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Auction company J.P. King opened the auction of Duane Hagadone's old residence on Thursday afternoon, 
and 20 minutes after 2 p.m., the auction ended. Two registered bidders were interested in the property, at 3155 E. Harrison, on 15 acres of Stanley Hill. Neither bidder came up to the reserve price of $7.5 million. Look for a story later this evening on Spokesman.com that fills in some of the blanks. Perhaps the bidders were turned off by some of the glaring inadequacies of Mr. Hagadone's home on the hill. Such as: No built-in vacuum system; no trash compactor (the shame); no air purifier (admittedly not needed in these parts); and no sauna/SR Office Hours. More here.
Question: Why didn't anyone make an acceptable offer for Duane Hagadone's discounted Cherry Hill property?
D.F. Oliveria is a columnist and blogger for The Spokesman-Review. Huckleberries Online was judged the best 2008 Idaho newspaper blog by the Idaho Press Club. And the best 2007 news blog in the Pacific Northwest by the Society for Professional Journalist. Print Huckleberries is a past winner of the Herb Caen Memorial Column contest by the National Association of Newspaper Columnists. The Readership Institute of Northwestern University cited this blog as a good example of online community journalism.
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brentandrews on September 08 at 5:59 p.m.
Here’s hoping the upcoming story examines the high end real estate market and what’s happened to it lately. The Federal Housing Finance Agency’s Transaction Index shows Couer d’Alene real estate continuing to decline and despite what we’ve all been thinking, or hoping, the decline is getting worse not better. The second quarter 2011 numbers are as bad as the first quarter of 2010, deep in the recession -
Year Quarter Coeur d’Alene, ID
2011 2 -12.11
2011 1 -11.53
2010 4 -9.19
2010 3 -10.05
2010 2 -9.29
2010 1 -12.35
2009 4 -10.27
2009 3 -6.46
2009 2 -6.24
2009 1 -5.07
2008 4 -4.97
2008 3 -6.27
2008 2 -2.77
2008 1 -1.14
2007 4 0.29
And that was as fast as it’s fallen since this all started. The rate of decline may be on the rise - and the high end will suffer the most.
Federal Housing Finance Agency HPI Index - http://www.fhfa.gov/Default.aspx?Page=216&Type=compare&Area1=17660&Area2=&Area3=
brentandrews on September 08 at 6:25 p.m.
I enjoyed shopping the http://www.kbennett.com/ site - looking at the high end real estate in and around Coeur d’Alene. There are a lot of choices in the $4 million to $10 million range, most of them lake properties.