About a month ago I wrote about Monk’s Island a beautiful turn key island in North Carolina that was to be auctioned off (see post here).

I was recently contacted by Iron Horse Auction, the firm handling the sale of the island.

They informed me that the island did not reach the reserve bid price.  In addition, I learned that the owners are quite motivated to sell reducing the price of the island to just $2,495,000. Although this may seem like a lot of money the island was once on the market for $6.5 million and as recently as August 2007 had a assessed tax value of over $5 million dollars.

This is an excellent opportunity to get a great island at an even better price. For more information visit Iron Horse Auction.