Premier market heating up

At J. P. King, we have long been known for our rich track record for selling some of the nation’s finest properties. These celebrity and executive properties, often referred to as “the toys of the rich and famous,” have attracted interest nationwide and abroad. We are drawn to these premier homes to see the creativity, quality and beauty of such residences.

But in today’s market, value is difficult to define on any property, much less on these specialized luxury homes. If you overprice a property, it can linger on the market for years. If it sells quickly, you’re left to wonder if the property was under priced and if you could have walked away with more. With an auction, the market value is reflected in the bidding on auction day. Sellers can be confident they received the current market’s best price, and it also assures buyers they didn’t pay too much for the property.

Over the past few years, we at J. P. King have seen a rise in bank-owned properties and development closeouts, but this summer, we have seen a rise again in premier properties. Could this be the first sign of a recovering market?

Our summer calendar has some spectacular homes that cover everywhere from Florida to Alaska, and the auctions begin as early as this Saturday. Whether these properties are in your budget or not, they’re still remarkable homes to see.

On Saturday, June 26, we will auction Stanley Plantation in Eclectic, Ala. This home is a true Southern plantation on 857± acres and built in 2003.

On July 20, the Sisters, Oregon Mountain Retreat will sell absolute. This beautiful home sits at the foot of the Three Sisters in the Cascade Mountain Range on 192± acres. With floor-to-ceiling windows, it has beautiful views of its surroundings.

Just two days later, on July 22, we will auction the Double H Ranch in Sheridan, Wyo., which will also sell at absolute pricing. It is situated at the foot of the Big Horn Mountains and is adjacent to the historic equestrian community of Big Horn. The four-bedroom, seven-bath home is on 37± acres.

On August 12, we will also offer the Kenai River Estate. I am particularly excited about this sale because, in my 30 years at J. P. King, I have traveled to 49 states, and J. P. King has marketed properties in 49 states. With this home in Kenai, Alaska, it will mark J. P. King’s work in all 50 states. To mark this occasion with such a magnificent home is an exciting opportunity for our company.

Not all luxury properties are limited to these glamorous homes. We have a yacht this summer, too.

We’re scheduling other premier properties that I hope to be able to tell you about soon. If you find yourself in any of these locations, I would love to see you at a sale so you can see what the auction industry is all about. Hopefully this is a sign of what’s to come with the real estate market — recovery. What do you think is to come with the real estate market?

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~ by Craig King on June 24, 2010.

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