Popularity of Auctions Continues

BEVERLY HILLS, Calif – Kennedy Wilson Auction Group, a division of the national real estate services and investment firm Kennedy Wilson, conducted an auction on March 9, 2008 of single family homes, condominiums and town homes located in various communities of Southern Florida.

About 97 bank-owned homes located in Palm Beach, Broward and Miami-Dade counties were put on the auction block at 11 a.m. Sunday at the Harbor Beach Marriott Resort and Spa in Fort Lauderdale. The lender owned properties were scattered throughout various towns and cities in Southern Florida. Starting bids ranged from $25,000 to $625,000. The bidding was very active on all properties with approximately 1,000 people in attendance.

This auction represented an exceptional opportunity for individuals and investors to purchase a residential property. Purchasers took advantage of the availability of excellent financing programs.

“Banks are uniquely motivated to sell their REO since they aren’t a typical property owner,” said Rhett Winchell, president of the Kennedy Wilson Auction Group. “Interest rates are still low and by taking advantage of Kennedy Wilson’s accelerated marketing program, they are able to sell properties to qualified buyers readily in this changing market”, continued 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 home throughout the United States, Europe and Asia. It conducts live auctions for all types of residential properties. Click http://www.kwiauctions.com/ or http://www.kennedywilson.com/ for further information.

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