All Four Forestry Properties Sold in Auction

April 20th, 2008 All Articles, McClellanville Real Estate Daniel Bates

I had written last October about the US Forestry auctioning their 4 properties in McClellanville. The 3 homes and 1 lot were initially priced higher than expected and received very little interest and no bids. They were taken off the market for a brief period and reintroduced at much more affordable prices. This was an internet auction, once a bid was placed the price rose by predetermined increment for the next bidder. Interest was much higher at these new prices and all four properties were sold this weekend at the close of the auction. Here is a review of the properties and what they sold for, although it is important to keep in mind that these homes have not been lived in for quite a while and will need some work to bring them up-to-date.
735 Morrison Street

Tidal Waterfront 1750 sq.ft.

Starting Bid of $340,000

Sold for $340,000

161 Liberty Street

1190 sq.ft. built in 1940

Starting Bid of $140,000

Sold for $140,000

941 S. Pinckney Street

1390 sq.ft built in 1964

Starting Bid of $125,000

Sold for $145,000

Vacant Lot on Liberty

3/4 acre building lot

Starting Bid of $80,000

Sold for $80,000

These were truly some great deals, but there are still plenty of other great deals on the market available today without waiting and without the restraints of government auctions. It’s a buyer’s market out there with high inventory, low prices, good interest rates, and many sellers willing to make concessions to sell their home. We’ve seen a huge increase in the number of buyers over the past few weeks and offers are being made and properties getting snatched up. Don’t wait for all the great deals to be gone, give your local real estate expert a call today to schedule a tour or search all the local MLS listings for free here.