HOMES ON ACREAGE POPULAR WITH AUCTION BUYERSAs seen in the Kansas City Star
Looking back over the past 73 years of his company’s history, Jeff Cates notes that homes on acreage are consistently among the most popular real estate auctions. “From the very early days when my grandfather founded the company, farm auctions and homes on acreages have been a steady part of the business,” he notes.
A look at Cates Auction & Realty Company’s spring and early summer calendar proves it true with several options for buyers who prefer to live on a bit of land rather than a traditional subdivision lot. “These types of auctions are great for bidders and for sellers because each property is unique,” says Cates. He adds, “You can’t just look at a recent sale of a matching property to determine value like you can in a traditional subdivision. It’s based entirely on what buyers decide it’s worth.”
On May 15th, Cates will be selling a home on approximately 43 acres between Kearney and Smithville, Missouri. In this sale the acreage is divided into two tracts allowing buyers to bid on either one or both in combination. Tract 1 consists of 28 acres with a custom-built true ranch home and a 40×84 outbuilding with concrete floor, electricity and heat. Built in 2003, the 2,000 square foot home has three bedrooms, four baths and a walk-out basement. The sellers are moving, so Cates says they chose auction to expedite the process. There is no minimum or reserve on this auction so the home and land will be sold to the highest bidder(s).
For those wanting a little less acreage, on May 29th, Cates will be selling a three bedroom home on 3.3 rolling acres just northeast of Liberty, Missouri. The true ranch home has a large sun/breakfast room addition, an updated kitchen, and three-car garage. The partially-timbered land also has a metal outbuilding. Cates says this is a great way to live close to town but with a peaceful country setting. The real estate, along with the personal property is all being sold at absolute, no reserve auction as an efficient method for settling an estate.
On June 5th, bidders will have the opportunity to compete for a 38-acre country estate complete with wildlife, a 3.5 acre lake, scattered timber, a barn, and a four-bedroom home. (28 of the acres are tillable.) The property even has an 18-hole disc golf course! For those who prefer their golf with clubs and balls, Cates notes that the location is just east of the Tiffany Greens Golf Course which also makes it convenient to shopping, dining and entertainment options. As these sellers are downsizing and selling their lifelong collection of antiques and other personal property as well, they chose auction to simplify the entire process.
Information on all three properties, including photo galleries and open house dates, can be found at www.CatesAuction.com. The site also provides a complete auction calendar of residential, land, commercial, and personal property auctions taking place in the next 45 days. Owners curious about selling at auction can contact the company at Sold@CatesAuction.com or by calling 816-781-1134.
Cates says additional acreage auctions will be announced throughout the summer and fall. While such auctions are certainly part of the legacy of this successful third generation business, when he reflects on similar home and land auctions conducted over the years, Cates is amazed by how much has changed. “My father and grandfather would be thrilled to see the caliber of our professional staff and the leading edge technology we utilize to market properties and extend bidding accessibility. They would certainly be proud of our status as a recognized leader in our industry.”
PRIME COMMERCIAL LAND TO BE AUCTIONEDAs seen in the Kansas City Star
With the Federal Reserve’s Beige Book reporting continued economic growth across most of the United States in February and March, commercial real estate markets were described as “stable or improving” in most Districts, including Kansas City and St. Louis. Michael VanBuskirk, Senior Vice President-Principal with Newmark Grubb Zimmer concurs, noting that “The Kansas City market continues to see very positive growth across all property sectors.”
Against this optimistic backdrop, an unusual opportunity to buy prime commercial development land in Kansas City was recently announced. The tract, which VanBuskirk describes as “highly desirable” consists of approximately 42 acres just off Interstate 29 and Highway 152, in the northern part of the metro area. In addition to its proximity to the interstate and highway (which carry a combined 124,000 cars per day), the location is surrounded by recent retail, multi-family, residential, entertainment and office development. Neighboring retail includes such familiar names as Best Buy, Target, The Home Depot and all the tenants of Zona Rosa. Just last year, Sam’s Club purchased a tract across the street and recently received site plan approval. St. Luke’s hospital is around the corner and Kansas City International Airport is just up the road.
In addition to the benefit of being surrounded by thriving commercial and residential development, the unique layout of the site results in road frontage on nearly the entire perimeter. It is bounded on the south by NW Tiffany Springs Road and on the north and east by N. Ambassador Drive. NW Skyview Avenue will eventually provide a north-south connection on the western portion of the property. Adding to the value of the property is its inclusion in the existing KCI TIF District.
Zoned B3-3 Community Business District, there are a wide variety of potential immediate or future uses including retail and office. Given the mix of surrounding uses, multi-family and senior housing have also been mentioned.
For some observers, what makes this sale most intriguing, in addition to the value of the property, is the method of the offering. The entire tract, which was previously listed for $5,000,000, will be sold at a public auction on May 27th by order of the Platte County Circuit Court. The court has ordered a “partition sale” to provide each of the two owners with 50% of the net proceeds from the sale to divide their interests in the property. The court order provides for the Platte County Sheriff to conduct the auction with the assistance of VanBuskirk and an auction company designated by him.
Based on past partnership experience, VanBuskirk turned to Cates Auction & Realty to take the lead in marketing the auction and assisting the sheriff in the sale. Cates agent, Ray Bucklew, has been working with all parties to coordinate the process. “Our staff and Mike’s team are working hard to be sure the right buyers are aware of this very unusual opportunity to buy a prime piece of Kansas City commercial real estate at a court-ordered sheriff’s sale. It’s a unique situation and as expected, the response so far has been very positive” said Bucklew.
Jeff Cates, chief auctioneer with Cates Auction & Realty will be assisting the Platte County Sheriff in conducting the auction. He notes, “While our company has conducted many commercial real estate auctions over the years, this is the first time we’ve had the opportunity to assist in a sheriff’s sale.” He adds that, “in addition to the inherent value of this land, the appeal of the auction certainly is heightened due to the fact that while the final sale requires court approval, there is no reserve set for this auction.” A $50,000 deposit is due at the close of bidding with the entire balance due by 5:00 the same day. The buyer will receive a sheriff’s deed.
Interested bidders can find additional information relating to the property at www.CatesAuction.com, including survey and site plans, utility exhibit, sheriff’s sale documents and sample deed, TIF District documents and special terms for this sale. Bucklew will be on the property to meet prospective bidders April 29th from 11:00 a.m. to 1:00 p.m. Bidders may also contact the auction company at 816-781-1134 or Sold@CatesAuction.com.
The auction will be held at the Embassy Suites Hotel (760 NW Tiffany Springs Parkway) at 10:00 a.m. on Wednesday, May 27th. Bidders who qualify in advance may also bid live online. Bucklew sums up the upcoming sale by saying, “All of us involved recognize that in the currently improving commercial marketplace, this is truly an unprecedented buying opportunity.”
SELLERS TO GIVE REAL ESTATE AUCTION PROCEEDS TO LOCAL CHARITIES“As seen in the Kansas City Star”
Three local charities are eagerly anticipating the fall of the gavel on April 24th. On the auction block will be a sprawling 6,000+ square foot home situated on 10 picturesque acres in Jackson County. Chris and Stacey Payne own the property and are donating 100% of their proceeds from the sale to benefit three of their favorite charities.
To demonstrate their commitment to selling, the Paynes elected not to put a minimum bid or reserve on their real estate auction. That means the property will be sold to the high bidder regardless of the price. Jeff Cates, whose company, Cates Auction & Realty, is handling the sales says that “absolute” auction was a great choice by this seller. “Chris and Stacey have a real passion for these charities and wanted to be sure all buyers would know that this is a significant opportunity,” said Cates. He added, “The type and condition of this property make it very difficult to value, so this is the best way for bidders to know it will sell at true market value.”
The stately colonial home is need of updating and structural repairs, but offers 6,100 square feet on the main and upper floors with five bedrooms and seven bathrooms. Central to the floorplan is an expansive 1,200 square foot two-story great room with vaulted ceiling and floor-to-ceiling stone fireplace. A spacious finished basement adds full bar, second kitchen, bathrooms, and more living/entertaining space. There is also a three-car garage and two-story outbuilding.
Cates is particularly drawn to the 10-acre setting. He explains, “With the beautiful tree-lined drive and four-acre shared lake, there are many possibilities for this unique property. Some buyers may choose to renovate the existing home while others may see opportunity to build a dream home.” He encourages interested bidders to come to an open house April 12th or 19th from 2:00-4:00PM to walk the property and tour the home.
The home is located between Blue Springs and Lee’s Summit, 2 miles north of Lake Lotawana in the Lee’s Summit school district. Cates describes it as “close-in country living with all the amenities of the city.” The live auction will take place on the property at 8604 S. Shrout Road, Grain Valley, Missouri. Live online bidding is also offered with advance registration.
Photos and videos of the property, along with more detailed property descriptions and complete auction terms are available at www.CatesAuction.com/Shrout. A complete “Property Information Package” is available for download or by request and the auction company encourages all bidders to review it carefully before bidding. Questions may be directed to 816-781-1134 or Sold@CatesAuction.com.
Because it is an absolute auction, there is no minimum bid and the property will be sold to the highest bidder, regardless of price.
The fortunate charities sharing the proceeds of the sale include “Camp Quality” which benefits children with cancer, “Raytown Educational Foundation” which financially supports students and staff in the Raytown school district, and “Midwest Animal ResQ” which works to save companion animals. Links to each of their websites can be found at www.CatesAuction.com/Shrout.
Absolute Auction Natural Choice for Seller of Historic HomeAs seen in the Kansas City Star
Beverly Sue Ryan is no stranger to the concept of a real estate auction. As the Clay County Public Administrator from 1974 to 2004 her department frequently turned to the auction method to sell property they were responsible for liquidating. “Auctions were effective and just so much easier for us,” said Ryan. “Everything was prepared in advance and then taken care of in one day. And there were no delays along the way!” she added.
Now Ryan has decided to turn to the auction strategy to sell a historic home she owns in Liberty, MO. Located in the Dougherty Historic District just west of the square, the house was built in 1883 by prominent Liberty citizen, Richard L. Raymond. Raymond and his three daughters lived in the home until he built a more “modern” house immediately to the north. According to city records, it is significant for its architectural interest and as one of the earliest prominent homes on West Kansas Street.
Records on file in the State Historic Preservation Office describe the house as “cross-gabled Queen Anne, with original Eastlake detailing such as the turned porch supports, dentil molding, eave brackets, and the decorative porch frieze.” The two-story projecting bay and a wrapping front porch feature additional period details.
Over the years, the house has seen a number of changes. It has been a single family home and has also had the upstairs used as a separate apartment. Around the turn of the century it was a fraternity house and during World War II was temporarily converted into three apartments. Sometime later a garage and breezeway added much-needed functionality.
Ryan was enjoying renting the home when the owners opted to sell it in 1986 and she jumped at the chance to buy. A self-described “historic preservationist,” for the next 20-plus years she carefully maintained the home. She had the upstairs replumbed and wired, had new porch posts turned and rebuilt the front porch, and poured a sizeable new concrete driveway, steps, sidewalk and back patio. Eventually she moved out and has kept the property rented since. (It is currently rented to two tenants who each occupy a single floor.)
Ryan says that with age and other interests there comes a time to “downsize your activity” and so she’s decided to sell the historic home. A “no reserve” auction was the obvious choice. Throughout her 30 years in the public administrator’s office she routinely turned to Cates Auction & Realty as the auction company of choice. So a few weeks ago she naturally picked up the phone to call Jeff Cates and schedule her personal auction. “I was going to Dean Cates’ (Jeff’s grandfather) auctions long before I introduced auctions to the public administrator’s office. Many years of experience tells me this is the best way to sell my house,” she said.
Available for the first time in nearly 30 years, Cates says the house will appeal to a wide variety of potential bidders. For some, the current income stream is a draw, either as an ongoing opportunity, or while holding until a future renovation. For others, the historic appeal is a unique opportunity. Cates points out, “This property could easily be converted back to single family use and renovated into a stunning historic home. The City of Liberty recently implemented a ‘Chapter 353’ tax abatement program that makes this sort of project highly compelling.”
The home is located at 232 W. Kansas Street in Liberty. The absolute auction will take place on Friday, February 27th at noon. Bidding will be offered live at the property and concurrently online. Interested bidders may view the home during open house events on February 15 and 22 from 2:00PM to 4:00PM. Full details are available at www.CatesAuction.com or by calling Cates Auction at 816-781-1134.
Ryan is looking forward to the auction. “I always wanted an old house to have antiques and live in. I’ve really enjoyed that. It’s time to let someone else have the opportunity!”
Home Once Host to Prince Charles, Margaret Thatcher and Ronald Reagan
As seen in the Kansas City Star and The Independent
to be Sold at Auction
Magnificent 9,000sf penthouse residence in “The Walnuts” will sell to the highest bidder over $1.5M! (Seller investment exceeds $6,000,000)
As you step out of the elevator into the home’s foyer, and the room illuminates to greet you, it’s unequivocally clear that this is a very, very special place. The elegantly paneled walls, the deep crown moldings and the striking floor of Calcutta Gold and Black Marquina polished marble are just a hint of all that lies beyond. A few more steps into the entry hall and you’re treated to hand-painted wallpaper and jaw-dropping views through silk-dressed, leaded glass windows. Socialites, dignitaries, and even royalty have had this same moment. Yes, you’ve arrived.
As Coco Chanel succinctly put it many years ago, “Fashion passes; style remains.” In recent years, Kansas City has become home to many fashionable new condominium projects. However, in 1929 a development called “The Walnuts” was built just south of the Plaza adjacent to Loose Park. Timeless Jacobean architecture blended brick and stone into parapet walls, corbeled oriel windows, terraces and balconies. Tudor and Elizabethan influences found their way into the stone masonry, diamond-patterned brick work, heavy mullioned windows and handsome arched entrances. Still today, the three stately buildings preside over a private 10-acre estate comprised of a lush treed park to the south and a perfectly manicured English garden on the north. Style, does indeed, remain.
Topping the signature center building is a 2-story, 9,000 square foot penthouse mansion of leaded glass windows, grand rooms, and open terraces. The opulently-appointed home was formerly owned by Kansas City diplomat and businessman, Charles Price. In dubbing Price “Ambassador to the World,” The Kansas City Star reported that “Ronald Reagan, Margaret Thatcher and England’s Prince Charles were among the overnight guests” at the residence. The Star also noted that “During the Republican National Convention in 1976, the couple hosted media superstars and political dignitaries in the Walnuts condominium penthouse near the Country Club Plaza. Time magazine called it the social highlight of the convention.”
The home’s current owner has invested more than $6 million in the acquisition and complete renovation of the stunning property which now boasts state-of-the-art amenities, silk fabric-covered walls, and gold-plated hardware throughout. Under his ownership the home has continued to play host to significant events while serving as backdrop for a stunning collection of antiques and fine art.
After moving out of state he listed the property for sale. With no immediate buyer, and in consultation with his advisors, he contemplated a professional auction as a more expedient method of sale for the unique property. His Realtor, Doug Wasson of RE/MAX State Line recommended Cates Real Estate Auction Company and his attorney approved. “I know Cates has successfully sold homes in this price point and I felt like this was the best way to get the word out and find the type of buyer a property like this needs,” said Wasson.
Wasson was right, according to Cates vice president, Greg Duncan. “We’ve sold ultra-luxury homes as well as upscale condominiums at auction,” he said. “This home is basically a beautifully built and stunningly appointed mansion with all the luxury lifestyle amenities of a world-class condominium community… plus the privacy and jaw-dropping 360 degree views afforded by its penthouse location.” The result, says Duncan, is a residence unparalleled in Kansas City or the entire region. (The star-studded pedigree is an added bonus!)
Beyond the entry hall noted above, Duncan describes a magnificent home lifted from the pages of Architectural Digest. “Not a single detail, in any room or down any hallway, was left to the ordinary,” he says. As examples he cites gorgeous black lacquered doors throughout the residence, each with tastefully ornate gold-plated knobs and hinges by Sherle Wagner. The bathrooms in the home are also fitted with coordinating gold-plated Sherle Wagner finishings.
Fabrics, too, play an amazing role in the character of the residence, he says, from sumptuous brocade “upholstered” walls and ceilings to exquisite silk window treatments with lavish trim. Floors throughout the home are a mixture of old world materials including dark parquet wood, terrazzo with brass and copper inlays, plush wool carpeting, stone, marble and granite.
Elaborate moldings and architectural elements feature prominently. Of note is the repeated use of the classic “Reed and Ribbon” motif which is found in crown moldings, gold hardware, and even the ribbings of the corbeled dome ceiling of the grand center stair.
Timeless leaded glass windows throughout the home are opulently dressed with fine silk draperies and frame astounding views in every direction. From small balconies to expansive patios, private open-air living options (with irrigated landscaping) also maximize the views. Capping the east wing, a large conservatory is prelude to an expansive 1,000 square foot rooftop terrace. An artful combination of brick and stone parapet walls dressed with decorative iron define the space which offers unending views to the north, east and south.
Cates listing agent, Chad Bender, points out that the auction marks a change in selling strategy for the property. “Our sellers have invested more than $6 million in the home. However, they are ready to sell and have set their auction reserve at only $1.5 million.” He adds, “This means an unprecedented opportunity for the right buyer!”
Detailed descriptions, documents and photographs are at www.CatesAuction.com/TheWalnuts, but Cates also encourages qualified buyers to call 816-781-1134 to schedule a private tour. (Prospective buyers must demonstrate proper qualifications to make a tour reservation.) Bring your decorators and advisors. Experience the stately character, examine the amazing details, take in the sensational views and visualize the exclusive lifestyle.
The property will be sold at auction on January 30, 2015. Admittance to the auction requires advance registration, proof of funds, and pre-approval to bid. Online bidding is available with the same qualifications required.
True Custom Design and Luxury Features On The BlockAs seen in the Kansas City Star
Words like “custom” and “luxury” have lost meaning in today’s real estate market according to Greg Duncan, vice president of Cates Real Estate Auction Company. “Even upscale developments often seem to offer variations on a few standard floor plans and anyone with granite counters or stainless steel appliances feels comfortable throwing around the word ‘luxury’ these days” says Duncan. He adds, “If the same feature is found in homes up and down the street, it’s a bit of a stretch to call it ‘custom’!”
Contrast that with a home Duncan’s company will be selling at auction on Friday, December 12th that he says truly meets the definition of both custom and luxury. When the owners began design of the home, they wanted a plan that was truly unique and could meet the sometimes competing demands of comfortable living and grand entertaining. They also wanted to create a home to showcase their growing collection of artwork.
A perfect example is the striking atrium of the home which anchors the entry hall, living and dining rooms. The octagonal space is defined by tall columned arches that rise to support a 19 foot ceiling topped with a lighted dome. The centerpiece of the dramatic space is an octagonal pool with a 14 foot copper leaf motif fountain named “Whispering Cascade.” Renowned sculptor Charles White was commissioned by the owners to design the fountain during the construction of the home. The one-of-a-kind piece took more than a year to complete and features water gently falling from leaf to leaf down all sides of the sculpture.
Many other elements of the interior take their cues from the design of the front rooms. All throughout the home there are high ceilings, arches, expansive windows, customizable lighting and special architectural touches that set the home apart. A number of the spacious rooms and wide hallways on both levels of the approximately 7,000 square foot home offer hand-embellished walls, lighted niches and display spaces for artwork and collectibles.
The home was laid out to allow for complete one-level living with the master suite, the large primary kitchen, multiple living and dining spaces, and laundry all on the main floor. In addition, the main floor features a garden room with triple arched windows that leads out to the upper deck, two fireplaces, an opulent power room, two additional bedrooms and a handsome study with warm cherry paneling.
Despite all that is offered on the main floor, Duncan says that the huge lower level, which was fully renovated in 2009, is truly indicative of the levels of custom design and luxury finishes the new homeowners will enjoy. Accessed by either a circular stair or elevator, the lower level continues the arch design them and integrates stone and wood to add definition to the open spaces. Multiple areas for gathering, entertaining, gaming and conversation flow easily.
A living/media room with remote blinds features a 72’ built-in TV on this level. The full bar has an integrated aquarium and the dining room features a wall of built-ins with a hand painted mural. A variety of outdoor living options were expanded during the renovation. The lower level also houses a guest suite complete with a large sitting room along with a few surprises like the wine room with custom iron doors and even a “secret” room accessed via remote controlled wall!
Executive Homes – Buyers Have Choices At December AuctionsAs seen in the Kansas City Star
As daylight ends earlier and holidays grab attention, real estate buyers are sometimes justified in thinking their buying choices during the winter seem to drop with the temperatures. Agents often see a drop in their inventory of homes during the winter as sellers focus on other priorities. However, Jeff Cates, president of Cates Auction & Realty has a different perspective with multiple fine homes on his company’s auction calendar over the next few months.
“Our sellers choose the auction method for a variety of reasons, but in every case, a motivation to sell quickly and easily trumps any seasonal second-guessing,” he said. Like most any month, the Cates December calendar of auctions contains a mix of real estate including several types of executive homes in different parts of the metro area.
For the northlanders who want an upscale community and access to private golf, fitness, dining, pools and other amenities the company is selling an elegant four bedroom home in “The National” in Parkville, Missouri, on December 5th. Located at 6520 N. National Drive, the traditionally styled brick-front residence was built in 2001 and is filled with upgraded features and finishes typical of homes in The National. In addition to new carpet and paint throughout, one thing that truly sets this home apart is the 1,188 square foot basement which was remodeled in 2007. The project was awarded “Best Remodel – $100,000” by NARI. Cates listing agent Chad Bender says, “The combination of unique spaces in the lower level, along with highly customizable lighting and sound configurations makes a fantastic asset to an already incredible home.” Cates Auction sold the home next door in June.
The Lakewood development in Lee’s Summit, Missouri, is another part of the Kansas City metro area that offers an address of distinction along with unique amenities. On December 11th, Cates will be selling a four bedroom ranch home that offers main-level living along with bonus rooms, built-ins and extra elements of architectural interest. Located at 4507 NE De La Mar Place, the house is situated close to two public docks to allow the new owners to take full advantage of the lake community.
For those who prefer a lifestyle with the benefits of private acreage, the company is selling custom-built four bedroom home on 10 acres in Edgerton, Kansas, at “absolute” auction on December 12th. The 7,300 square foot home overlooks a picturesque stone-bordered pond at the front of the property with multiple decks on the back of the home to take advantage of the views to the west. Cates listing agent, Rick Bradford, is quick to point out that, “One of the best features of this unique property is the nearly 5,500 square foot detached garage with heat, air conditioning, a full kitchen, bath and two loft rooms in addition to a woodworking shop and 10 spaces for cars and toys.” There is no seller’s reserve on this property at 19320 Edgerton Road, so it will sell to the highest bidder. Bradford explains, “Our sellers have already moved and wanted to send a clear message to the market that they intend to sell!”
Each of these properties will be open for public viewings this month and in December. Dates and times of the open house events, along with property details, photo galleries and related documents can be found at www.CatesAuction.com.
Cates summarizes, “These are just three of the wonderful properties coming up for auction this winter to demonstrate the variety of types and locations of homes that will be sold. As is always the case, buyers can rest assured that we only work with sellers who are intending to sell and are committed to the auction process.”
Just completing its 72nd year, Cates Auction and Realty Co., Inc. reports that 2014 will be another sales record as real estate owners around Missouri and Kansas continue to embrace the auction method buying and selling. More information on real estate auctions can be found at www.CatesAuction.com or by calling 816-781-1134.
Upcoming Land Auctions Keep Company True To HeritageAs seen in the Kansas City Star
Much has changed in the world and in the real estate industry since Cates Auction & Realty was founded in 1942. One thing that remains the same, however, is the appeal of a land auction.
From its earliest days, the company’s founder, Dean Cates, specialized in farm and land auctions. A quick perusal of the company’s archives of original sale bills reveals the details of those early auctions. Though many of those sales were before his time, current company president and Dean’s grandson, Jeff Cates, says his earliest memories of auctions often revolved around the sale of land.
Fast-forward 72 years and a look at the company’s current auction calendar confirms that land auctions remain an important part of the business model. In the first nine months of this year alone the company has sold more than 1,300 acres for eight clients. According to Cates, land auctions remain popular today for the same reasons that they were years ago. “Every piece of land is unique and holds different value to different people so auction is the best way to offer it fairly and get the best price,” said Cates.
Cates Auction & Realty has 2 significant land auctions scheduled for November. On November 7th, 380 +/- acres on NE State Highway HH in Cameron, Missouri, will be sold at public auction. The acreage includes rolling hills, valleys, creeks, ponds and hardwood timber. It is terraced, fenced and cross fenced, and has asphalt highway road frontage. It is perfect for livestock, crops, hunting, home sites or investment.
The property is comprised of two tracts which can be purchased separately or together. Tract one is approximately 160 acres is primarily used for grazing cattle and includes 11 acres of bottom ground. Cates notes that it could easily be divided into multiple smaller tracts. Tract two is approximately 220 acres, and is currently in pasture including 9 acres in beans. According to Cates, the farm has been in the same family for many years and the current heirs decided to sell. “They chose auction as to facilitate a simple, straightforward sale,” he said. This auction will be held at the Elks Lodge in Cameron located at 9018 U.S. Highway 69. Registration opens at noon.
The second major land auction is a 237+/- acre parcel located on Missouri Highway 150 in Lake Lotawana, Missouri, scheduled for absolute (no reserve) auction on November 21st. The property has asphalt road frontage and is fenced and cross fenced. According to Cates agent, Rick Bradford, “This versatile land is perfect for livestock, crops, hunting, home sites or investment.” It is also divided into two tracts. Tract one is approximately 79 acres primarily used for soy beans and corn. Tract two is approximately 158 acres primarily used for grazing cattle and hunting, including 40 acres of crops. It features rolling hills, valleys, a creek and hardwood timber. Bradford adds, “The sellers chose absolute auction to provide complete transparency to buyers. The property will sell to the highest bidder at auction, regardless of price!” This auction will be held at the Lone Jack Civic Center at 509 S. Bynum Road. Registration opens at 9:00 A.M.
In both auctions bidders will be able to bid on a single tract as well as on the combination of tracts. According to Cates, “We frequently use this method for selling land because it ensures that buyers can bid on exactly what they want to buy.”
Details of both auctions, along with documents, terms, photo galleries and more can be found at www.CatesAuction.com. Information for prospective sellers of land can also be found on the website or by contacting the company at 816-781-1134 or firstname.lastname@example.org.
So who buys land at auction? According to Cates, just about every type of buyer has shown up to his land auctions over the years. High bidders are often adjoining property owners, farmers looking to expand, individuals wanting recreational and/or income-producing ground, developers and of course, investors. The most important thing he says, is that every interested buyer participate. “When it’s an auction, it’s always worth your time!”
Luxury Changes Hands At AuctionAs seen in the Kansas City Star
In the world of luxury homes, sometimes it’s hard to stand out, even in Kansas City. At the time of this writing there are 217 homes in the metro area for sale in Heartland Multiple Listing Service priced at $1,000,000 or more. A brief read through of the descriptions reveals a lot of similarities. After all, there are only so many ways to describe a dream home.
With only about half that many homes selling above $1,000,000 in a given year in the Kansas City area (also according to MLS), buyers of upper-end homes certainly have plenty to choose from. And they also have plenty of time. MLS reveals that the homes selling in this price range over the last three years were on the market for an average of nine months with many sitting for years before selling.
Against this backdrop one spectacular home does manage to stand out, for a variety of reasons that come together to form a truly unique opportunity for qualified buyers, according to Chad Bender, business development specialist with Cates Auction & Realty Company. “Like some of Kansas City’s finest homes, it sits on a golf course. But in this case it’s a beautiful Tom Watson signature course and the home is perched high at the end of private cul-de-sac overlooking uninterrupted views of manicured fairways and greens, forests and even a lake,” says Bender. The home’s architect, Scott Bickford, designed curved walls of windows, multiple porches, patios and outdoor living spaces to take full advantage of the unique setting.
Like other of the area’s grand residences, this home has custom finishings and unique touches throughout. However, Bender believes that in this case, it’s more accurate to think of the home as a gallery of integrated fine art. The full remodel, completed in 2010, reimagined the interior to incorporate original hand-blown glass works and lighting by Dierk Van Keppell, forged metals by Zahner Fabrication, custom leaded glass by Stew Langer, and signature lighting by Louis Poulsen.
Cates vice president, Greg Duncan notes that the owners made the wise decision (and substantial investment) to ensure the same top-notch level of treatment is found throughout the entire home, not just in the primary rooms. As examples he points to the jaw-dropping kitchen by Klewano which is equally equipped and matched in style by the full butler’s kitchen, also by Klewano. Duncan notes parenthetically, “The full outdoor kitchen by ‘Alfresco Open-Air Culinary Systems’ is a culinary adventure in its own right!” According to Duncan, bathrooms, bedrooms, hallways, even the garage entrance are all visual treats of the finest materials and tasteful fine art embellishments.
Unwilling to settle for the easily attainable, the owners sought out rare “Dali’s Dream” Brazilian granite for the master bath counters, a folding glass door system by NanaWall that makes an entire wall of the sunroom disappear, and a stone Palazzo bathtub originated in Italy and imported from South Africa. They eschewed the typical home theater for a full professional theater experience including a dedicated kitchen and bathroom. Bender summarizes, “The result is a truly remarkable home that delights, and even surprises, at every turn.”
One more significant fact unequivocally sets this signature residence apart from all others in the region. It is to be sold to the highest acceptable bidder at public auction on Thursday, October 30th at 10:00am. Having enjoyed the home but finding themselves spending increasingly more time at their country ranch, the owners decided to expedite the sale by contracting with North Kansas City based Cates Auction & Realty Co., Inc. Prior to conducting the auction, Cates is orchestrating an extensive customized accelerated auction marketing campaign to introduce buyers to this unique ownership opportunity.
The home is located at 6541 Ridge Road, Parkville, Missouri, in “The National,” an upscale resort-style community with two 18-hole golf courses, three pools, fitness/wellness center, tennis, trails, a beautiful sailing/fishing lake, fine & casual dining, plus the signature club house. Cates Auction is hosting open house events at the home on Sunday afternoons, October 19th and 26th from 2-4pm. Photo galleries, auction information and other resources are available at www.CatesAuction.com/RidgeRoad or by calling 816-781-1134.
Executive Home Owner Chooses Absolute Auction to Sell Personal ResidenceAs seen in the Kansas City Star
For those who don’t understand the power of a mainstream, professional real estate auction, it might have been a bit of a surprise to see the “Auction” sign go up in front of Jim and Bette Love’s home in The National, an upscale subdivision in the Northland. That’s just what Jim was hoping for. In fact, to add to the impact, he and Bette opted for an “absolute” auction without a seller’s reserve.
“Looking at the variety of other houses for sale around us right now, I wanted to do something different to stand out” said Love. “It’s such a wonderful home, it seems logical to me to bring buyers together and let them compete for it. We are prepared to accept what they are willing to pay, so why put a minimum requirement on it?”
The Loves custom built the home in 2002 and spared no expense. Love was an early partner in The National and believes the signature Tom Watson golf course located within walking distance of the home is among the best courses in Kansas City. Earlier this year they downsized to a penthouse in the new McCrite Plaza near Briarcliff. With that move behind them and the house spruced up for sale (new carpet, paint, etc.), they were talking about next steps. Jim’s son, Phil, recommended he call a long-time friend, Greg Duncan, to look into an auction strategy.
An adept businessman with a pension for trying new things, Love was intrigued. “We’ve moved on. I didn’t want to risk over pricing the house and working through multiple price reductions for months on end or under pricing it and leaving money on the table.” Coincidentally, about the same time a Realtor friend, who knew their desire for a good price with minimal hassle or delay, suggested they talk with Chad Bender, an auction specialist and agent with Cates Auction & Realty.
“When Jim walked us through the home and explained his goals, it was clear that a professional real estate auction was the perfect strategy for them,” said Bender. He added, “The National is a huge draw not only because of the prestige it carries, but because of the signature golf course, gorgeous club house, dining, pools, and all the other amenities.”
The home has 4 large bedrooms, each with a private bath, plus an upstairs “studio” with built-ins and a fireplace. The master suite is on the main level along with an office, great room, formal dining, hearth room, breakfast room, kitchen and 4-car garage. One of Bender’s favorite features is the Italian trattoria in the walk-out basement. He explains, “It has custom bistro-style window treatments, glazed walls, arches, and even upholstered booths with individual chandeliers!” The lower level also has approximately 2,000 additional square feet of unfinished space to expand living areas or add bedrooms.
Cates Vice President, Greg Duncan, is also enamored with the home. “Knowing the Love family, it’s no surprise that this home is thoughtfully designed and built with attention to the details that make it special.” As examples he cites the custom architectural millwork, gallery-style lighting for artwork and the large, well-appointed kitchen. “The combination of high ceilings and walls of windows take full advantage of the setting. The large lot backs to woods and the landscaping is a real visual treat” he added.
Jeff Cates, president of Cates Auction & Realty is looking forward to the auction. In the past few years his company has sold luxury homes in Leawood, Mission Hills, Tiffany Springs, and even The Lake of the Ozarks. He believes that the demand for upper-end homes is beginning to catch up with other sectors of the residential resale market. “Seeing how long some fantastic homes are sitting on the market though, it’s obvious that it is still tough to price beautiful homes like this accurately. That’s why an absolute auction is such a perfect way to bring buyers and sellers together.”
Love agrees. “I know what this house cost to build and I know all the things that make it wonderful, but I also know that the ‘market value’ is determined by the buyers, not by me. We want to sell it to the person who wants it the most and I’m looking forward to shaking hands with that person at the conclusion of the auction!”
The home will be sold to the highest bidder on June 13th. Cates invites prospective bidders to come to an open house this Thursday, May 29th from 4:00 to 6:00 or Sundays, June 1st or 8th from 2:00 to 4:00. Details about the residence, photos, video, documents and auction terms can be found at www.CatesAuction.com/Love. Bidders or home owners curious about real estate auctions can also call the company at 816-781-1134.