EAGLESTAR.NET LAND AND PROPERTY REVIEW
http://www.eaglestar.net
Issue #70
June 9, 2009

IN THIS ISSUE:
Discounted Properties.net
Properties of the Week:
- HI, MX, NM, OR
Real Estate Roundup:
- When You Need to Sell Your Real Estate Fast
Auction News:
- CO, FL, IN, MI, OK, TN
Sponsor's Corner:
- Catawba Shores Estates, SC
LandTerms.com Term of the Week:
- Just title


"Where an excess of power prevails, property of no sort is duly respected."
- James Madison, Jr. (American politician, Founding Father, and 4th President
of the United States; b. 1751 - d. 1836)


DISCOUNTED-PROPERTIES.NET
EagleStar.net is pleased to announce that we have acquired
www.Discounted-Properties.net. This site has been active on the internet for
several years and has good traffic history. As a service to our customers, we
will automatically post to www.Discounted-Properties.net auction listings from
www.EagleStar.net. In addition, any listings that are included in the
Discounted Properties category in www.EagleStar.net will also be automatically
posted to www.Discounted-Properties.net. In order to be include in this
category, a listing must feature:
* An auction
* Property for sale below appraised value
* Property with a recently reduced asking price
* Foreclosures, repo's, REO, bank-owned, etc.


PROPERTIES OF THE WEEK:
Sea of Cortez Ocean Front Land
Los Mochis, Ahome, Mexico
1591 Acres - $2,400,000
Sea of Cortez ocean frontage located in northern Sinaloa, Mexico. This area is
blessed with the North Western Coast climate, being cooled by the sea breezes
of the Sea of Cortez. Has 5,900 linear meters of beach frontage. Northern
portion of the beach has an area to launch small boats for fishing, diving and
snorkeling. Listing ID: 24171. Photos, maps, and seller contact information at
http://www.eaglestar.net/cur10-.html

Building Lot in Rio Rancho Estates
Rio Rancho, Sandoval County, New Mexico
0.5 Acre - $25,000
Rio Rancho is a suburb of Albuquerque about 15 miles to the northwest as the
crow flies. It is the fastest growing city in New Mexico. This undeveloped
property is located near a growing development, as well as community with a new
city center and local high school, as well as more infrastructure and
commercial businesses. Listing ID: 24324. Photos, maps, and seller contact
information at http://www.eaglestar.net/rchwn.html

Hawaii Subdivision Land
Mountain View Area, Hawaii / Puna County, Hawaii
3 Acres - $25,000
Mountain View area of the east side of the big island of Hawaii, a pig hunter's
paradise. Approximately 20 minute drive to Hilo. Listing ID: 24254. Map and
seller contact information at http://www.eaglestar.net/mllr1-.html

Mountain Views from this Scenic Home
5 Acres - $349,000
Ashland, Jackson County, Oregon
Mountain top home overlooks Howard Prairie Lake with a panoramic view of the
Cascade Mountains in southwest Oregon, 20 miles from Ashland; 39 miles from an
international airport. Near resort, marina, 2 campgrounds, Pacific Crest Trail,
hiking, horseback riding, snowmobiling, cross-country skiing. Listing ID:
24428. Photos, maps, and seller contact information at
http://www.eaglestar.net/jri.html


REAL ESTATE ROUNDUP:
When Sellers Need to Sell Fast, They Need to Do the Buyer’s Due Diligence
By Curtis Seltzer

BLUE GRASS, Va.­ - I’ve had several calls during the last six months from
sellers who are in a jam. "HELP! We must sell immediately." In one case, that
meant within a week. In the others, it was four to eight weeks. What do you do
if circumstances make you a "crash" seller?

First, don’t panic and don’t despair. You must keep your head, which is the
body part most likely to minimize the pain you will inevitably experience.
Don’t give up. If self-pity would improve your situation, I’d say, "Wallow
away!" But self-pity simply wastes time and energy. Beating yourself up doesn’t
improve your prospects. You may get beaten down, but don’t be beaten. Try to
consider your particular mess as a problem that needs to be solved with the
best options available to you at the moment. As my father-in-law told me: "You
eat an elephant one bite at a time." The one benefit of being in a very tight
pinch that I discovered was that very hard decisions become easy when other
choices are worse. You do unpalatable things because they have to be done.

Second, look for a bridge to the future other than selling right now. A costly
temporary patch may be better than permanent injury. Perhaps you can squirm
through by refinancing, or selling a part of your property rather than all of
it, or selling an interest in it rather than the property itself. An "interest"
could include a share in the whole property, or the right to cut timber within
a certain number of years, or the right to hunt, or a life estate, or a
long-term lease or a right to inherit it.

Third, figure out what you absolutely need to net from a sale and what you will
do if the proceeds fall short. Once you face square the worst that can happen,
you’ve turned the mess into a problem of managing through.

Fourth, determine how much time you really have. More time may give you
opportunities to promote your sale better or find a bridge. You’re likely to
lose money in step with how fast you need to sell. A conventional auction may
or may not help. They typically take a couple of months or more to organize and
publicize. The auctioneer will want you to sell on an absolute basis. This is a
sale at any price, which means you bear all risk of disaster, including winding
up worse off than before the auction.

Fifth, do the buyer’s work. Put together a sale packet that provides complete
information on your property. Owing to your need for speed, you have to do a
buyer’s due diligence better and faster than any buyer. Don’t fudge. Lay out
the negatives and all the numbers. In addition to the usual things a listing
sheet would provide (photos, description of improvements, etc.), your packet
should include:

1. Your deed, showing legal description and acreage.
2. ALL other recorded documents relevant to property.
3. Title certificate at the time you purchased the property or other legal
opinion showing that the title was then free of defect.
4. Copy of title insurance policy, if you have one.
5. Opinion letter from your lawyer, to include:
- Title is currently free of defect, or set forth exceptions and why.
- Seller holds and will convey merchantable title.
- Seller will convey with a general warranty deed, or lesser alternative if
needed.
- Property will be conveyed in fee simple, with no severance of rights or
resources, other than those of record. A mineral lease will be recorded.
- To the best of lawyer’s knowledge, no unrecorded docs exist that would
negatively affect the buyer's use, possession and enjoyment of the property.
(Make sure this is accurate, of course.)
- To the best of lawyer’s knowledge, property is not burdened with
encroachments.
- Seller will reserve no interest or profit in the property.
6. Opinion letter from surveyor that boundaries as described in deed match
boundaries on ground, or set forth the mismatches.
7. Survey, if available.
8. Deed-mapper drawing of boundaries on topographical map. Show boundaries and
acreage from legal description. Get this from surveyor. Inexpensive.
9. Current appraisal, or at least a competitive market analysis (CMA) from a
broker.
10. Tax map and tax information:
- Current tax-assessed value (TAV). Previous TAV. Date of last reassessment.
Date of next reassessment.
- Ratio of TAV to appraisal or CMA value.
- Photocopy of current Land Book page showing property’s TAV, tax rates and
annual tax burden.
11. Price paid when you bought property. Date of purchase.
12. Mortgage details if you have one--original principal, terms, outstanding
balance, contact info for lender, assumable or not.
13. Zoning status and summary of regulations for division, setback and others
that are relevant.
14. Copy of property’s soil map from the county’s Soil Survey. Include tables
that show suitability of your soils for different uses.
15. Financials if property generates income, such as Schedule F for farm.
16. Opinion letter from environmental consultant regarding any environmental
issues, such as floodplain, natural hazards, wetlands, presence of ETS species.
17. Consultant report (s) on special assets or liabilities.
18. Letter from you discussing property negatives, responsibilities and
idiosyncrasies (e.g., nuisances, boundary disputes, fence ownership, well goes
dry in August). Don’t play hide the ball. The seller must achieve complete
credibility with the buyer. Show how you arrived at your asking price, and why
you need a quick sale.

Take your property information packet to everyone who might be a buyer or know
of a buyer, including CPAs, financial consultants, real-estate brokers who
might want to purchase, lending officers, mortgage companies and real-estate
lawyers. Publicize in local papers.

Your success will depend on your asking price in terms of how buyers determine
your property’s value. You can consider combining this approach with a
sealed-bid auction with a stated reserve price. Allow buyers to make offers
before your lawyer opens bids. If you get no bidders, your reserve price is too
high. Lower it and try again. If you have some buyers who contacted you but
didn’t bid, ask your lawyer to approach each one.

When selling quickly is more important than getting the best price, do what you
have to do because you don’t have other choices.

Curtis Seltzer is a land consultant who works with buyers and help sellers with
marketing plans. He is author of How To Be a DIRT-SMART Buyer of Country
Property available at www.curtis-seltzer.com where his columns are posted. He
also contributes to www.landthink.com.

Contact:
Curtis Seltzer, Ph.D.
Land Consultant
1467 Wimer Mountain Road
Blue Grass, VA 24413-2307
540-474-3297
curtisseltzer@htcnet.org
www.curtis-seltzer.com


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

Luxury Michigan Estate in Franklin Woods
Auction: Monday, June 15, 2009
Bloomfield Hills, Oakland County, Michigan
0.69 Acre
Sprawling estate in Franklin Woods. Large home with many recent updates and
multiple living areas. Tile and hardwood floors throughout, nice kitchen with
double wall oven, and a private backyard with a pool. Listing ID: 24409.
Photos, map, and seller contact information at
http://www.eaglestar.net/ww1.html

2,300 SF Office Building For Sale
Auction: Monday, June 15, 2009
Detroit, Wayne County, Michigan
Ready for tenants! Great for business relocation or investment property. Approx
2,300+/- sf office building. Includes several offices, reception area and break
room. Great location with excellent street exposure and access. Listing ID:
24415. Photos, map, and seller contact information at
http://www.eaglestar.net/ww7.html

Ready-to-Lease Business Property
Auction: Monday, June 15, 2009
Clinton Township, Macomb County, Michigan
Ready for tenants! Great for business relocation or investment property. Approx
2,000+/- sf former residence, converted to office building. Great location with
excellent street exposure and parking. Built in 1972. Listing ID: 24416.
Photos, map, and seller contact information at
http://www.eaglestar.net/ww8.html

G & S Farms
Auction: Tuesday, June 16, 2009
Santa Claus, Spencer County, Indiana
189 acres of open and wooded land offered in 8 tracts ranging from 4 to 80
acres. Listing ID: 24326. Photos, map, and seller contact information are
available at http://www.eaglestar.net/mdvs.html

Luxury Golf Course Property For Sale
Auction: Tuesday, June 23, 2009
Lebanon, Wilson County, Tennessee
0.48 Acre
Stunning brick traditional home with front views of golf course, open kitchen
has granite counters and oversized island, two deluxe master suites, grand
living room with fireplace, balcony overlooking the woods, finished basement
and hidden side-loading garage. Listing ID: 24410. Photos, map, and seller
contact information at http://www.eaglestar.net/ww2.html

Ginn Reunion Resort Golf Club Home
Auction: Tuesday, June 23, 2009
Kissimmee, Osceola County, Florida
0.21 Acre
Beautifully landscaped luxury home in Ginn Reunion Resort Golf Club. Elegant
décor and high end finishes throughout, elaborate built-ins, stunning kitchen
with granite, romantic master suite and a theater room. The back yard overlooks
the golf course and has a custom pool and spa. 5BR 4BA, 4,740+/- sf built in
2006 on .21+/- ac. Listing ID: 24414. Photos, map, and seller contact
information at http://www.eaglestar.net/ww6.html

Gorgeous Pike's Peak View Home
Auction: Wednesday, June 24, 2009
Foxfield, Arapahoe County, Colorado
2.28 Acres
Come home to priceless Colorado Rocky Mountain views on 2.28+/- ac in the
quiet, rural southeast Aurora neighborhood of Honeysuckle Hills located just
ten minutes from the Denver Tech Center, light rail, Park Meadows Mall and
Centennial Airport with easy access to I-24, I-225 and E-470. Listing ID:
24412. Photos, map, and seller contact information at
http://www.eaglestar.net/ww3.html

Custom Breckenridge Home
Auction: Thursday, June 25, 2009
Breckenridge, Summit County, Colorado
0.45 Acre
West facing lot overlooking the Tenmile Range and the Breckenridge Ski area.
Custom home with possible rental space on the lower level, many custom features
such as a wine cellar, wood floors, stained glass windows, slab granite
counters and more. 5BR 4BA, 4,070+/- sf on .45+/- ac. Listing ID: 24413.
Photos, map, and seller contact information at
http://www.eaglestar.net/ww5.html

Complete Liquidation of Silver Top Ranch
Home, Farm Acreage, Livestock, Vehicles, and Equipment For Sale
Auction: Tuesday, June 30, 2009
Seminole, Seminole County, Oklahoma
330 Acres
Acreage, home, cattle, vehicles, and lots of like-new equipment. Very nice
country home and ranch that supported a long-running commercial cattle
operation. 330 acres in 9 parcels. Listing ID: 24422. Photos, map, and seller
contact information at http://www.eaglestar.net/ww4.html


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

Catawba Shores Estates
Rock Hill, York County, South Carolina
1 Acre - $59,900
Twenty-five minutes from the city of Charlotte, and six minutes off highway
I-77, lies beautiful Catawba Shores Estates. This South Carolina property
boasts stunning homes, built on lots of approximately one acre, surrounded by
the Catawba River and her neighboring lakes; it is a nature lover's paradise.
With 163 lots filtering through grand oaks and pines, a choice of homes built
right on the Catawba River or set back in a world of green, there is
versatility and rural beauty. This land for sale in South Carolina is pristine
South Carolina riverfront land. The SC property of Catawba Shores Estates is
less than a half hour from Charlotte, North Carolina. Listing ID: 24431.
Photos, map, and seller contact information at
http://www.eaglestar.net/Detailed/24431.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: Just title
1. Title to real property that is free from liens, encumbrances, or defects
aside from those which the buyer has agreed to accept (mortgage to be assumed,
ground lease of record, etc.)
2. Title to real property that is established, marketable, and without clouds.

Find thousands of land-related terms, definitions, articles, abbreviations,
quotations, and more at Landterms.com! Click on the "Categories" button at the
top of each page to see the list of over 35 categories.


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