| Send2Press.com • Today is Monday, February 13, 2012 | A Member of the Neotrope News Network |  |
|
|
NEWS ARCHIVES : U.S. and World News :
Auction and Online Auctions
News
|
Press Release:
Real Estate Auction Could Yield a Bargain for Rare Diamond Head Oceanfront Land
 Why an auction? "Real estate auctions force buyers into action - if they are interested, they have to act now," said Stephen Cipres, Elite's co-founder. "This is not a distress sale, but the seller is motivated. They are expecting to get bids above the minimum, and buyers will be looking for a good deal." Many REALTORS(R) consider this area to be the most desirable of all Oahu real estate. Celebrities, corporate executives, and international jet-setters join wealthy families from Oahu in this pocket of luxurious homes on Diamond Head Rd. The lot to be auctioned is in the most desirable stretch of just 8 oceanfront parcels between two secluded beach parks, overlooking the beautiful reef-filled waters. Close to Waikiki but sheltered from the city by dramatic Diamond Head, whales and surfers share the water and sunsets are magnificent. Cipres points out "A spec-built house three lots away on one side recently sold for $10.8 million, and a billionaire is currently building a house 3 lots away on the other side after paying $6.8 million for a property just to tear down the existing houses. We know you can build a spectacular home on this lot for $2 million turn-key, so this offers quite an opportunity for someone to build their dream home or for an investor to build a home for $2 million and sell it for about $10 million." While sales have generally been lackluster across the state and the nation, the opposite is true of upscale Oahu real estate, which had more sales of properties over $5 million in the first three months of 2008 than in any quarter in history. "This property is what's known as a CPR, which means it is divided into two lots that can be owned separately, each of which can have a legal house on it. Or buyers may want the entire parcel. So we're giving bidders three options" explains Cipres. "They can bid on the oceanfront 9,146 square feet with a minimum bid of $2.6 million, the 5,000 square foot ocean view portion with a minimum bid of $1.2 million, or the entire 14,146 square foot property with a minimum bid of $3.6 million." The live auction is scheduled for Saturday April 19th on the property, with registration beginning at 11 am. Valet parking will be available, and well-known auctioneer Joe Teipel will handle the live bidding, including the charity auction that precedes the real estate auction. "Bidders can also place a bid at our online real estate auction website, www.elitepropertyauctions.com" adds Elite co-founder Paul Mayer. "This is a convenience for anyone who can't be here in person. Extensive property information is available online, and it takes just seconds to register and bid." The online auction ends April 15th to allow Elite personnel to verify bidders' identity and to confirm their bid and ability to purchase, and then the high bids will be entered into the live auction. One benefit of bidding online is that the seller is providing a $20,000 bonus to any ultimate buyer who bids online, although this is also available to live auction buyers who register by April 18th. While Elite specializes in upscale Hawaii real estate, their online auction site www.elitepropertyauctions.com also has more affordable real estate auctions, with houses, condos, income property, and land, some with starting bids as low as $1,000. "These are not foreclosure auctions, just a different way of marketing real estate for a motivated seller who wants to sell fast. An auction compresses the time frame to sell and the opportunity to get a bargain attracts attention in a crowded market where there are more sellers than buyers," says Mayer. Property information, bidding, and bidder registration documents are available at www.elitepropertyauctions.com, and interested parties can request a free Property Information Package on CD with even more information. Elite Pacific Properties is a real estate brokerage firm specializing in upscale properties, offering buyer and seller representation, property management, and real estate auctions for properties located throughout the state of Hawaii. IMAGES: *(PHOTO 72dpi: www.Send2Press.com/mediaboom/08-0411-EliteProp_72dpi.jpg) *(PHOTO 300dpi: www.Send2Press.com/photobay/08-0411-EliteProp_300dpi.jpg) *(Photo Caption: Most exclusive Oahu oceanfront land to be sold at auction.)
NEWS SOURCE: Elite Pacific Properties
Send2Press® is the originating wire service for this story. Terms of Use. © Elite Pacific Properties. All trademarks acknowledged.
THE CONTENT OF THE ABOVE PRESS RELEASE WAS PROVIDED BY THE NEWS SOURCE (Elite Pacific Properties), WHO IS SOLELY RESPONSIBLE FOR ITS ACCURACY. FOR QUESTIONS ABOUT THIS STORY CONTACT THE NEWS SOURCE AND NOT THIS WEBSITE.
Journalist Resources:
Download original press release as issued including media contact information for Elite Pacific Properties.
Additional News Releases on Similar Topics:
|
Subscribe to Send2Press®
Daily News Releases by E-Mail
Follow Send2Press on Social Sites: 
Additional News from
Elite Pacific Properties : » Veteran REALTOR Bob Vieira Joins Elite Pacific Properties as Broker In Charge » Bondroff Realty International Merges into Elite Pacific Properties » Prominent REALTOR Kelly Mitchell Joins Elite Pacific Properties as Partner » Real Estate Auction Could Yield a Bargain for Rare Diamond Head Oceanfront Land » Slowing Housing Market Drives Hawaii's Largest Real Estate Auction
|
||||||||||||||||||||||||||
View our news channels by industry topics, by U.S. States, or by selected U.S. Cities:
|
Terms of Use and License
This "article format" version of the issued press release is Copr. © 1983-2012 Neotrope/Send2Press. You may freely link to this article version of the press release or may use the release text as the basis for an original article or news posting. If the content is copied verbatim via a scraping or copy/paste method, the news item must be properly "attributed" to Send2Press® Newswire as the originating wire service for this story (may not be posted on ANY site selling/offering SEO or PR services, newswire services, or adult content!). |
DISCLAIMER: the above press release content is believed accurate but not guaranteed, and is based on business news supplied by the source. The noted source is solely responsible for its accuracy. Financial/Stock news may contain forward looking statements. Neotrope/Send2Press (this website) makes no claims of accuracy or suitability for any purpose. Any opinions expressed by representatives of company(s) mentioned in news and profiles are solely those of the person indicated, and do not reflect any opinion or policy of Neotrope® or Send2Press. Your use of any information contained herein is done solely at your own risk, and you are fully responsible for using any information herein, or on sites mentioned or linked to in the article. All trademarks acknowledged.
REFERENCES: Real Estate Auction Could Yield a Bargain for Rare Diamond Head Oceanfront Land, Elite Pacific Properties, Hawaii real estate auction, Stephen Cipres, oceanfront land, Diamond Head neighborhood, press release, Apr 11, 2008. |
|
THIS PAGE MEDIA READS (by media and public, as of today): 4536 times (1 today, 2 this week, 22 this month, 66 this year)
Site Design and Content is Copr. © 1983 - 2011 Neotrope® - All rights reserved. Send2Press® is a reg. trademark and service mark of NEOTROPE.
Press Release Writing | About Send2Press | Meet Our Staff | Contact Us | Our Services | Help Desk | Legal | Privacy | How-To Articles | RSS Feeds | Journalist Tools | Client eMediaKits | Headline Feeds | Podcast | PR News Channels | Daily News Desk | Success Stories | PRTRax™ Reader Tracking | Targeted News Distribution | Internet Marketing Services | Order PR Services | Terms of Service (TOS)