Global Real Estate Auctions to Auction Diamond Point Resort Townhomes in New Buffalo

. May 15, 2009

Global Real Estate Auctions, Inc. announces today the upcoming auction of 11 brand new townhomes and one cottage at the Diamond Point development in New Buffalo, Mich., one of the Chicago area’s fastest-growing and most accessible lakeshore resort towns, with newly improved rail access that now beats many local suburbs for fast accessibility to the city, while providing a year-round restive lakeside retreat atmosphere.

Amtrak is now constructing a rail platform close to the Lake, just minutes away from this development, located at 1313 Buffalo Street (Rt 12/20) in New Buffalo. This will improve the availability of regular trips to the area.

“As a result, New Buffalo now provides something you may have assumed doesn’t exist in today’s economy,” said John DeMato, president and CEO of Global Real Estate Auctions. “And that’s an affordable resort-style property that can be used as both vacation home and weekday commuting hub.”

With the use of “Pooled Unit Bidding” or “Bidders Choice”, the auction will provide a one-time only opportunity for bidders to realize their dreams of owning a luxurious home of their choice, near the lakeshore, at a price they want to pay, DeMato said.

Three of the units, which were previously priced to nearly half a million dollars, will be sold “absolute, regardless of price” – and the high bidders will have their choice of all available units in that round of bidding. This auction will be a demonstration of a trend rapidly increasing in the current market toward the use of auctions to sell luxury resort properties once thought the exclusive province of conventional pre-sales and spring mark-downs.

“In recent years, more and more sellers have seen the benefits of the auction for luxury properties – and the current economy has only accelerated that trend,” said Vincenzo Zaffarano, executive vice president and lead auctioneer of Global Real Estate Auctions.

The townhomes and cottage feature:

Spectacular sunsets and lake views from the roof decks which top the townhomes, located just a few short blocks from the beaches of Lake Michigan.
An indoor pool, clubhouse, hot tub, fitness center and courtyard shared only by Diamond Point residents, extending summer vacation activities year-round.
Stone fireplaces, hardwood floors, premium fixtures (including Corian countertops and SS appliances).
Proximity to quaint lake town boutiques, fine dining, local wines, and New Buffalo’s regionally renowned upscale Four Winds Casino.
Each townhome boasts three bedrooms, three full baths, 5 private decks and attached one-car garage. The cottage also has three bedrooms, 2.5 baths, an open front porch and a side screened porch.

The multi-leveled nature of the townhomes could allow luxury for multiple generations of extended family, or could even be ideally suited for multiple families to share ownership – an increasingly common method for families in the market for a second home during today’s less certain economic times.

Open houses will be held on Saturdays and Sundays, May 16, 17, 23, 24 and on Memorial Day, May 25, all from 11 am to 3 pm Eastern Time. Interested bidders can obtain a bidder’s package, available by calling (877) 920-1326 or (630) 920-1327. The auction will be held June 6 in New Buffalo at Marina Grand Resort, 600 W. Water Street with registration at noon and the auction at 1 pm EDT.

About Global Real Estate Auctions

Global Real Estate Auctions, Inc. principals, brokers and agents have international experience with many high-profile properties including another recent successful auction in New Buffalo and two of the only Frank Lloyd Wright homes ever sold or marketed at auction. They have also participated in highly publicized commercial auction sales on behalf of Fortune 500 companies such as Intel Corporation (marketing a chip plant in Las Piedras, Puerto Rico), Harris Bank and General Electric. Global Real Estate Auctions is a sister company of Global Real Estate Consulting Corporation with offices located in the Oakmont Corporate Centre, 900 Oakmont Lane, Suite 207, Westmont, IL 60559. For more information, visit www.globalrealestateauctions.com

Category: Auction News

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