Redstone property finally sells at auction
October 23, 2007
REDSTONE A 10.3-acre oasis in Redstone sold at auction earlier this month for $1.2 million.Sheldon Good & Co. on Oct. 7 sold the property, with 1,457 feet of riverfront on the Crystal River near the tiny hamlet of Redstone, south of Carbondale.Under the terms of sale for the auction, the property was guaranteed to sell to the high bidder regardless of price. And, sell it did, for $1,237,500. The property, which had been offered for sale for more than four years, included a 4,300-square-foot house, a guest cabin, several out-buildings, and a Christmas tree farm. The sellers had tried to sell the property themselves, and had also used the services of several traditional real estate brokers, all without success, said Jim MacDonnell, executive managing director of Sheldon Good & Co.Eventually, they became frustrated by the fact that they were getting no results from the traditional brokerage approach, and because of the continually weakening marketplace, they chose a very aggressive sales strategy selling regardless of price, MacDonnell said. Our firm began marketing the property on July 27, and the property sold 10 weeks later.Sheldon Good & Co. formed in 1965. The company has auctioned more than $9 billion in residential, commercial, industrial, and land properties throughout the United States.