Massachusetts Homes and Condominiums Auction

. November 20, 2008

Kennedy Wilson Auction Group, a division of the national real estate services and investment firm Kennedy Wilson, conducted a scattered auction of nearly 75 single family homes, condominiums and town homes located in various Massachusetts, New Hampshire and Rhode Island communities.

The auction started at 11 a.m., Sunday, November 16, 2008, at the Boston Marriott Burlington Hotel. Starting bids ranged from $25,000 to $200,000. Over 350 people attended the sale to bid on these bank owned homes. The bidding was very active on all properties, including bidding on the internet.

This auction represented an exceptional opportunity for individuals and investors to purchase a residential property. Purchasers recognized the auction advantage which allows them to buy quality homes at a fair price. “Banks are uniquely motivated to sell their REO since they aren’t a typical property owner,” said Marty Clouser, senior vice president of the Kennedy Wilson Auction Group. “Interest rates are still low and by taking advantage of Kennedy Wilson’s pro-active marketing program, they are able to sell available inventory more rapidly in today’s known market allowing buyers to set their own price. It’s a win-win situation,” continued Clouser.

Final sales prices exceeded the Seller’s expectations and the buyers realized discounts of up to 25% of previous listed prices.

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 home throughout the United States, Europe and Asia. It conducts live auctions for all types of residential properties.

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Category: Auction News

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