Wow, that was fast. I mean, FAST!
Kyle Crews of Allie Beth Allman, and Ralph Robertson of Century 21 Butler Real Estate Services successfully auctioned off the beautiful, 346-plus acre working recreational ranch known as Timber Creek Ranch last Thursday. Timber Creek is sold, gone, kaput and made someone a very happy ranch owner!
The $15 million investment property sold before Mother’s Day without reserve — yep, that means no minimum, — in three bidding segments: (1) the 26-acre lakefront parcel, which was previously offered for $11.95 million, (2) the 320-acre upper parcel, which was previously offered for $5 million, and (3) the entire property, approximately 346± acres. I’m told the sale was for the entire property and confidential. But my sources tell me the ranch sold for somewhere in the low $8 million range. And who was the buyer? After all the foreigners and out-of-staters who expressed interest in the property, it ended up being sold to a local Dallas person and client of the listing broker, Kyle.
Selling the entire ranch kit and caboodle is a first — it had never before been offered as a total parcel. And it took 14 past real estate closings, some of them pretty far back, to amass Timber Creek Ranch’s coveted acreage, which offers various commercial and residential use opportunities including a working and recreational ranch; a sportsman’s resort; a bed and breakfast and/or event center; and a community/neighborhood development.
The ranch includes 1,600 linear feet of sea-walled frontage on 3,500-acre Lake Cypress Springs, one of Texas’ most desirable lakes for water sports, now full to the brim, and two on-site, bass-stocked lakes.
“Timber Creek Ranch ranks among the finest working and recreational ranches in Texas, and its lake frontage is especially unique,” says Kyle Crews. “In my 30-plus years of luxury real estate marketing and sales, Concierge Auctions does the best job capturing the essence of unique properties like Timber Creek Ranch, as evidenced by this record-breaking contract.”
Crews said the marketing campaign was particularly effective: it involved print and digital marketing, public relations efforts and global outreach.The campaign pulled in more than 9,000 website views from 48 states led by Texas, California, Oklahoma and Florida. There w3as also interest from 60 international countries — led by Canada, the Netherlands, France and Ireland.
Billy Long, head of Concierge Auctions’ Land & Ranch Division said the auction of the ranch in its entirety brought an additional $1 million over the individual parcel bidding and was a huge success.
“We ended up with a happy buyer and seller, not to mention the largest sale in Lake Cypress Springs history, he said”
And that, my dear readers, is what we call a happy real estate story.