Today, January 25th, I went to the first live auction at Montreux. The property was a small cottage on Wetzel Court, 2,250 sq feet.

I was surprised to see many home owners were there to watch the process and a few ready to bid.  One could bid one line as well. Of course we had all done our due diligence, had the place inspected for any structural problems or pest issues.  The property was last sold for $900,000 and the opening bid was going to be $50,000.

Most people where not ready to go higher than $400,000 dollars.  I would say the place needs about $15,000 put into it to make it a good rental or 2nd home.  I know for certain that one could not build this cottage for the price it sold for.  It is extremely high end  with top appliances, great hardware,  tiled and carpeted floors and  has the 11 inch thick walls, built out of Arxx.  Added to this one has to remember that is is  in the private gated community of Montruex Golf and Country Club  with its Jack Nicklaus Signature golf course.

It sold for $425,000 dollars to a bidder on line.  Now the seller still has to accept the offer.

If you or anyone you may know have real estate questions or inquiries in the Montreux, Galena Forest, ArrowCreek, Saddlehorn, St. James or Scotch Pines areas, please contact Louise Simpson by email at louise@montreuxgolf.com or by cell at (775) -750-1901.