Back to the Auction Block

Star Telegram
BY SANDRA BAKER

A 22,000-square-foot mansion in Arlington’s exclusive Estates on Rush Creek, auctioned in 2008 by federal authorities as part of an Internet drug case, is heading back to the auction block.  The owner, a Houston-based partnership called HS Panorama, has hired online auction company Bid4assets.com to sell the house on 2.6 acres Oct. 5-7.

It’s the same auctioneer that sold the property for the U.S. Marshals Service, which seized the unfinished, but still opulent, four-story home. Among its amenities are heated marble floors throughout, an indoor pool and dance studio, seven bedrooms, eight full bathrooms, four half baths and a three-panel mural in the master bedroom painted by an Italian artist.

HS Panorama paid $1.189 million for the property at 2324 Panorama Court, which also required hundreds of thousands of dollars and eight months to complete. It was missing a large portion of its roof.  Bidding will start at $1.5 million. Bidders must plunk down a pre-bid deposit of $50,000. The successful winner will have to close the deal within 45 days.  The house was once appraised at more than $5 million, but the Tarrant Appraisal District now values it at $3.3 million.

Minimum Auction Bid: $1,500,000
Size: 22,093 Sq. Ft.
Bedrooms: 7
Bathrooms: 8 Full, 4 Half
Speciality Items: Exercise Room, Game Room, Home Theatre, Sauna, Steam Room, Heated Imported Marble Flooring, Geothermal Heating/Cooling, 5 Fireplaces, Heated Indoor Pool, 4 Vehicle Garage, 2.6 Acres, HOA Fee is $1,000 annually.
Address: 2324 Panorama Court, Arlington, Texas, United States, 76016

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