18 Condominiums in the North Carolina Blue Ridge Mountains Offered in June 5th Developer Close-Out Auction by Sheldon Good & Company

BANNER ELK, N.C., May 11 /PRNewswire/ -- The final 18 mountainside residences at The Lodges at Elkmont, a 56-unit luxury condominium community set in the Blue Ridge Mountains in Banner Elk, NC, will be sold at a developer close-out auction on June 5th, 2010, by Sheldon Good & Company, a Racebrook Portfolio Company (www.sheldongood.com).

The first second-home real estate auction to take place in the North Carolina marketplace will provide buyers with value-laden opportunities to own luxury mountain retreats set in the heart of the High Country and located only two hours from both Charlotte and Greensboro and three hours from Raleigh.

Minimum bids from $125,000 are up to 74% below the original asking prices, which ranged as high as $771,000.  Eight homes are guaranteed to be sold subject to minimum bids.

The seller selected Sheldon Good & Company based on its nation-wide track record of executing successful accelerated sales programs that effectively reinforce value for prospective buyers through competitive bidding.  The auction will essentially cut months off of the conventional marketing program, resulting in considerable savings that will be passed onto the buying public through discounted pricing.

The Lodges at Elkmont's open outcry auction will be held on June 5th at the Embassy Suites Hotel at the Greensboro Airport, located at 204 Centreport Drive in Greensboro, NC.  Registration begins at 11am with the auction commencing at noon.  

Homes offered at the auction may be viewed during Open Houses on May 15th, 16th, 21st, 22nd, 23rd, 27th, 28th, 29th, 30th and 31st, all from 11am to 3pm.

"This is the first time properties in a second-home, resort-style community in North Carolina will be sold at auction, resulting in a rare one-day opportunity to acquire remarkable, well-appointed residences in a breathtaking mountain location at significantly discounted prices," notes John Cuticelli, Jr., CEO of Sheldon Good & Company.  

"Blending seamlessly into its natural surroundings, the residences at Elkmont combine timber and stone accents with rugged lodge-style architecture to create a truly unique upscale mountain retreat.  Surrounded by the majestic Blue Ridge Mountains, the property offers beautifully landscaped grounds, preserved conservation areas, and walking trails -- all bordered by a natural mountain stream."

Auction bidders can choose from the eighteen residences which offer five distinctive floor plans ranging from two- to three-bedrooms and approximately 1,200 to 2,350 square feet of living space.  The homes' interiors boast custom vaulted ceilings, floor-to-ceiling stone fireplaces, handsome oak floors, designer kitchens and baths, and oversized covered decks perfect for enjoying the outdoors.

"The Lodges at Elkmont offers an incredible variety of year-round outdoor adventure and recreation," points out Mr. Cuticelli.  "The town of Banner Elk, known as 'The Ski Capital of the South,' is ideally nestled between several outstanding ski resorts, including Beech Mountain and Sugar Mountain resorts.

"As the High Country thaws, residents stow their skis and unpack their golf clubs, kayaks, fishing poles and hiking boots in anticipation of the numerous spring and summer activities offered.  Banner Elk comes alive with its many festivals, attracting tourists from all over the country.  In addition to all of these great activities, the Banner Elk area offers residents excellent dining and nightlife options as well as impressive arts and unique shops"

A detailed Bidder's Information Packet has been assembled containing pertinent information on the auction, and the Terms of Sale. The Packet is available for $20.  The purchase of a Bidder's Information Packet is a requirement to bid.  Certified or cashier's checks are also required to buy.

For more information, call Sheldon Good's auction line at 800-315-2199 or visit The Lodges at Elkmont auction website at www.sheldongood.com/elkmont.php.  For more information on The Lodges at Elkmont, visit www.elkmont.info

About Sheldon Good & Company

Sheldon Good & Company (www.sheldongood.com) is the nation's premier real estate auction firm. Founded in 1965, the organization is frequently acknowledged as the innovator and leader in real estate auctions by prestigious publications such as Forbes, Fortune, The Wall Street Journal and others. The firm has sold more than 40,000 properties in over 100 asset classes by leveraging its sophisticated accelerated marketing programs and superior real estate expertise. Owned by Racebrook Capital, a private equity firm in New York, Sheldon Good & Company has regional offices in New York, Chicago and San Francisco.  Sheldon Good & Company has been rated the premier real estate auction company by a number of prestigious financial publications. The company has aggregate sales of over $10 billion.

SOURCE Sheldon Good & Company