EAGLESTAR.NET LAND AND PROPERTY REVIEW
http://www.eaglestar.net
Issue #40
October 27, 2008

IN THIS ISSUE:
Properties of the Week: OR
Real Estate Roundup: Auction FAQ's
Sponsor's Corner:
Auction News: KS, MO, OK, SD, TX, UT, VA
LandTerms.com Term of the Week: Reformation


"Can anybody remember when the times were not hard and money not scarce?"
('Works and Days', chapter VII in 'Society and Solitude' (1870))
- Ralph Waldo Emerson (American essayist, philosopher, and poet; b. 1803 - d.
1882)


PROPERTIES OF THE WEEK: OREGON
Coquille River and Hunting Land
Powers, Coos County, Oregon
Two adjacent forested parcels for sale, one with 231+/- acres and the other
with 40+/- acres, surrounded by the Siskiyou National Forest. A paved road
leads to these very secluded properties, which have fantastic hunting, wildlife
viewing, and recreation potential. The properties feature both meadows and
wooded areas, and the South Fork of the Coquille River runs through both
parcels. Located near Powers, OR. Listing ID: 20776. View photos and
additional information at http://www.eaglestar.net/knp8-.html.

2.5 Acres in Klamath Falls Forest Estates
Klamath Falls, Klamath County, Oregon
This 2.5+/- acre parcel, accessed by a very good gravel road, is nicely treed
and somewhat private, with a few neighbors in the area. It has great views and
is situated in a nice part of the subdivision. There are power lines across
the road, and an option for well use. Located about 25 minutes from the town
of Klamath Falls, named by Outdoor Life as the 33rd best town in the U.S. for
hunting and fishing. Listing ID: 21341. Photos and more information are
available at http://www.eaglestar.net/cppn1-.html.

Sauvie Island Property with Mountain Views
Portland, Multnomah County, Oregon
5+/- acre parcel for sale on Sauvie Island in Columbia River with commuter
access to Portland. One of the last buildable lots on Sauvie Island, the
largest island in the Columbia River, this property offers the opportunity to
grow high-income crops (garlic, ginseng, blueberries, etc.). The parcel has
views of Mt. Rainier, Mt. St. Helens, and Mt. Hood. Sauvie Island is a
preserved wildlife area and market farm community, 20 minutes from downtown
Portland. Listing ID: 18326. Photos and details at
http://www.eaglestar.net/tbwst2-.html.

1,858 Acre Cattle Ranch with National Forest Grazing Permit For Sale
Lakeview, Lake County, Oregon
1,858+/- acres of rolling terrain interspersed with dozens of native meadows,
wild plum groves, aspen, sage, bitterbrush, juniper, and ponderosa pine. This
parcel has numerous prospective home sites with gorgeous views including
several plateaus and meadows. There are 90 acres of irrigated and
sub-irrigated pasture, and some of the acreage has water rights to Thomas
Creek. Located 8 miles northwest of Lakeview, Oregon. Listing ID: 19475.
Photos and more information can be found at
http://www.eaglestar.net/swngl.html.


REAL ESTATE ROUNDUP: AUCTION FAQ's Part 1
Have you ever been left confused by jargon in ads for real estate auctions?
Just what does all that terminology mean? Like many professions, real estate
auctioneers have their own language. In order to help decipher this unique
lingo, the staff at EagleStar.net compiled a list of frequently asked questions
(FAQ) about real estate auctions which we will present over several
installments. This first edition attempts to address some of the more commonly
used terms and phrases that pertain to auctions. If you have any questions
about real estate auctions, or the general topic of auctions and auction
theory, please email them to newsletter@eaglestar.net (or reply to this email).
We will research the answers to the questions and include them in a future
issue.

Q: What is an auction?
A: An auction is a a public sale of real or personal property conducted by a
professional auctioneer. Offers are made and items are purchased through a
competitive bidding process.

Q: What is an absolute auction?
A: An absolute auction is an auction sale where some or all of the items are
offered "absolute", which means that they will be sold to the highest bidder
with no limitations or reserve (minimum) price. Once a bidder in an absolute
auction has offered the highest bid, the seller becomes contractually obligated
to sell the item to that bidder. An absolute auction is also known as an
absolute sale or an auction without reserve.

Q: What are the duties of the auctioneer?
A: An auctioneer, a person or company contracted by a person wishing to sell
property or items at auction, is the person in charge of an auction. The
auctioneer conducts the auction on behalf of the seller or sellers, and
provides a financial report to the seller after the auction, called an
"accounting of sale". The auctioneer, who has a fiduciary obligation to the
seller, conducts the auction event, but may or may not be the person who
"calls" or "cries" the auction.

Q: Who "calls" or "cries" the auction?
A: In an open outcry auction, the person who verbally offers for sale items at
auction and takes bids on the items until they are sold or withdrawn is called
the "caller" or "crier". The auction "call" is characteristically conducted in
a rapid cadence in order to encourage bidding. The person who calls the auction
may be the auctioneer, or he or she may be a professional auction caller
employed by the auctioneer. The auction caller is also known as the "auction
crier" or "bid caller".

Q: What is a reserve price?
A: A reserve price is the minimum bid or asking price that a seller is willing
to accept for a property to be sold at auction. If this minimum price is not
reached during the auction, the property or item for sale is withdrawn. The
reserve price may or may not be publicly disclosed, depending on the terms and
conditions of the auction (as contrasted with a minimum bid auction). The
reserve price is also known as the upset price.

Q: What is a silent auction?
A: A silent auction is an auction event where open, competitive bids are
submitted by the bidders in writing rather than orally. The bids are usually
recorded in a single list, with successive bidders able to see the entire list
of previous bids. At the end of a designated period of time, the bidder with
the highest bid on each item wins that item.

Q: What is open bidding?
A: Open bidding is auction bidding activity where individual bids are obvious,
apparent, and known to all other bidders. Contrast with sealed bid.

Q: What is a sealed bid or sealed-bid auction?
A: A sealed bid is single-round auction bidding activity where all bidders
submit simultaneous, confidential bids; the highest bid submitted wins the
auction. A sealed-bid auction is a single-round auction where all bidders
submit their bids simultaneously and without knowledge of the offers made by
competing bidders; usually the bids are in writing and delivered to the
auctioneer in a sealed envelope. The highest bid wins the auction. The
sealed-bid auction method does not allow for open, competitive bidding and is
therefore not a true auction. A sealed-bid auction is also known as a
first-price sealed bid auction (FPSB) or a sealed first-price auction.

Q: What are the rules for auctions?
A: Auction rules, also known as terms and conditions or conditions of sale, are
established individually for each auction, and sometimes for each individual
item or group of items for sale. A single auction event may thus feature
several different types of auctions. By law in most states, the auction rules
and sometimes portions of the sales contract must be made available to auction
participants in advance of the auction itself.

Q: Who establishes the auction rules?
A: Auction rules are established by the auctioneer in accordance with the
wishes of the seller(s) and applicable state and local law.

If you just can't wait for the next installment of Auction FAQ's, find more
auction terms at in the auction category at LandTerms.com.
http://landterms.com/Auction/index.html


SPONSOR'S CORNER
The Land and Property Review would like to thank this week's sponsor:

27 Acres Remote Mountain Land
Mad River, Trinity County, California
This beautiful property on South Fork Mountain is forested with cedar trees and
oaks, with some big specimens of both. The 27.4+/- acres has a drilled well
plus a spring. Flat near well and potential for another flat below that.
Fabulous view of Mt. Lassic. Very private behind a locked gate. Good place for
your cabin or camp. Easy summertime 2 wheel drive access. Southwest exposure.
Snow in winter. Owner will carry. Listing ID: 20624. View photos and more,
including owner financing information, at http://www.eaglestar.net/bchm.html.


AUCTION NEWS
Browse thumbnail photos and short property descriptions at
http://www.eaglestar.net/Land_Auction_Calendar/index.html.

1,880 Acre Cheyenne River Ranch
Tuesday, October 28, 2008
Plainview, Meade County, South Dakota
The 1880.8+/- acre Cheyenne River Ranch is located in historic Meade County
just 72 miles from Sturgis, SD. This property has three miles of frontage on
the beautiful Cheyenne River, numerous springs, and amazing vistas and river
views. The spring feeding the house proves an ample supply of fresh water; two
more springs are developed for livestock. Includes a recently renovated 3
bedroom, 1 bath, 1,300+/- square foot home, an insulated 40'x 80' shed, a 28' x
78' metal shed, and corrals. Great hunting for white tail, mule deer, and
turkey; the ranch has been under an intensive feeding and management program
for the past three years to help produce some real trophy-quality animals. 590
acres is usable farmland. Balance of acreage is mostly rolling hills,
grassland, and hardwood-cedar timberland. Listing ID: 21121. Find photos and
contact information at http://www.eaglestar.net/Detailed/21121.html.

5,000 Acre Bandana Ranch
Thursday, October 30, 2008
Fruitland, Duchesne County, Utah
This beautiful 5,000 acre tract is adjacent to 60,000 acres of land owned by
the Department of Wildlife Resources. The Bandana Ranch is made up of gently
rolling hills covered in high aspen groves with tremendous wildlife potential.
Magnificent views, large network of gravel roads, and abundant wildlife
including elk, deer, and moose. Listing ID: 21122. Photos and additional
information are at http://www.eaglestar.net/Detailed/21122.html.

34 Acres with Rustic Log Cabin
Thursday, November 13, 2008
Argyle, Denton County, Texas
34+/- acres with log cabin and detached 2-car garage with apartment in a
country setting within 30 miles of Ft. Worth and Dallas. Location is east of
Hwy 35W in Denton, TX in the desirable Argyle School District. Property has
wildlife and is partially wooded, with Brush Creek running through, two ponds,
pasture and native grasses. Rock landscaping including outdoor fireplace, well
house, patio, bathtub, sprinkler system, and rock/concrete pond. Listing ID:
21265. Photo and additional information at http://www.eaglestar.net/ww4.html.

Home and 28 Acres in 3 Parcels
Friday, November 14, 2008
Afton, Ottawa County, Oklahoma
Home and 28+/- acres in 3 parcels, 2 miles north of Sail Boat Bridge, Grove,
OK. Rural setting conveniently located near Grove, a town that maintains
small-town traditions and good solid values while being the largest city on
Grand Lake. Opportunity to purchase property with excellent Hwy 59 frontage
offering commercial possibilities. Parcels have native grasses, mature trees,
pasture and rolling terrain.
Parcel 1: 5+/- acres. Includes 3BR, 2BA, 2,174+/- square foot wood siding home
built in 1960. Home has wall furnace, window air conditioner, well, septic and
storm cellar.
Parcel 2: 14+/- acres.
Parcel 3: 9+/- acres.
Listing ID: 21264. More information and a photo can be found at
http://www.eaglestar.net./ww6.html.

Land Auction, 290 Acres in 10 Tracts
Friday, November 14, 2008
Springfield, Greene County, Missouri
These parcels are part of the former Underwood Farms and have been held by the
same family for generations. The 290+/- acres is being offered in 10 tracts,
which may be assembled by a purchaser of multiple parcels. Parcels have
excellent road frontage, including Parcel 10 with Hwy 60 frontage. Located
within Springfield growth corridor, but convenient to Rogersville. Property
features a mix of grasses, pastures, rolling terrain, woods and several ponds.
Parcels range in size from 10+/- acres to 50+/- acres. Listing ID: 21430.
Photos and details are available at http://www.eaglestar.net/ww7.html.

Land Auction, 76 Acres in 3 Tracts
Friday, November 14, 2008
Springfield, Greene County, Missouri
76+/- acres in a prime location east of Springfield, MO with excellent
potential for investment, development, ranchettes or residential estates.
Growing area with convenient access to both Springfield and Rogersville.
Parcels range in size from 10+/- acres to 40+/- acres and are located within
minutes of the conveniences of Springfield or Rogersville. All parcels have
access via county road. Listing ID: 21431. Photos and more information can be
found at http://www.eaglestar.net/ww1.html.

Commercial Property and Residence For Sale
Friday, November 14, 2008
Chetopa, Labette County, Kansas
Three commercial buildings (formerly Barr Lumber, Hardware and Antiques) and
residence for sale in Chetopa, KS near Oklahoma/Missouri state lines. Some
equipment and inventory will also be sold. This property is located on 8 city
lots along busy Highway 50/166. Commercial buildings are 1 metal and 2 frame
structure; residence is 3 bedroom, 1 bath, 1,370+/-0 square feet with a 2-car
garage. Three commercial buildings and residence on 8 city lots along busy Hwy
50/166. Listing ID: 21432. Photos and additional information are at
http://www.eaglestar.net/ww2.html.

63 Acres Investment, Development, or Residence
Friday, November 14, 2008
Rogersville, Webster County, Missouri
63+/- acres in Rogersville, MO, just west and south of Sawyer Creek
Subdivision. Opportunity to purchase land for personal residence, residential
development or investment. Excellent infill investment opportunity. Property is
located in City of Rogersville (approximately 10 miles east of Springfield).
Surrounded by established neighborhoods, property is mostly pasture with
rolling terrain, some trees and pond. Listing ID: 21437. Find photos and more
at http://www.eaglestar.net/ww5.html.

Allen Farm, 43 Acres in 4 Parcels
Tuesday, November 18, 2008
Keswick, Albermarle County, Virginia
A magnificent country estate set against the Blue Ridge and Shenandoah mountain
ranges, these 4 parcels totaling 43.3+/- acres feature world-class equestrian
facilities and four bedroom ranch-style homes with spectacular mountain views.
Parcels range in size from 5+/- acres to 20+/- acres. Listing ID: 21434.
Photos and additional information are available at
http://www.eaglestar.net/Detailed/21434.html.


LANDTERMS.COM TERM OF THE WEEK
http://landterms.com
Each issue we feature a real estate, forestry, natural sciences or other
land-related term from our partner site, LandTerms.com.

This week's term: Reformation
A legal action to correct or modify a contract or deed which does not
accurately reflect the intentions of the parties due to some mechanical error,
such as a typographical error in the legal description.

Find thousands of terms, definitions, abbreviations, and quotations related to
land and real estate, all organized in 36 main categories at
http://landterms.com/categories.html.


SUGGESTIONS
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