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Annexed auction continued to July 2

By Staff | Jun 19, 2009

Not a single bid was made on any of the six undeveloped Shepherdstown lots up for public sale at 11 a.m. Tuesday at the entrance to the Jefferson County Courthouse in Charles Town. The auction is continued until 11 a.m. Thursday, July 2, at the same location.

The land, which to tals just under 20 acres off East German Street, was annexed into the town limits last year. But the owners of the property, where a 68-townhouse subdivision has been in the plans for more than five years, defaulted on the deed and note held by United Bank of Shepherdstown.

Sale trustee attorney Stephen Mathias presided over the auction where two people one an adjacent property owner, the other the mother of a Shepherdstown property owner and a United Bank representative were present. No representative with Rivendell, the current owner of the property, was present.

Mathias opened the bidding at $2 million on the six lots combined, and lowered the price to $1.5 million before closing the bidding and offering the six lots individually or in combination with other lots. The auction prices for the oth er lots ranged from a $44,000 opening bid for the smallest parcel up to a $1.3 million opening bid on the largest, roughly 11-acre parcel.