the shire

The Shire Faces Foreclosure

Around two years ago I first brought you the story of The Shire, a Hobbit-themed development in Bend, Oregon. But two years ago there was no real estate crisis and now The Shire is facing foreclosure. The Bend Bulletin reports that the notice of default was recorded last week in the Deschutes County Clerk's Office on the 31-lot development. The original developr Ron Meyers sold his share in the development to Dr. Lynn B. McDonald and his wife Jan. They had taken full ownership in May but Dr. McDonald died July 7 and Jan McDonald is trying to sell off the 14 developed lots before the public auction of the six-acre property on December 2. The default notice says the family owes Umpqua Bank $3.4 million on the project.

The project includes stonework, artificial thatched roofs, and a network of gardens and streams with a pathway leading to a central courtyard. It as gotten plenty of media attention but just one home has sold for $650,000 since the project broke ground in fall 2006. Another, the Butterfly Cottage shown above, is listed at $899,000. It overlooks an amphitheater and has modern touches including bamboo flooring, a Japanese soaking tub and granite countertops. There is also a "hobbit hole" in the backyard for storing garden supplies.

The project seems to have gotten plenty of people stopping by to look but not many people buying. It's unclear what will happen to the Tolkeinesque theme of the development when new investors take over.

[via Gawker]

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Tags: bend, foreclosure, oregon, the shire, TheShire

The Shire

by Deidre Woollard (RSS feed) —

Filed under: Estates

I've seen some odd development concepts before but The Shire may just top the list. Located in Bend, Oregon, The Shire is a development that has been designed to have the look of an 18th century village with thatched roof cottages and a bucolic setting. The cottages and village townhomes are all up to date on the inside but outside they have a look that can only be described as quaint. To keep up with the Tolkien theme there are "Hobbit Dwellings" embedded in the stone serpentine garden walls of The Shire which have round doors and are used to house the the machinery and grounds keeping tools to maintain the common areas of The Shire. The main village contains townhouses with nearby garages so that vehicles can be stored from view. Hobbit living doesn't come cheap, current prices range from $577,775 to $846,940.

[via Neil Gaiman]

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Tags: bend, oregon, Bend,Oregon, development, hobbit, real estate, the shire