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Granite Bay Real Estate is Auctioned
July 16th, 2008 categories: Granite Bay, Real Estate
Granite Bay, CA had a real estate auction last weekend. Did you hear about the incredible real estate in Granite Bay, CA that was auctioned off? It was the deal of the century.
And unlike other real estate auctions, this one was REAL. Some of those other play auctions that take place where the bank has 30 days to change their mind with the winning bid, this one was not a bank auction but an auction from the seller.
What an exceptional buy Mr. Kuhn made for $1,485,000 . With over $5 million worth of improvements on the land at this exceptional property, the new owner certainly got his moneys worth. Take a little tour of this bit of paradise in Granite Bay, CA and come back to read who actually owned The Pond…you might be surprised.
Check out the video of this prime piece of Real Estate
Gary Cino, is the founder of the 98 Cent Clearance Center chain that he sold to Dollar Tree Stores and now is a real estate developer who has owned 8300 Moss Ct. in Granite Bay known as The Ponds in Granite Bay. Look at what yours spent dollars helped build here at The Pond.
Back in 1998 Cino decided to buy the property across from his own house since it was an eye sore. He wanted to make a fishing hole which turned out to be a $5 million dollar project with boulders, waterfalls, 3 gunite-lined ponds 17 feet deep stocked pond with trophy trout, boat and kayak docks, bridges, golf platform, tiki huts, full outdoor kitchen, island dining gazebos and places for the kids to explore and play.
The ponds were created with the ecosystem in mind, equipped with sound infiltration systems for excellent water quality for fish, foul, flora and fauna.
Cino’s family has now grown up and it was time for him to sell. After weddings and charity events along with very little time to enjoy his property, Cino listed his property for sale. The property was listed back in 2003 for $5,500,000 and again in 2008 for $4,998,998 but didn’t sell.
Cino hired O’Callaghan Auctioneers of Lincoln who spent $100,000 advertising for a buyer to auction off his property at an absolute auction (highest bid wins with no minium bid).
Now, in this park-like setting the new owner can build a house. There is a spot already waiting for a 20,000 square foot home to be built. Mr. Kuhn has one of a kind right across the street from Los Lagos.
If you as a home buyer missed the sale of the century don’t loose hope, there are other homes for sale in Granite Bay, CA that you might like. I must say, I don’t think anything will compare to this one, though.
Click to view Exceptional Homes for Sale in Granite Bay.
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Other Articles you may find of interest:
Granite Bay California An Upscale Community
Roseville CA and Granite Bay CA June Home Sales Report
Granite Bay Home Buyer Looking for Mansion
Home Buyer in Sacramento Buying in Granite Bay Speaks Up
Granite Bay California Overview
Wow! The rich just keep getting richer. What a beautiful place. I can’t wait to see the home that will be built on this property or maybe the land will be flipped???
Hello
Very nice blog. I really enjoyed reading it. Recently I wanted to buy a house and I search online for sites like yours to educate myself on the process. After several recommendations and referrals I called for a home inspection and they inspected my house for me. I am so glad I search online and got advice on this step in the buying process.. I found out a lot of things about the house that I would not have known.. in fact I even used it to negotiate over $10,000 dollars off the asking price. Anyway, I look forward to all the updates. Thanks again.
Jessica
I don’t think there will be any flipping. Now, is not the time for that. I do however, look forward to seeing a house built.
Jessica,
Since we don’t advertise others within a post, your link was deleted.
I am glad that you found a good home inspector along with excellent advice.
Love your blog and all your human interest stories. I’m just getting started on blogging and this story was quite interesting although I’m not sure exactly how much the buyer paid.
Margaret,
Thank you and I wish you the very best with your new blog.
The lucky buyer purchased this exceptional property for $1,485,000. Quite a deal!