SOURCE: Woltz & Associates

Woltz & Associates

November 18, 2009 12:47 ET

Approximately 14,533 Acres of New River Gorge Area Woodland Sell for $12.25 Million

BECKLEY, WV--(Marketwire - November 18, 2009) - Approximately 14,522 acres in West Virginia's New River Gorge area have been sold for $12.25 million by Woltz & Associates. A live auction on Saturday, Nov. 14, capped off a three-phase sale that also included sealed bids and a private transaction.

"This land called for a combination of sales methods due to its versatile nature. Through sealed bids, a private sale and a live auction, we were able to achieve outstanding results," said Jim Woltz, president of the company.

The live auction resulted in the sale of 2,814 acres in Fayette, Raleigh and Greenbrier counties for $1.85 million. Before the live event, 10,124 acres were sold for approximately $8.33 million through sealed bids, and 1,584 acres in Fayette County sold for $2.06 million in a private transaction.

The auction attracted approximately 140 people -- including 51 registered bidders -- to the Tamarack Conference Center in Beckley, W.Va. The bidders spent more than two hours bidding actively on individual tracts and combinations of tracts. At the end of the bidding, the land had sold to seven different bidders.

"People keep talking about how hard it is to sell land in the current economic climate, but it just means we have to work extra hard, offer the right kinds of properties and reach the right bidders. This sale included land with excellent recreational opportunities, even though some had limited access, most did not include mineral rights, and much of the timber had been cut," said Woltz.

Woltz & Associates, a national real estate company headquartered in Roanoke, Va., specializes in the sale of land, estates and commercial properties through auctions and broker listings.

Upcoming sales include a home on Claytor Lake in Pulaski County, Va., set for Nov. 24, and 31 mountain home sites in Burnsville, N.C., set for Dec. 12. Sales slated for early 2010 include eastern Virginia farms and approximately 7,500 acres of recreational land in Georgia. Individuals interested in more information about these properties and other sales may contact Woltz at 800-551-3588 or visit the company's web site at www.woltz.com.

Contact Information

  • For more information:
    Carl Carter
    205.823.3273