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Homesites on Smith Mountain Lake in Virginia sell for $17,020,500

A major auction of land on Virginia's Smith Mountain Lake resulted in the sale of all the land for a total of $17,020,500.

The December 2 auction, which consisted of 37 parcels in Franklin County, was conducted by Woltz & Associates, Murray Wise Associates LLC, and Schrader Real Estate and Auction Company. The land included 3.2 miles of lake frontage and 29 waterfronts lots.

“We’ve been selling property around Smith Mountain Lake for decades, but this was probably the most beautiful ever. We had many gorgeous, wooded lots with hundreds of feet of water frontage. People immediately realized the value and responded in a big way,” said Russell Seneff, auctioneer and real estate broker for Woltz.

“We had a crowd of approximately 400, with 143 registered bidders. The 37 tracts had 27 different buyers, including buyers from Florida, New York, Georgia, North Carolina, Pennsylvania, and all over Virginia,” said R.D. Schrader, president of Schrader Real Estate and Auction Company.

Schrader Real Estate and Auction Company, based in Columbia City, Indiana, is a leading auctioneer of agricultural land and equipment throughout the United States. The company is a five-time USA Today/National Auctioneers Association Auction of the Year winner.

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