Real estate circles are buzzing over the record sale of luxurious Timber Creek Ranch, a 346-acre western playpen on Lake Cypress Springs, 90 minutes east of Dallas. Concierge Auctions, which conducted the sale on site at the ranch, said it represents the highest residential sale price ever in the Lake Cypress Springs area.
The price tag isn't being disclosed, neither is the buyer, but Second Shelters reports that the sale was in the range of $8 million for the property that was previously estimated to be valued at $15 million. The auction house says that there were nine bidders, one from as far away as China. Second Shelters adds that it was a Dallas buyer who picked up this gem of a working and recreational ranch.
Billy Long, head of Concierge Auctions' Land & Ranch Division, noted in a statement, "We ended up with a happy buyer and seller, not to mention the largest sale in Lake Cypress Springs history."
Also happy were listing agents Kyle Crews of Dallas' Allie Beth Allman & Associates and Ralph Robertson of Century 21 Butler Real Estate Services.
The magnificent property in the piney woods of East Texas includes five structures with a total of 11 bedrooms, a spa, boathouse, fishing pro shop and activities that include horseback riding, hunting, skeet and rifle ranges, a paintball course and fishing in two private stocked ponds as well as in the lake.
Texas longhorns, horse and miniature donkeys are among the ranch residents.