With summer officially over and all things fall and winter on the horizon, many are looking to make the most of the impending cooler weather. Vacationers are starting to set their sights on hitting the slopes, which is why we are checking out a prime ski resort property.
Located in Vernon, New Jersey on 140 sprawling acres, Hidden Valley is a premier ski resort that has hosted a plethora of vacationers and tourists since 1976. A ski-lover’s oasis, this property boasts a vertical drop of 620’ feet, four (4) lifts, twelve (12) lighted trails and 100% snowmaking capabilities. Over 25,000sf of upgrades include a main lodge, rental and maintenance facilities, and much more. This advantageous opportunity presents all furniture, fixtures, equipment, trade names, goodwill and other rights as well as a bar/restaurant with liquor license as part of the sale. This vacation spot also offers the potential of being re-established as a year-round resort by the various improvements made on the top of the mountain on the banks of a 10-acre spring-fed lake. With an ideal location less than an hour from Manhattan, this property is going to be a solid investment for the lucky winning bidder. Auction date is October 1st. Final bid subject to court approval.
With summer now at a close, real estate industry professionals are assessing the steady progress being made in the property market. With interest rates still historically low (though starting to climb) and bidding wars actually making a comeback, one can get cautiously optimistic that the economy is on the upswing.
The most notable sign of this was the incredibly low amount of inventory on the market. Sparse offerings that have been witnessed in California before the summer began are now being seen in several major markets. Realtor.org reports, “July’s real estate market data shows the nation experienced a 5.24 percent decline in housing inventory, which is the second month in a row with year-over-year inventory declines in the single digits…While California markets have dominated the list of markets with the largest housing inventory declines in the first part of 2013, they have been replaced by a new set of market leaders including: Detroit, Michigan; Boston; Denver; Honolulu and Naples, Florida. The large decreases in the for-sale inventory in these markets suggests the beginning of a housing market recovery process similar to what was observed in Florida in 2011, and in California in 2012 and 2013.” Read the rest of this entry »
This week, one luxury property in particular is turning our heads. In September, Fisher Auction Company is offering the famed former Versace mansion on Ocean Drive in Miami Beach, Florida.
Also known as Casa Casuarina, this oceanfront estate exudes luxury and elegance. At 23,462sf, this lavish property boasts a suite of almost unfathomable amenities that includes a 54-foot long mosaic tiled 24k gold-lined pool, curved windows, hand-painted walls, ceiling frescoes, and a prime location in the heart of Miami Beach’s famed Art Deco District.
Built in 1930 and nestled on a 19,500sf lot that directly faces the Atlantic Ocean, this 10-bedroom, 11-bathroom property is the definition of elegance at its finest while maintaining its historic and iconic character. Auction date is September 17th.
For the past several months, we’ve all been hearing the good reports on the housing market – prices and sales on the rise, lower inventory and interest rates, slowing foreclosures – a definite step in the right direction for real estate overall. This upswing in the property market brings with it a resurgence of ‘house flipping’ – a practice that went viral before the housing bubble burst in 2008, where investors buy a distressed property to fix up and put back on the market for a profit within 6 months. ABC News reports, “According to RealtyTrac, flipping is making a comeback in this housing market. The market is currently on track to hit record highs this year, up almost 20 percent from last year.”
The fact that housing costs haven’t topped out yet is also a lure to flippers. “Prices across the U.S. are rising at their fastest clip since the height of the housing bubble in 2006, up 12.1 percent in April from a year ago, according to the Standard & Poor’s/Case-Shiller 20-city index. But prices are still at least 25 percent below peak levels in many markets, which is giving flippers an incentive to keep buying and selling aggressively,” according to Anjli Raval of Financial Times. Read the rest of this entry »
Summer is finally here, and with it comes the desire to be near water, regardless of body type – ocean, lake, river, bay – something cool and refreshing with a calming visual beauty. This week, PA is looking at some choice picks that satisfy your aquatic needs.
Check out Hudson & Marshall’s oceanfront condo in Pompano Beach, Florida. Boasting 1,140 square feet with 2 bedrooms and 2 bathrooms, this property is a beach lover’s sanctuary as it’s just a stone’s throw from the sandy dunes of the Atlantic Ocean. Located in the Admiralty Towers, this condo community offers amenities such as 24-hour security, covered parking, picnic areas, and tropical pools. Auction date is June 29th. Read the rest of this entry »
Don Erler, CAI, AARE, Senior Advisor and Real Estate Auctioneer, Sperry Van Ness/Ward Commercial GroupMay 23rd, 2013 by engineadmin
Spotlight on . . .Don Erler
We recently spoke with Don Erler of Sperry Van Ness/Ward Commercial Group. Don belongs to the Sperry Van Ness National Accelerated Marketing Team and is Secretary to the Board of the Asset Recovery Team (SVN-ART.). With clients that include financial institutions, state and federal courts, consultants and private investors, Don’s diverse experience in the real estate auction market has made him an authority on surplus dispositions, liquidations, foreclosures and other accelerated marketing endeavors. Our discussion includes topics on the current economy, online and social media marketing, and what lies ahead for the summer market.
PA: Tell us about Sperry Van Ness and your role with the company.
DE: I have been in the real estate auction profession for more than 26 years, joining Sperry Van Ness (SVN) when our agency, Ward Commercial Group, joined SVN 2004. Since joining SVN, I have continued to work for Sperry Van Ness Ward Commercial Group as an active real estate auctioneer in our region (primarily in the Midwest) serving my clients that include banks, the courts, developers and private individuals. I work with the Sperry Van Ness national auction footprint, SVN Auction Services, coordinating efforts nationwide with other real estate auctioneers in the Sperry Van Ness system and participating in the national and international auction events sponsored through AuctionPoint. SVN continues to expand its auction marketing coverage with the rollout of SVN Auction Services in many of the 180 markets now served by Sperry Van Ness commercial brokerage offices, an activity in which I am an active participant.
PA: How would you say the economy over the past 5 years has affected your business?
DE: For real estate auctioneers with solid past relationships with banks and other institutional sellers, Read the rest of this entry »