Stephen Carpenter-Israel, Broker of Buyer's Edge, Represents Homebuyers of Historic Clifton Farm Outside Berryville, Virginia
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Hall and Hall - Historic Clifton Farm Berryville, VA
Stephen Carpenter-Israel, President/Broker of Buyer's Edge Real Estate Company in the Greater Washington, DC Metro, recently had the rare opportunity to represent the homebuyers of an extraordinary property called Clifton Farm in Berryville, Virginia. The 411-acre farm is listed on the National Register of Historic Places and was once owned by one of George Washington's cousins. Stephen's past clients were intrigued by the manor home built in 1834 and the surrounding property. When they learned that Clifton Farm was heading for auction by Hall and Hall Auctions, the homebuyers asked Steve to represent them. They wanted to maintain their privacy as they pursued the purchase of this one-of-a-kind estate only an hour away from Washington, DC.
Hall and Hall is the largest full-service real estate brokerage of one-of-a-kind estates, farms, and ranches in the United States. With 18 offices throughout the West, they specialize in taking to auction large estate properties, big farms, enormous ranches, and some of the most extensive, pristine tracks of land available out West. Luckily for Stephen's clients, Hall and Hall also works with East Coast sellers. They reported that their "real estate brokerage and real estate activities range from $500 million to $1 billion in sales per year."
Hall and Hall - Clifton Farm OutBuildings
Located in Blue Ridge Hunt Country, Clifton Farm is in the heart of the Shenandoah Valley of Virginia. The 411-acre property with a pond has unobstructed views of the breathtaking Blue Ridge Mountains and acres of rolling farmland. The main manor house has four bedrooms, four bathrooms, and seven fireplaces. A gorgeous, fully renovated three-bedroom stone guest house built in 1844 is nearby. Other structures on the farm include a barn with four stalls, a milking barn, garages and storage facilities, three silos, and the original outside “Old Stone House” kitchen. Paved roads on the property make it easily accessible. The beautifully landscaped grounds have long, winding stonewalls. An infinity pool and tennis courts are ideally situated on the property to take full advantage of the views of the majestic Blue Ridge Mountain.
Hall and Hall - Morning Mist at Clifton Farm in Berryville, VA
This unique property offers the best of both worlds to homeowners. "It's a very short drive from D.C., but when you get to Clifton, you're so secluded and private," said Scott Shuman of Hall and Hall Auctions. "It's beautiful and quiet, and you can jump in a car and 40 minutes later be flying out of Dulles International Airport."
Before the auction, Stephen Carpenter-Israel toured and analyzed the condition of the manor home and various structures on the property with his clients. They spent additional time working with a residential building contractor, BOWA, at the farm to discuss the structural condition of the many buildings, potential projects, and projected costs. Using the App LandGlide, Stephen reviewed the property lines. Steve also shared his personal experience with the great joys as well as the potential pitfalls and stresses of owning a large, historic property when it’s not the owner's primary residence. Advising homebuyers and providing them with all the pertinent information is key to helping buyers make thoughtful, informed decisions about whether they have the bandwidth to take on this unique type of property.
Hall and Hall - Historic Clifton Farm with Views of the Blue RidGe Mountains
Steve researched comparable sales of other properties in the area and provided his best recommendation for the market price of this unique property. Once Carpenter-Israel's clients decided to move forward and bid on Clifton Farm during the auction, they got together, and all agreed on the winning bidding strategy. The plan included the best way to secure the property while maintaining Steve's clients' privacy.
Auction day proved to be exciting for everyone that attended. Hall and Hall had set up white tents, music played, and they served light refreshments on this gorgeous bluebird afternoon. Please watch the video with Stephen Carpenter-Israel documenting this incredible day.
“On the day Clifton Farm was auctioned by Hall and Hall, I couldn’t video the live auction. But I checked in and finished the short video I had started earlier in the morning to document the memorable day.
Once the auction was about to start, about 75-80 people were in attendance. Of those 75+, approximately 12 and 13 were bidders on the property. My clients and I had a strategy about how we would proceed. First, with the cooperation of Hall and Hall, my clients would remain completely anonymous and I would bid for the buyers on their behalf.
The minimum bid started at 4 million and rose quickly to the mid-fives. We allowed the bidding to go on for a little without getting involved. When the bidding price went over $5,600,000, the original bidders started to drop out.
After the initial flurry of activity, I waited until there were apparently only one or possibly two bidders left before I joined the fray and started to make bids for my clients. Several folks there truly wanted to own Clifton Farm. Bids flew back and forth. A front-row couple who didn’t bid the entire time popped in with an enormous offer close to the end of the bidding process, believing this was their best strategy. This surprising turn of events added to the day’s overall excitement and dynamics. However, our game plan worked. I am extremely happy for my clients that we did prevail and end up winning the auction and buying this beautiful historic home and extraordinary piece of ground for just under 7 1/2 million.”
