National study finds 264% rise in auctions.National study finds 264% rise in auctions For the second consecutive year, a record number of properties were sold by auction, indicating the growing popularity of auctions as the marketing method of choice for home builders, multi-family residential Multi-family residential is a classification of housing where multiple separate housing units are contained within one building. The most common form is an apartment building. Many intentional communities incorporate multi-family residences, such as in cohousing projects. developers, the commercial real estate community and financial institutions. These findings were reported by the second annual National Real Estate Auction Index compiled by Kennedy-Wilson, Inc., the nation's leading real estate auction-marketing firm at the 50th Annual National Association of Home Builders The National Association of Home Builders (NAHB) is one of the largest trade associations in the United States. Headquartered in Washington, DC, the association organizes one of the largest conventions in North America, The International Builders' Show, which draws more than Conference in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Nevada. The National Real Estate Auction Index tracks auction marketing programs conducted throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. by Kennedy-Wilson. The firm's clients include the Resolution Trust Company, a number of the nation's largest developers and financial institutions, syndicators, and large industrial corporations. Nationwide, the Index revealed, real estate auctions increased 264 percent in 1991. Sales posted in 1991 totaled a record $761.6 million, up from $398.5 million in 1990. "Auction-marketing continues to sweep the nation," said Kennedy-Wilson Chairman Bill McMorrow. "The 4,511 units sold in 1991 versus the 1,811 units sold in 1990 indicate that auctions maximize investment return and are preferred over expensive marketing campaigns which yield minimal results over a long period of time," he added. California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). led the nation in auction activity with 63.4 percent of total auctions conducted. The Los Angeles/Ventura region accounted for 40 percent of the state total, followed by Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern with 27.3 percent. "Kennedy-Wilson launched its Northern California operations in the last quarter of 1990, and posted an impressive $131.6 million in sales in only three months. The Stockton/Modesto area is especially strong with single family developers turning to auction-marketing to launch new housing tracts," McMorrow said. The Northeast posted the largest growth in auction activity. Kennedy-Wilson conducted 21 auctions, selling 544 properties in the Northeast corridor This article is about a rail line. For the agglomeration of metropolitan areas, see BosWash. For the New Jersey Transit line, see Northeast Corridor Line. The Northeast Corridor (NEC in 1991, a 340 percent increase in sales over 1990. Condominiums/Townhomes returned to the top of the product type list with total sales of $271.9 million, followed by single-family homes with $262.7 million, and commercial/income property with $170.4 million. Information compiled for the National Real Estate Auction Index includes a geographic and sales analysis of 4,511 properties and various statistical data such as total auction day sales, percent of sales closed at auction, percent of units sold to offered, total sales at auction, and average sales price as a percent of minimum bid. In the past three years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time firm has sold more than 7,748 properties for a total sales volume of $1.3 billion. |
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