade area with easy access to I-24, and approximately 3.5 miles from Nashville’s Central Business District and approx. one mile form the Metro Airport.

The property is zoned CS (commercial services), which is intended to provide opportunities for a wide range of commercial uses that may include: retail trade, consumer services, restaurants, entertainment, financial, office / Warehouse, consulting and administrative services.

http://reporting.loopnet.com/report/fb6a4a4c-f740-4d57-ad7c-898158808899

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Going once, going twice, sold … at auction in Brentwood TN



This Governors Club home at 13 Colonial Winstead Drive will be offered for aution this summer by Realty Trust Auctioneers.

  Alternative real estate option works well for some
By KERRI BARTLETT

Brentwood Home Page
Real estate auctions seem to get a bad rap. Many times when the word “auction” is mentioned, other words come to mind such as distressed property, foreclosure, or must sell Grandma’s estate quickly.

The assumption that only distressed properties enter the auction arena in order to get out of an unfavorable situation no longer rings true.

“It’s a great way to generate competition for homes that are not getting attention from the regular listing process in order to find ready and able buyers.”

DWIGHT O’NEAL

Dwight O’Neal, owner and president of Realty Trust Auctioneers, LLC, has been in the business for 25 years and says that “auction” doesn’t have to be a derogatory term. It can actually be a great alternative to the traditional real estate buying and selling process.

Due to extensive marketing research and time sensitivity, auctioning can be a positive alternative for selling a home quickly. O’Neal said that the majority of clients who decide to give auctioning a try want to try a non-traditional approach.

“I get many clients who are running out of rope and put out by the conventional process and are looking for an alternative, which seems to be the common thread. They are looking for new ways to get their house seen so that someone can buy it.”

However, “auctions are not for everybody,” warns Will McLemore, president of McLemore Auction Co.

“Auctions are a good way to sell property that has a lot of equity, but there are owners who are not good candidates for an auction,” he said. Those include owners who do not have equity in their home and owners who are very price sensitive and cannot accept any price other than market price.

“No one is guaranteed a specific outcome from an auction,” said McLemore, who has been in the business for 13 years.

Many discover the auctioning process online through research or by word of mouth from friends and colleagues who have already tried it, O’Neal said.

However, in order for the home to be seen by willing and able buyers, there is much more to the auction process behind the scenes, which includes extensive marketing research and planning.

When someone approaches O’Neal to sell a property, his company conducts extensive market research called “accelerated marketing” in order to pinpoint the specific demographic that would most likely be interested in buying a property, referred to as the “target market.”

For example, Realty Trust Auctioneers usually works in the high-end real estate market whose clients consist of homeowners wishing to sell high-priced homes. If a client wants to sell a $1 million home, the firm charges about a 1% marketing fee to complete a comprehensive demographic analysis of target buyers.

McLemore’s auction company also performs extensive marketing analysis methods to ensure sellers that target buyers are identified and contacted about auctioning their home.

This Windstone home sold at auction for $1,680,000 in January.

Auction firms typically use demographic marketing companies to gather and analyze such data as net worth, household income, and a potential buyer’s preferences; these can include are they more likely to buy a lake home or a home on a golf course as well as how many potential buyers have recently searched “luxury homes” on the Internet.

Once the target buyer is identified by gathering and analyzing the demographic information, the company contacts the target buyers by mail, phone and/ or text about the home in order to alert them of its availability and auction.

“It’s a great way to generate competition for homes that are not getting attention from the regular listing process in order to find ready and able buyers,” O’Neal said of the auctioning process.

The auction professionals shared specifics on why auctions work:

Auctions create a sense of urgency

If an auction is set for a certain date, potential buyers will begin preparing to buy the home. Through the personalized marketing plan executed by most auctioning firms, potential buyers are contacted ensuring that the most appropriate buyers are notified and present, O’Neal said. People who are serious and have enough money to buy the home are identified and most likely present at the auction.

Auctions generate excitement

Buyers often are trying to get the best deal possible and believe that they can do so at an auction, which makes the auction process seem attractive to potential buyers. “It’s definitely true that auctions make buyers more serious about a property being sold than they ordinarily would be,” McLemore said.

Auctions generate competition

If a property is worth about $1 million and bidding starts at $700,000, the participants will begin bidding against each other creating competition to purchase the home. Therefore, with 10-12 people bidding, the property will most likely sell for the original $1 million or more. Many times, competition alone will drive the price up, even though homes up for auction reflect the market value. Prices are not altered in any way or driven down due to the auctioning process; homes are valued at what they are worth depending on the market.  

Conditions of sale are set in advance

When a home goes up for auction, the playing field is leveled because certain terms and conditions are set forth, which cannot be altered. Plus, a date is set on which the property will be sold. It seems to remove a lot of the guesswork and moves the sale process along more quickly, O’Neal said.

McLemore shared that such conditions could include the property being sold “as is” with a deposit due at auction and closing date set within 30 days of auction for example.

A quicker process

On average, it takes a home being sold via auction about 60-70 days on average to go from the date of listing to the date of closing. This can be attractive for sellers.

Jaye Thomas, a partner of Timberline Land Development of Franklin, participated in the auctioning process in 2009 when the economy crashed and the real estate market was unstable. He had a few properties that weren’t selling through his business and decided to explore his options in the auctioning arena upon his business partner’s suggestion.

 “I used to think that an auction was something that people did when they were desperate and in trouble. However, now I realize that it is just another tool in your sales tool kit.” 

JAYE THOMAS

 “I used to think that an auction was something that people did when they were desperate and in trouble. However, now I realize that it is just another tool in your sales tool kit,” Thomas said.

Thomas said he was especially impressed with the timeframe of auctioning as compared to using more traditional methods to sell his properties and came away very satisfied with the auctioning process because it was all done in a day.“I found the process to be cost effective and time efficient as well as ‘user-friendly’ because with the personalized marketing campaign, I barely had to do a thing,” added Thomas, who worked with Realty Trust Auctioneers. Because his property moved quickly and at a fair and reasonable price with a profit, he would do it again, he said.

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Creating Competition in Real Estate

press release

April 5, 2012, 9:55 p.m. EDT

Auction Sells Smallest Town in America, Buford, Wyoming for $900,000

Auction Attracts Attention From 110 Countries and Throughout the United States

 TULSA, OK, Apr 05, 2012 (MARKETWIRE via COMTEX) – Today, the town of Buford, Wyoming sold for $900,000 to a single buyer from Saigon, Vietnam. The auction, which captured the attention of the world, attracted viewers and bidders from 46 countries to the live auction which took place on-site in Buford and online at auctionnetwork.com.

“This is a bitter sweet day for me, but in reality, I couldn’t be happier,” said Don Sammons, seller and single resident of Buford. The auction company did an excellent job and the auction exceeded my expectations. It was so simple for me.”

Buford is known as the “The Nation’s Smallest Town” with a population of one. It’s also the town with the highest elevation on Interstate 80 at 8,000 feet above sea level.

The high bidder at today’s auction flew in from Vietnam specifically for the event. “Owning a piece of property in the U.S. has been my dream. When I read an article about the auction of the Buford town, I was very excited,” the high bidder shared through his Cheyenne-based real estate broker. “So, I decided to make a trip to Wyoming, to bid on-site. It was a long journey but I made it at last. It is the American dream!”

Sammons remarked, “I met the new owner and I saw in him the same passion that I had when I originally came to Buford 30 years ago. I look forward to watching him make it his own.”

“Every time we sell an unusual property, we realize the true power of auction,” said Pam McKissick, company CEO. “In this case, we attracted interest from 110 countries and brought bidders from across the U.S. and around the globe to the auction to compete to own the property.”

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Tennessean Article February…home prices hit bottom & home sells sky-rocket

The median single-family home price in Middle Tennessee dropped last month to $157,500, the lowest price since 2005.

“For months we were approaching a bottom in prices, but I think the rubber has met the road. I think we’re there now,” said Dwight O’Neal, owner of Nashville-based Realty Trust.

By all accounts, home buyers have taken notice.

January’s 1,116 single-family homes sold in the nine counties covered by the Greater Nashville Association of Realtors marked the best January in four years.

Kendra Cooke, the association’s president, said the nimble sales were partially attributable to a “vibrant” first-time homebuyer marketplace, spurring more affordable homes to sell and pushing down the average sticker price.

Furthermore, the association trumpeted the sales tally as an “encouraging start to the year.”

Last month’s single-family home sales jumped 21 percent from the year-earlier levels, though the total remains some 200 sales away from the January 2008 level.

Single-family home inventory shrunk 13 percent from January 2010, but 10,971 homes remain on the market, a few thousand away from healthier levels, real estate experts said.

Still, Realtors said stringent lending standards and still-recovering consumer confidence are lingering in Middle Tennessee, despite the improved sales.

“Home prices will start going up once we finally burn off more inventory,” O’Neal said. “I think that switch has flipped, and people are buying homes again.”

Condo sales, meanwhile, increased 22 percent from last January and the median condo price was $140,325 — up nearly 7 percent from a year earlier.

Reach Bobby Allyn at 615-726-5990 or ballyn@tennessean.com; Follow on Twitter @tnbiz.

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$26B deal for homeowners…one that could final have an impact

The States Attorneys Generals and five of the nation’s biggest banks have agreed to a $26 billion settlement that could provide help to nearly 2 million current and former homeowners hurt by the bursting of the housing bubble, The New York Times reports.

The deal is part of a broad national settlement created to halt the housing market’s downward slide and hold banks accountable for foreclosure abuses.

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Selling At Auction…Atlanta’s Tallest Skyscraper

Selling at auction isn’t reserved for small or distressed properties, but rather anyone looking to garner the highest and best price reguardless of market conditions. The tallest skyscraper in the southern United States is going up for public auction. The 1,023-foot Bank of America Plaza in Atlanta is scheduled to be auctioned Tuesday. The Atlanta Journal-Constitution reports the building’s landlord, Los Angeles-based BentleyForbes, bought the high-rise at the height of the real estate boom for $436 million.

Nashville based RealtyTrust Auctioneers is one of the most promenient commercial real estate auction firms in the South. RealtyTrust Auctioneers, LLC is located at 3200 West End Ave. Nashville, Tennessee, and owned by two of Nashvilles leading real estate brokers…Dwight O’Neal and David Coulton.

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8.4% CAP RATE – Knoxville Office / Single Tenant, $6.2 Million

This project was a built-to-suit office building for the State of Tennessee (AAA Bond Rating), with a ten (10) year guaranteed lease. Lease term June 2009 – June 2019.
The sale also includes a site ready pad w/ completed storm water dention and utilities suitable for another 50,000 s.f. building.
This property is located approximately one (1) mile from I-640, and less than two (2) miles from downtown Knoxville and the University of Tennessee campus.

The property is located in a mostly industrial area on a arterial road, which runs directly into the University of Tennessee campus

Property InformationLoopNet Listing

  • $6,200,000
  • 56,220 SF
  • $110.28
  • Office
  • Institutional/ Governmental
  • Investment
  • 8.40%
  • 100%
  • 1
  • B
  • Single
  • 2009
  • 9.11 AC
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Last Chance…Franklin Farm being Auctioned Saturday Feb. 4th

Welcome HomeThe (10) acre gated horse farm owned by country music icon – Terri Clark, will be selling at auction this Saturday morning @ 10:30 a.m. This beautiful Williamson Country farm is located @ 2031 Maple Lane in Franklin Tennessee…about fifteen miles south of Nashville.

YouTube Video of Farm

For more details and information, please contact the exclusive marketing broker:  RealtyTrust Auctioneers, LLC – Auctioneer / Broker Dwight O’Neal (615) 390-2727 or visit our website www.RealtyTrustAuctions.com

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SOLD…before the Auction started

Offers starting coming in almost as soon as the aggressive marketing campaign started. Selling at the top-side of todays market, and exactly where RTA consultants advised. The owners of this gated countryside villa had tried the convential marketing approach before turning to the accelerated marketing program provided by luxury real estate firm RealtyTrust Auctioneers. Within days of turning the property over to RTA, it was under contract and on its way to closing (Cash & No Contingencies).  YouTube Video of Property

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