43 golf and lakefront homes hit the auction block in Chowchilla

. March 15, 2008

CHOWCHILLA – On April 6, Beverly Hills-based real estate auction specialist Kennedy Wilson will be conducting an inventory closeout auction for nine luxury homes at The Cascades and 34 single family homes at The Villas in Chowchilla.

All 43 homes are in Greenhills Estates, a gated community with abundant lakes situated around Pheasant Run Golf Club. The homes were designed by architect Barry Berkus and his firm B3 Architects in Santa Barbara.

Minimum selling prices in The Cascades range from $260,000 to $470,000 for golf course and lakefront homes previously priced from $399,000 to $734,000. Featuring up to five bedrooms, these luxurious homes will be available to bidders at discounts up to 40 percent. The 34 single family homes at The Villas offer similar savings, with minimum selling prices in The Villas ranging from $160,000 to $290,000 for homes previously priced from $264,000 to $455,000.

Even the “previous pricing” is heavily discounted, making the savings buyers can realize come auction day even greater. An example is Lot 50 in The Cascades, a 3,000 square foot, former model home which was in escrow a year ago, priced at $549,000. Over the past year, the seller decreased the price by $100,000 and the home was most recently listed for $449,500. The upcoming auction on April 6 will include this 3,000 square foot home at a minimum bid of $300,000.

Auction day purchasers who close escrow within 30 calendar days of the auction with financing from National City Mortgage will be credited up to $5,000 (based on lender guidelines) towards closing costs. Successful buyers can select from a wide variety of financing programs offered by National City Mortgage. National City Mortgage representatives will be available at both Auction Information Offices before and after auction to answer questions and assist registered bidders with loan applications.

All home purchases will include a one-year golf membership at the Pheasant Run Golf Club, one of the longest championship courses in the state of California. This membership is valued at approximately $2,595.

Both The Cascades and The Villas offer residents exceptional quality of life in tranquil, friendly Chowchilla. The timeless beauty of Yosemite National Park is just 75 miles to the northeast while the scenic shores of Monterey Bay lie a mere 90 miles westward via State Route 152. In addition, a wide variety of shopping, entertainment and recreational options are conveniently accessible from nearby state Route 99.

Current residents will benefit from the auction, as an influx of new residents will complete these communities. .

Rhett Winchell, President of Kennedy Wilson’s Auction Group, is expecting turnout to be high at the auction, in line with the company’s long record of success in real estate auctions over the past several years. Says Winchell, “We’ll have the perfect combination homebuyers look for at this auction: low minimum bid prices, appealing incentives and some of the nicest homes I’ve had the pleasure of auctioning.” Winchell also pointed out that “membership at Pheasant Run Golf Club adds a unique touch to this auction.”

Registered bidders and potential homebuyers who plan on attending the April 6 auction are invited to a “How to Buy” seminar taking place on Sunday, March 30 at The Villas Auction Information Office. Rhett Winchell explains that Kennedy Wilson’s seminars allow bidders to learn about the auction process, auction terms and conditions, how to register and how to pre-qualify for financing. “At our ‘How to Buy’ seminars we conduct a live practice auction hosted by the actual auctioneer,” said Winchell. “It’s an ideal way for those new to the auction process to learn about – and try out – bidding strategies they can use to best effect on auction day.”

The auction will take place at the Pheasant Run Golf Club, 19 Clubhouse Drive in Chowchilla beginning at 1 p.m., April 6. By the time the mallet falls for the final time, dozens of homebuyers will have achieved truly incredible savings on homes previously priced well beyond their wildest dreams.

For more information, please visit The Cascades Auction Information Office at 8430 Lake Shore Drive in Chowchilla and The Villas Auction Information Office, 2930 San Michele in Chowchilla). Both Auction Information Offices are open 7 days a week from 10 a.m. to 6 p.m. Information on The Cascades and The Villas is also available online at www.GolfHomesAuction.com

Category: Auction News

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