Lakefront Single Family Home

This lake front, single family home located in a private association community on Apple Canyon Lake was arguably the nicest home on the lake, in a community where most homes sell for under $400,000.

12300 Nixon Lane, Apple River, IL
Privately Owned Real Estate
Sale Price: $610,000

Business Challenge

This lake front, single family home located in a private association community on Apple Canyon Lake was arguably the nicest home on the lake, in a community where most homes sell for under $400,000. The owner previously had the property listed with a local broker for over a year, during which time the home had very few showings and no offers. Ready to buy a vacation home on a larger lake, but preferring to sell this home first, the owner approached AW. While an AW team member had successfully sold several commercial properties at auction for this owner in the past (including two golf courses and an asphalt plant), this was his first residential auction.

Solution

The AW team set a suggested opening bid of $450,000 for the online auction and extensively marketed the home to local brokers and brokers in surrounding areas. Since the home was located in an area that attracted vacation homeowners from three states, the AW team implemented an electronic marketing campaign to target market the home to potential buyers who lived within a certain radius and people who visited the community’s website. Since the lake is visited most during July 4th weekend, the AW team set the online auction date for mid July and advertised a July 3rd open house. In advance, the AW team placed auction signage in both the home’s front yard and in the backyard where it would attract the attention of boating enthusiasts.

Results

The July 3rd open house attracted 20 families who toured the home and resulted in a pre-auction bidding war that included three qualified buyers. The AW team sold the home to a cash buyer who was able to close in less than two weeks. Through the competitive, pre-auction bidding process, the AW team achieved a sale price of $610,000 (well over the seller’s unpublished reserve price of $500,000).
- CLIENT TESTIMONIAL

“Diana Peterson and her company AW have been one of my favorite business partners over the past 5 years. I oversee 9 companies and have the opportunity to do business with hundreds of partner businesses and I can say with confidence Diana and AW is one of the top 3. Our first property that Diana sold for us was one of the toughest I could ever imagine, an old Asphalt Plant and a small industrial park in a bad location. She did a phenomenal job from start to finish and she then was given a losing golf course in a small farm town and another old Asphalt Plant in a small industrial park. She somehow sold those two properties at good prices and in each case had a couple buyers wanting the properties prior to an auction. I recently challenged Diana with our family lake home that was devalued because of runaway association fees and taxes. We had the home for sale on two different occasions with little to no interest over 4-6 month intervals at a heavily discounted price from the value 5-6 years prior. After hiring Diana we never looked back, we had a few interested buyers with two offers prior to going to auction and accepted a very good offer that closed within a couple weeks. I have recommended Diana to good friends of mine who ended up having similar success. If anyone wants to move a property fast without the normal hassles of the conventional real estate sales process, I can’t imagine a better person or company than Diana Peterson and AW.”

Gary RabineCEO - The Rabine Group of companies