Developer Homes, Live/Work & Loft Units, And Homesites Up For Auction Development Opportunities – 2 Undeveloped Land Parcels And 3 Townhome Pad Units

The developer of five different types of properties has decided that it is time to sell the 10 Single-Family homes, 20 Live/Work and Loft Units, 79 homesites, 3 Townhouse Pad Units and 2 undeveloped Parcels. But, they are taking a non-traditional approach. They have determined that a real estate auction is the best course of action.

(PRWEB) October 15, 2006 -- If you ever wanted to live in a private community or develop in Michigan -- now may be the time to act.

The developer of five different types of properties has decided that it is time to sell the 10 Single-Family homes, 20 Live/Work and Loft Units, 79 homesites, 3 Townhouse Pad Units and 2 undeveloped Parcels. But, they are taking a non-traditional approach. They have determined that a real estate auction is the best course of action.

These properties are conveniently situated in southeast Michigan. Town Commons, in Howell, is located off of M-59 (Highland Road) between Byron Road and Oak Grove Road (Michigan Avenue). Copperleaf is located on Cunningham Lake Road in Brighton. Legato Point is located in Walled Lake, while Legato at Brickley Place and Webster Place are located in Ferndale. One undeveloped parcel is located in Hamburg.

Legato Point in Walled Lake, and Legato at Brickley Place and Webster Place in Ferndale offer Live/Work Units and Loft Units. A Live/Work unit is a relatively new concept in the US, but has been popular in Europe for many years. Owning a Live/Work unit negates the hassle of a commute, since your business is located just downstairs from your residence. These homes are ideal for small businesses such as Florists, Lawyers, Architects or even a Cyber-Café.

Why Auction?

The developer engaged the renowned firm of Christenson-Elms to handle the marketing and sales process for these final sales. Specializing in real estate auctions of distinctive properties, the firm has closed more than 18,000 transactions in high-end communities in its 16 years of existence.

Auction of residential real estate---especially high-end properties---has risen steadily since 1980. As reported by the Gwent Group, $10 billion worth of property was sold by auction in 1980. Real Estate auction sales for 2001 were in excess of $54.5 billion.

Properties for Auction

Out of the 114 combined properties offered, 26 will be sold "absolute." Absolute means the seller must accept the highest price on those 26 properties, regardless of the bid price. Successful purchasers are granted the opportunity to select the property of their choice out of a group. This is called High Bidders Choice. The remaining properties are structured to sell reserve, unless announced otherwise at the auction. Selling reserve means the seller can accept or reject the price.

Town Commons located in Howell has a total of ten single-family homes, 46 Homesites, three Townhome Pad Units, and a 22.76 +/- acres land parcel available for purchase. Three Homes and ten Homesites will be offered absolute to the highest bidder regardless of price. The current prices of the Homes range from $256,900 - $329,900 and the Homesites are priced from $57,500 - $97,500. The 22.76 +/- acres and the Townhome pad units will be offered reserve.

Copperleaf located in Brighton has a total of 33 Homesites available for purchase, seven of which will be sold absolute. These homesites are currently priced from $174,900-$189,900.

Legato Point in Walled Lake will include 10 Live/Work & Loft Units of which 3 shall be offered absolute to the highest bidder. The Units are currently priced from $159,900 --$249,900.

Legato at Brickley Place and Legato at Webster Place in Ferndale will include 10 Live/Work and Loft Units available for purchase. The absolute offerings will be three of these units located either in Brickley Place or in Webster Place. The Units are currently priced from $159,900 --$249,900.

A 39 +/- acres land parcel approved for 300 units located in Hamburg will be offered reserve.

Auction Details:
ttThe auction will be held on Saturday, November 4, 2006, at the Genoa Woods Executive Conference and Banquet Center, located in Brighton, Michigan. Registration starts at 11:00 am. There will be a bidder's seminar from 12 noon -- 12:30 pm. The auction will commence at 1:00 pm.

In order to bid, a cashiers' check in the amount specified below for the type of property you wish to purchase must be made payable to yourself and is required for each property you plan to purchase.

Copperleaf, Brighton, Michigan:
For Each homesite: $2,500.00

Town Commons, Howell, Michigan:
For Each Homesite: tttt $2,500.00
For Each Single Family Home: $10,000.00
For Each Townhome Pads Unit: $20,000.00
For Undeveloped Land of 22.76 +/- acres: t $50,000.00

For all Legato Live/ Work & Loft Units:
For each Live/Work or Loft Unit: $10,000.00

Undeveloped Land Parcel, Hamburg, Michigan:
For Undeveloped Land of 44.44+/- acres: t $50,000.00

If you are unable to attend the auction, but still would like to purchase one of the properties, you can make an offer prior to the event. For more details call the auction center at 1-800-994-4945.

For More Information:
Tabbatha Parks-Page
Christenson-Elms Auction Company, Inc.
50 South US Highway One -- Suite 313
Jupiter, FL 33477
Tel: (561) 575-4339 , ext 12
Fax: (561) 575-4377
www.christenson-elms.comtttttttttttt

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