North Carolina recreational, timber land sells at auction for $2,125,000

LITTLETON, N.C., Oct. 29, 2014 /PRNewswire/ -- The property known locally as the Stansbury Farm – approximately 1,367 acres of managed timber, recreational and pasture land in Halifax County, N.C. – sold for $2,125,000 Tuesday in an auction managed by Murray Wise Associates and Woltz & Associates.

The auction attracted a capacity crowd, including 45 registered bidders, to the Littleton Community Center. After an extended tug-of-war, a single bidder finally purchased all of the land.

"We had a number of bidders who were interested in the timber, and others who were seeking tracts for hunting and fishing, but ultimately, it all sold together," said Kenny Schum, who managed the auction. "The land had a lot to offer both groups. It had been managed for timber, but it also had a lot of game and a nice creek running along one side."

Auctioneer Russell Seneff said most of the bidders were seeking just part of the land. "We had a lot of guys who were just looking for 100 acres or so, and we saw bids on the land in every conceivable combination. It nearly wore me out," said Seneff.

The auction was conducted on behalf of Roanoke Timberlands, LLC, the Debtor-in-Possession, United States Bankruptcy Court, Eastern District of North Carolina. The successful bid was accepted by the Debtor-in-Possession and is subject to final court approval.

Individuals seeking additional information may visit www.murraywiseassociates.com, www.woltz.com or call 800-607-6888.

Murray Wise Associates LLC, headquartered in Champaign, Ill., is a leading national agricultural real estate marketing and financial advisory firm, with additional offices in Florida and Iowa.

Woltz & Associates, based in Roanoke, Va., is one of the nation's top auction companies specializing in mountain land, timberland, farms, homes, commercial properties and other high-value real estate

For more information:
Carl Carter, 205-823-3273

SOURCE Murray Wise Associates

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