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Kennedy Wilson Conducts a Highly Successful Auction in Castro Valley, California.

What a Difference a Day Makes

BEVERLY HILLS, Calif. -- Kennedy Wilson Auction Group, a division of the national real estate services and investment firm Kennedy Wilson, conducted a highly successful auction on October 25, 2009 of new luxury condominiums at Forest Circle, in Castro Valley, California. This highly anticipated one day auction was a complete sell out of all the remaining homes.

"I am thrilled about the results of this auction," said Rhett Winchell, president of the Auction Group. "This one day sale says a lot about our Company's success. We took a project that had very little activity and turned it around in one day," continued Winchell.

Over 400 enthusiastic bidders filled the large ballroom at The Freemont Marriott anxious to bid on one of the two- or three-bedroom condos ranging in size from 1,250 to 1,610 +/- square feet of living space with bright, open designs, spacious balconies, and great rooms providing a welcoming home. The bidding started as low as $185,000 on these new condos which were previously priced up to $522,500 and in less than two-hours, there were 31 homes sold totaling more than $11.5 million.

"Things have been slowing for three years. Once again, our pro-active marketing and sales approach is a proven way of selling real estate in today's market and changing economic conditions. This auction benefited both the buyers and the seller. It is a win-win situation," said Winchell.

Founded in 1977, Kennedy Wilson is a real estate services and investment firm headquartered in Beverly Hills, CA, with 20 offices throughout the U.S. and Japan. It seeks opportunities in partnership with clients in pursuit of above-market investor returns and higher real estate values. Kennedy Wilson Auction Group has been a leading force in the auction industry since 1977. Since inception, the Kennedy Wilson Auction Group has conducted many successful auctions of condominiums and single-family homes throughout the United States, Europe and Asia. It conducts ballroom style, site-to-site, and on-line auctions for all types of real estate. Go to BidKW.com or www.kennedywilson.com for more information about upcoming auctions in Texas, Nevada, and California.
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Publication:Business Wire
Geographic Code:1U9CA
Date:Oct 26, 2009
Words:357
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