Space House For Sale, Again – Newschannel 9, WTVC-TV Chattanooga, Tennessee
December 12, 2008 – 9:18 AM
The well-known “Space House” on Signal Mountain is up for sale, again.
It will be sold at absolute auction Sunday December 14 at 2:00 pm at the house itself (1408 Palisades Road).
The unique home that has has been featured in the national media in the past, has changed owners many times over the years.
It was most recently sold at auction in March of this year. However Mike Machak, a spokesperson for Crye-Leike Realtors says the apparent buyer defaulted and was never able to take possession… so it is up for auction again.
Tony Young, an Auctioneer with the Crye-Leike Auction Team in Cleveland said, “This was probably one of only several hundred auctioned properties we’ve handled recently where the buyer failed to come up with the cash or financing to complete the purchase. It’s an oddity that it didn’t sell.”
The unnamed buyer, who placed the top bid by phone from Ohio, agreed to pay $135,000 for the Space House in March. By defaulting he forfeited a nonrefundable 10% down payment.
The next bidder did not meet the minimum bid at the auction.
However this time, Machak says there will be no minimum bid. Although the Space House is listed for $184,900, in the upcoming auction it will absolutely go to the highest bidder, no matter what the bid.
“This time it will sell with absolutely no minimum and no reserve,” said Young. “The owner knows the sale on December 14th at 2:00 pm will be final and it will bring whatever the public is willing to pay.”
The Crye-leike Auction Team doesn’t require verification of funds or a pre-approval letter up front at its auctions. For this Absolute Auction of the Signal Mountain Space House a 20% non-refundable deposit will be required on the day of sale and the balance will be due in 15 days. Auctioneer Young says the current owner wishes to remain unnamed.
“He’s a local investor who purchased the property in a traditional sale back in the fall of 2007,” said Young. “He owns the Space House free and clear and due to health issues he’s liquidating all his local property and holdings with plans to relocate to Florida.”
Built in 1970, the large white saucer shaped structure, built of steel and concrete, is suspended one full story off the ground on six large re-enforced cement pillars. It has nearly 2,000 square feet of living space, three bedrooms, two full bathrooms, kitchen, living room and large open bar/entertainment area. The foundation columns appear like landing gear, concealing the home’s utilities high atop a paved parking area underneath.
“This unique space ship house has been recognized throughout the United States and featured in many news publications and television programs,” said Eric Spencer an Auctioneer with the Crye-Leike Auction Team in Cleveland, Tennessee. “The home has a view of the Tennessee River as well as beautiful views from Signal Mountain, one of the region’s more upscale communities.”
Two additional properties will be sold at auction from the Space House include: 140 Hickory Street, Dunlap, TN 37327 and 815 Chickamauga Avenue, Rossville, GA 30741.