Christmas Rush Imminent As Auction Listings Double
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Christmas Rush Imminent As Auction Listings Double

More than 4000 properties are slated for auction this week.

By Terry Christodoulou
Thu, Nov 25, 2021 1:29pmGrey Clock < 1 min

The balance between home buyers and sellers is set to dramatically shift this week as a record number of homes go to auction across the country.

The number of homes set to go under the hammer has surged to 4354 this week as Sydney, Adelaide and Canberra posted their largest auction volumes ever, according to CoreLogic.

Auction listings have jumped by 17% nationwide over the week and have doubled the number recorded this time last year, as vendors want to get deals done before the Christmas break.

It’s also the first-time auction listings across the combined capitals will exceed 4000, overtaking the previous high of 3990 during the week ending March 25, 2018.

Melbourne is set to lead the charge with 1898 homes – a 14.5% rise over the week, more than double the number of auctions this time last year.

Sydney, Adelaide, and Canberra are set to host their highest auction volumes on record with 1656, 308 and 183 homes scheduled to go under the hammer.

Auction volumes bottomed out nationally in September and have climbed around 10% each week for a total increase of more than 200%.

The high number of properties for sale has dampened buying competition and has resulted in a falling clearance rate.

Since its peak of 83.2% in October, the clearance rate has dropped to 70.3% this week – similar to last year’s figures.

Across Sydney, the clearance rate for the week dropped to 68.7% — its lowest level this year.



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Judge Blocks Effort to Auction Graceland

Family of Elvis Presley was fighting the attempted sale, alleging fraud

By TALI ARBEL
Sun, May 26, 2024 2 min

A Tennessee judge on Wednesday blocked an allegedly fraudulent attempt to auction off Graceland, the former Memphis home of music legend Elvis Presley and a major tourist destination in the state.

Elvis’s granddaughter, actress Riley Keough , says a company that had planned a Thursday sale was fake and trying to defraud the trust that owns Graceland.

Judge JoeDae Jenkins in Chancery Court in Shelby County, Tenn., granted the injunction to stop the auction, according to a court clerk. The court had granted Keough a temporary restraining order on the sale last week.

The auction was initiated by an entity called Naussany Investments & Private Lending. It had filed a public notice for a foreclosure sale in Tennessee, alleging Lisa Marie Presley , Elvis’s only child, defaulted on a $3.8 million loan it made to her. The group said it now owns Graceland because Presley defaulted on the loan.

Presley, Keough’s mother, controlled the Graceland trust until her death in January 2023 . Keough then took over as trustee.

Lawyers for Keough said Naussany’s loan documents are forgeries, and the firm “appears to be a false entity created for the purpose of defrauding” the trust that owns Graceland, Presley’s heirs or any purchaser of Graceland.

Elvis Presley Enterprises, which manages Graceland, has also said Naussany’s claims were fraudulent. “There will be no foreclosure,” said Elvis Presley Enterprises spokeswoman Alicia Dean . “Graceland will continue to operate as it has for the past 42 years.”

Keough’s lawyer declined to comment.

Naussany Investments and Kurt Naussany, named in the complaint as acting on behalf of the entity, couldn’t be reached for comment. A phone number listed in the complaint didn’t work, and emails sent to associated addresses weren’t answered. The Wall Street Journal couldn’t separately find contact information for a Kurt Naussany. A lawyer for the entity couldn’t be identified.

The Graceland complex in Memphis, which includes an exhibition center and a 450-room hotel, attracts hundreds of thousands of visitors annually.

Elvis bought the property in 1957, when he was 22 and an ascendant star. He died in 1977 at the age of 42 and is buried on the Graceland property. Graceland opened to the public in 1982.

Lisa Marie Presley’s mother, Priscilla Presley , reached a settlement in 2023 with Keough over who would control the trust. The settlement came after Priscilla Presley challenged a 2016 amendment to the trust filed by Lisa Marie Presley that removed her mother as trustee.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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