James’ house sells for $825K

HOLLIDAYSBURG - A local contractor has a new project on which to work.

Lou Ventura, owner of Ventura Construction Services Inc., Duncansville, and his wife, Lori, were the successful bidders Saturday for the home of Betty James, the co-founder of the company that created the famous Slinky toy.

Ventura submitted the high bid of $825,000 for the property, which includes an 8,000-plus square-foot home with six to eight bedrooms, 6 baths, five fireplaces, a pool, three-car garage and a 3.2-acre parcel.

Nine bidders had registered to bid on the real estate. Each had to present proof of an $80,000 down payment before he could bid, said Michael Roan, head of the real estate division for Roan Inc. Auctioneers & Appraisers, Cogan Station. Roan conducted the auction at 9 Brushmeade, just off Route 36 in Frankstown Township, north of Hollidaysburg.

The Venturas, who live in Scotch Valley, were pleased with their successful bid.

"We have a large family (five children) and wanted to be closer to town," Lou Ventura said. "The whole thing has not sunk in yet. We are very excited."

His wife also was happy.

"I am speechless, but I am very excited and happy," Lori Ventura said.

Bruce Erb of First National Trust Co., estate co-executor, said the estate was appraised at $850,000.

The winning bid "was within the range of that," Erb said. "It has been a good sale overall."

Roan said he was pleased with the outcome.

"I think it did real well. That is the true market value of today," he said. "It needs some upgrading, [and] that is what he [Ventura] will do. He is a contractor."

One of Betty James' sons, Christopher James of Downingtown, did not wish to comment on the sale price. He said it was a sad day.

"It is just giving up a lot of memories, passing them on," James said.

The numerous items for sale drew a crowd of about 600 people to the auction that started at 10 a.m.

Cynthia Jenkins of Hollidaysburg said she got a good consolation prize - a mink jacket for $90.

"I came out to see the house but a mink jacket is not a bad option, either," Jenkins said.

People came to the auction for various reasons.

"I am here just because this is American history, and my wife wanted to look at some things. She wants to look at the wicker furniture and some of the jewelry," said Fred Corbin of Hollidaysburg. "I just came because of the hype."

Julie Santos of Trout Run said her husband was drawn by the antique clocks because he enjoys repairing them.

Tammy Schilling, Altoona, who bought an original Slinky for her son Connor, 14, said it was an educational experience.

"My son had never been to an auction. What better one for him to experience than this one. This place is historical," Schilling said.

Among some of the larger items for sale were James' two Cadillacs. A 2007 DTS sedan with less than 5,000 miles sold for $32,000 and a 1999 Fleetwood, which was custom manufactured by Superior Coaches, went for $5,000.

A two-karat white gold solitaire ring sold for $6,000.

Mirror Staff Writer Walt Frank is at 946-7467.