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Stagnant Market Leads to Auction of Lakefront Home
Flathead Auction
BIGFORK – The stagnant market for upscale homes is leading to the auction of a Flathead Lake estate originally purchased for $3.2 million.
John Thornton, a real estate developer from Tennessee, has been trying to sell his lakefront property for two years. The hilly 5.5 acres includes a three-bedroom 1940s-era house, a modest guest house, a small cherry orchard, and 345 feet of water frontage.
He is now turning to a novel approach for such a property: An "absolute" auction on Thursday that ensures a sale to the highest bidder in a live auction no matter how low the highest bid may be.
Real estate agents say the market is slow for expensive Flathead Lake waterfront homes.
John Thornton, a real estate developer from Tennessee, has been trying to sell his lakefront property for two years. The hilly 5.5 acres includes a three-bedroom 1940s-era house, a modest guest house, a small cherry orchard, and 345 feet of water frontage.
Real estate agents say the market is slow for expensive Flathead Lake waterfront homes.
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