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It also has under contract more building lots throughout the community. David Waronker, President of CBD Real Estate, believes its investment in Horseshoe Bay will be significant not only for his company but also for its many future customers.
Amongst the assets acquired by Desert Mountain Land are vacant land and lots ranging in size from 7 acres to acres, including homes, farm properties, and commercial building from multiple county towns including Limestone, Presque Isle, Madawaska, Washburn, Plantation, and Caribou. Part of the sale included the former House of Pizza Restaurant located on Maine Street in Madawaska as well as a large industrial building located at Water Street in Caribou. Desert Mountain Land and its partners acquired the County properties for both immediate and future resale.
According to Desert Mountain Land President David Waronker, the company intends to acquire more county properties throughout the remainder of the year and into The land is located just north of Jungo Road, approximately 32 miles west of Winnemucca, the County seat of Humboldt County. Here, CBD is developing both properties into two equestrian themed ranch sites.
Clydesdale Ranch will be 15 ranches ranging in size from 40 acres to 65 acres, while Palomino Ranch will have 15 0r 16 ranch parcels ranging in size from acres. Both ranches will be ready for marketing by March, CBD expects to grow in Northern Nevada during the next three to four years. Hall said the company, which was founded in by David Waronker, a Celebration resident and owner of the Florida Seals professional ice hockey team, has been accumulating land all over the United States over the past six years.
Waronker had said in a press release prior to the auction that he had started the company for the sole purpose to make real estate ownership and investment simple, affordable and more than just a dream for everybody. In all, pieces of land in 19 states were on the auction block and available for bidding. Some 70 of the properties for sale were in Florida, one of the hottest land markets in the country.
Thomas Guss, who owns a real estate firm in New York City and is an active investor in property, made a special trip to Florida to attend the auction.
Guss said the auction gave him a first-hand opportunity to get an idea of land prices in Florida. He added he was looking for bargains, land he could buy at auction for less than he could through other sources. But bidding on property without getting a chance to see it does have its dangers.
But even if you buy something that only increases in value 8 to 10 percent, that is still a liquid investment. Hall said pamphlets with a complete listing of the properties up for auction were sent out to perspective buyers weeks before the event was held. That was done to give interested investors a chance to research the land they were interested in. Ron Profetta, who is in the business of buying and selling land, came from upstate New York looking specifically for land values in Florida.
But not everybody attending the auction was looking to make a killing in the real estate market. It is approved for single family homes. CBD is working with the County and City to design the expansion of Powerline Road and a sewerage pumping station on the land. Thanks to the financial strength of CBD and its equity partners, the project although delayed by slow approvals and a slowing economy, will be a fabulous future development of quality, affordable single family homes in a neo-traditional style housing development.
Liberty Bluff is designed by the national engineering giant Kimley Horn. Lots will range in size from foot frontages designed in traditional neighborhood flair. Construction is expected to commence in the winter of The project has taken almost four years to obtain approvals. The project was part of a comp plan amendment, and suffered through a water moratorium.
With the comp plan in place, and the expansion of the potable water capacity complete, the development will soon be ready to go. A cautious, savvy crowd watched, bid, and bought building lots and land from Florida, Arizona, New Mexico, Oklahoma, Colorado and Texas. So, I registered on eBay last week, did my research and bid from home. I should have bid higher, but got cold feet.
I had no intention of buying land, but the deals were just too good to pass. The knowledgeable staff explained to me everything I needed to know about bidding and buying. The paperwork was easy to sign. From the time I bid, I paid for and closed my parcel in twenty minutes.
What a great souvenir I get to bring back home from my weekend in Houston! The privately held company with their large buying power owns over real estate parcels at any given time and sells their assets monthly at various locations across the USA at absolute auction.
COM sold over parcels of land. They expect to sell properties in COM will host an auction in Atlanta Georgia. For our Houston auction, most of our properties were from Texas, Arizona, and the Midwest and southeast. We try to sell what the local buyers want, land close to home. But, as many of our buyers follow us across the USA, we always have assets from distant locations to satisfy the palate of all bidders in attendance.
We buy land in all 50 states, and listen to our customers and try to find land where they want it. We have a buyer who only buys land in North Dakota. She has bought 20 parcels of land from us over the past two years. It is so rewarding to see people who never bought real estate come to our auctions, bid on land, if needed take our guaranteed on the spot financing, and instantly become land owners.
We start them off on their path to financial success. We make believers out of everyone who buys at our auctions.
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