Kennedy Wilson Auction Group, a division of the national real estate services and investment firm Kennedy Wilson, conducted an auction of 14 luxury residences located in lovely Escondido, a thriving urban environment, just 30 miles northeast of San Diego. The elegant 1 and 2-story, four and five-bedroom residences ranging from 2,900 to 4,049 square feet feature formal entry foyers, spacious family and living and dining rooms. Published reserves for these 14 properties ranged from $385,000 to $550,000 for houses that were previously priced from $825,000 to 1,199,000.

Potential bidders took advantage of this great luxury estate homes buying opportunity, which was held at the Marriott Del Mar Hotel in San Diego. Over 100 bidders attended the sale.

We are known for our published reserve auctions,” says Rhett Winchell, President of Kennedy Wilson Auction Group. “It creates a lot of interest because buyers know that the homes will sell at or above the reserve prices. Everyone is focused on these properties because everyone wants a deal. The seller was very pleased with the auction results, selling his entire inventory in one day. The rapid sale of the homes is a clear indication of the great demand for quality housing options in San Diego area, and also of the interest auctions are continuing to generate in today’s market,” continued Winchell.

Auction info www.kennedywilson.com

Posted: 11|20|08 at 10:36 am. Filed under: US News.