Public Home Auction - 24 new detached homes in California to auction May 10th

PRLog (Press Release) – Apr 28, 2008 – DoveBid, Inc. and CataList Homes announce a builder close-out public auction event.  Twenty four new detached homes in the Gardena Village gated community will be auctioned to the highest bidder on May 10th at the Torrance Marriott hotel.  Gardena Village is located in the City of Gardena California and was just recently built by the Cal Coast Company.  The homes come in three and four bedroom plans with living space between 1,850 and 2,090 square foot.  High-end finishes such as granite countertops and kitchen islands are amoung the generous feature list.  A list of homes and photos can be viewed by visiting the auction website at http://www.catalisthomes.com/auctionInventory.aspx?aid=1005

The sales office is open Thursday through Monday from 11am to 5pm with all homes open for inspection.  The bidding will start at just $498,000 and units were just listed to $739,000.  FHA finanicng will be offered by the auction lending team of IndyMac Bank and approved buyers can put as little as three percent down.  

"The auction sales environment allows the buyers to set the pricing in a dynamic marketplace bidding event," says Michael Davin President of CataList Homes, the listing broker on the project.   "Many buyers are reluctant to buy new homes because of the fear future units will be sold at a discount.  The auction process gives buyers confidence and market transparancy to know that the standing inventory will be sold in one day with pricing set by the open marketplace."