In less than a month Williams & Williams will auction the Ampersand Bay Resort & Boat club in the Adirondack Park. It’s one of the most unique properties I’ve come across in the last 10 years of conducting tens of thousands of real estate auctions. It’s also one of those properties you see and know immediately it’s perfect for auction: it’s generating income and operates year round, it’s turnkey – all equipment and furnishings sell with the real estate, there are generations of families who have been visiting since the 1940s, and a new owner will have options to keep it as is, or take it in an entirely different direction.
There’s also an element of scarcity, which can be meaningful for any auction asset. There’s very little in the way of commercial development on the water like Ampersand Bay Resort and the resort is located in the heart of the Adirondack Park. This is America’s largest park by the way, with more than 6 million acres of protected wilderness and lakes – that’s bigger than Yellowstone, Yosemite, Grand Canyon and a few other national parks combined. The 28+/-ac resort also has room to expand – amenities such as a new restaurant, conference/meeting facility and even condo units have recently been on the planning table.
This will be a fun auction, so plan to tune in on October 4th or call us if you’d like to see it for yourself. One of the guests staying at Ampersand Resort recently made a comment about the ownership opportunity the auction presents and I think it’s a great way to summarize the event: “Visiting here has been always been amazing. Living here would be life changing!”
Watch the video below to find out what makes Ampersand Bay Resort so special.
by Dean Williams
The Soviets and other communities have long fought public or “free” markets as a free-for-all – an unmanaged mess of special interests or worse, an elitist plot – unable to offer human beings actual justice much less equality. In terms of warring nation states or ideals, we called these differing views on the role of centralized management over dispersed economic rights and open or competitive price discoveries, a “cold” war.
This war continues of course, though now more modernly framed as between those who continue to decry the injustice of inequality and those who decry centralized management. The war on drugs, for example, has had the same undertones as between those who know better and those who would tolerate. In all of these wars it seems, there has been a blight of resources that is astounding in its scope – from the waste in defense and law enforcement spending on behalf of management, to the waste of human capital and ideas that have been subjugated and incarcerated on behalf of public mores.
I’d argue a similar war of this kind has long been extended to housing as well. Under the guise of affordability and “ownership”, governments have sought to make housing access more equal, debt more accessible and payments lower. While ownership rates haven’t budged much in the fifty plus years of these efforts, increasing blight and recurrent financial crises have themselves emerged in ever larger scope and scale.
Presuming these are unintended consequences, it must be noted that housing affordability itself remains as unequal as ever. Ever more of the population continues to spend an ever larger amount of its income on housing. But can we afford more environmental blight and further economic speculation as these managerial experiments or “wars” against public market exchanges for housing continue? I have a sense we’ll soon find out.
The most recent housing or “financial” crisis has not yet focused attention on the issues of housing speculation and built environment blight. To the contrary, governments are doubling down again on trying to force even more spending on housing. Encouraging debt to further inflate gross purchase prices or accommodate existing giant asset managers and blight, is now an accepted policy globally. And it obviously has its privileges to offer, especially for the status quo elites of “diversified wealth” and the talking head or politically assigned “managers” themselves.
Presuming this financial engineering fails yet again though, it’s likely getting big enough in scope to take some governments down with it. And in the interim, debt re-structuring will also likely have to continue. But this time, not just for favored or too big to fail institutions. Housing borrowers themselves will likely have to be adjudicated en masse.
Government run foreclosure “auctions” are a poor semblance of the real (public or free market) thing. Beyond giving real estate auctions a bad name, foreclosure auctions are simply ineffective and more often than not, designed only to serve insiders. A more equitable as well as effective auction would a) respectfully take place at the actual property itself, not just virtually or in a courtroom and b) after local retail marketing with actual showings and inspections, as well as c) include the presumably “upside down” borrower as still a stake holder in the process and outcome.
When debt fueled speculation starts to fail at this magnitude, it should not behoove anyone to still exclude others from staking or re-staking their interests in owning property for what it’s really worth. Nor I imagine, will it go down well politically to keep “auctions” – or what should be truly public and reliable sales – inaccessible or only privately negotiable to all but the largest “rental” firms, hedge funds or other housing and finance industry insiders.
The wars against public markets will most likely continue…until they can’t. In the aftermath, there will always be opportunities to revisit open exchanges which are, in fact, not just in hope, more timely, trustworthy and accessible – not to mention affordable.
While hope may spring eternal, I expect we could learn from new public market exchanges via modern auctions, that respecting properties and individuals alike helps lesson the kind of waste and value destruction that wars bring. On the other hand of course, the market for private property could feel forced by government policies to resort to even more violence, so as to avoid going back into serfdom. But my point is, there are always alternatives or what we might call the power of choice. To bid or not to bid, and accepting the results, may be more akin to voting and democracy than we realize.
On Thursday, August 7th, Williams & Williams auctioned a new home built by Simmons Homes in Broken Arrow, OK. The home’s high bid was matched by a generous long-time supporter of Make-A-Wish, raising a total of $500,000 for the organization. The total donation was the single largest donation for Make-A-Wish Oklahoma for the year.
We would like to thank the volunteers, the auction team, Auction Network, the buyer and donors, and Simmons Homes for making this charity auction truly successful.
To learn more about Williams & Williams real estate auctions for individual home sellers, contact Melissa Slusser at 918.217.6426.
U.S. Marshals Auctions are a great chance to get a deal on forfeited property. We’ve contracted with the U.S. Marshals Service to sell 7 properties in Ohio in August and September. One home in Lima, OH will auction online starting August 20th. Six homes in Cincinnati will auction online starting September 1st.
The U.S. Marshals Service offers for sale to the public real estate, personal property and various financial instruments forfeited under laws enforced or administered by the U.S. Department of Justice. Williams & Williams Real Estate Auction has contracted with the U.S. Marshals Service to auction these items as made available.
Whether it’s art, cars, or horses, sellers choose auction for speed, certainty and competition. What can auction do for you? Let’s break it down:
Speed. List your home with Williams & Williams and it will sell in 30 days. The average Days on Market for traditional listings in the U.S. is 78 days. Auction reduces that by more than half. Selling in 30 days also means you decrease your holding costs (mortgage, utilities, insurance, taxes). A quick sale puts you on the path to your new life in less time.
Certainty. A definite auction date means you know exactly when your home will sell. Properties sell “as is, where is” so there are no contingencies or repairs to worry with. The certainty of the auction date brings buyers off the fence and turns them into bidders.
Competition. Instead of setting a price and negotiating down, bidders negotiate up, eliminating the price ceiling of traditional real estate transactions. Auction creates a sense of urgency unlike any other real estate marketing method. Anyone who hesitates risks missing the opportunity.
Find out if auction is right for you. Call Sheila Sanders at (918) 362-6555 or email her at firstname.lastname@example.org.