A home on the Sacramento River that will go to auction later this month had a recent asking price of $2.3 million.
That's a rarefied price range in Sacramento real estate. Only a handful of homes here sell for more than $2 million. Those that do often sit along the bluffs of the American River or, as in this case, on Garden Highway beside the Sacramento River.
There are only a small number of homes in such unique and desirable locations, and properties there rarely go up for sale.
In this case, owner Doug Cummings decided to sell his home via a New York auction house, Concierge Auctions, to reach the most buyers, nationally and internationally, including those in the far more expensive San Francisco Bay Area – and even in China, he said.
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"I thought it was a real good opportunity to expand exposure," Cummings said.
He's also hoping to sell the house quickly. Listing it locally for $2.3 million didn't result in a sale, and his agent told him it could take one to three years to find the right buyer.
At auction, the home will sell to the highest bidder, regardless of price.
Pricey real estate auctions in Sacramento are even rarer than $2 million homes. Other homes offered by Concierge include a $30 million estate in Key Biscayne, Fla., and a villa on Mauritius Island, in the Indian Ocean, last listed at $4.5 million.
Cummings, who trained as both an engineer and attorney, designed his Garden Highway home, a blocky white modern structure with more than 7,500 square feet, six bedrooms and two home offices. It has 490 feet of river frontage near Sacramento International Airport.
Cummings said he designed the home so that its bottom floors were higher than even the worst projected flooding, a common problem for homes on the river side of the levee.
Construction was completed in 2001. Cummings, 78, said his wife died last year, and the house is too big for him alone. He's building a smaller contemporary house in Folsom.
"It's more suitable for an old geezer like me," he said.
Cummings said he and his wife enjoyed the decks overlooking the river, and the natural landscape on the 1-acre-plus property.
"There are trees, bushes, and lots of wild animals," he said. "It's like being in a forest away from humanity but close to downtown."
"I'll miss it," he said. "It's so open and quiet."
Bidding starts April 17. For more information, go to www.conciergeauctions.com/auctions/6301-garden-highway-sacramento-california.