Source: The Greeneville Sun
Ross Hogan Estate, His ‘Hobby Farm,’ Sells For $390,000
BY TOM YANCEY
STAFF WRITER
When you picture an economy still in recession, an estate sale that draws 800 registered buyers is not the first thing that comes to mind, but that was the case last Saturday in western Greene County.
John Carter, owner of Carter Real Estate & Auction, said the auction of the Ross Hogan estate on Carpenters Chapel Road near Mohawk Crossroads drew 800 registered buyers and a crowd of at least double that number.
Hogan, a Whitesburg resident who operated a successful roofing business in Greeneville for many years and was well known in the region, died about six weeks ago.
Carter said Hogan made plans for his “hobby farm” to be sold at auction before he died. “It was done the way he wanted,” said Carter, a longtime personal friend.
“I was surprised at the turnout, and surprised at the amount of bidding,” said Carter, who has 45 years of experience in the real estate business.
The auction started at 10 a.m. “We still had a crowd at 5:30,” Carter said.
35 TRACTORS SOLD
One big draw was the 35 tractors in Hogan’s collection, “all in excellent condition,” Carter said, and most of them antiques. One late model Ford tractor brought $30,000, he said, while antique John Deere tractors brought $6,000 and more.
“They all brought really good prices,” Carter said.
“Given today’s economy, it was a ray of sunshine,” Carter said. “We had very spirited bidding,” and unseasonably cool weather. “God blessed us with a beautiful day,” he said.
“We had buyers from eight states,” Carter said, many of them tractor collectors. Carter said tractor fanciers were aware that Hogan “didn’t have any junk.” Many farm implements were also offered.
Sixty-three acres were also sold, Carter said, much of it in “acreage sites,” large potential homesites with views of the mountains.
Though the property was offered in 31 tracts, only nine buyers paid a total of $390,000 for the land, Carter said, an average of more than $6,000 per acre.
“Typical acreage prices are $3,000 to $4,000″ for farm land, “down somewhat from a year ago,” Carter said, though prices are usually higher closer to Greeneville.
But in general, few lots are being sold right now, Carter noted.
Carter said he has noticed that more farms being offered at auction are selling intact, as farms, than in recent years, a trend he is pleased to see.
The Mosheim Volunteer Fire Department provided food during the sale, he said.
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