Real Estate Disposition Corporation Auctions 25 Brand New Studio City Condominiums Totaling Over $10 Million in REDC's 25th Builder Liquidation Auction of 2008 IRVINE, Calif., Aug. 27
IRVINE, Calif., Aug. 27 /PRNewswire/ -- Real Estate Disposition
Corporation (REDC), the nation's largest real estate auction firm, auctioned
over $10 million of real estate this past Sunday, August 24th, in what was one
of the Los Angeles area's first builder auctions of new properties since the
1990s.
(Photo: http://www.newscom.com/cgi-bin/prnh/20080827/LAW035)
The auction event sold 21 two and three bedroom condominium properties in
less than 90 minutes to a packed house of prospective buyers at the historic
Sheraton Universal Hotel in Universal City, CA.
"REDC continues to prove that, with the right pricing and sales platform,
there are a multitude of interested buyers in today's market," says Keith
McLane, President of REDC's builder division. "Through the use of our
proprietary auction marketing strategy and large customer database, we are
consistently able to match buyers with builders."
REDC's real estate auction program attracted over 2,000 open house
visitors and over 540 bidders to the auction event. Bidders were able to view
and inspect the homes during a 30 day open house period and REDC helped
facilitate the approval of FHA financing for the entire condominium project.
Winning bidders taking advantage of the FHA financing option could purchase
with as little as 3% down.
REDC's Builder Division works with builders and developers around the
country to provide auction marketing services and help sell and close
remaining inventory in today's stagnant real estate market. Over the course of
the past year, REDC's Builder Division has auctioned nearly $250 million of
real estate for builders in California, Nevada, Arizona, New Mexico,
Washington, Texas, Oregon and Florida.
ABOUT REAL ESTATE DISPOSITION CORPORATION
Real Estate Disposition Corporation (REDC) was established in 1990 and is
a leading Real Estate Auction Marketing firm in the distressed and foreclosed
real estate auction industry. REDC has established a dominant position by
selling over $3 Billion in Real Estate assets since May 2007. REDC and its
affiliates operate from their 60,000 square-foot national headquarters in
Irvine, California, with additional offices and over 350 full-time employees
throughout the United States.
CONTACT: Michael Jansta
PHONE : (949) 699-3249
EMAIL: michaelj@landstaff.com
SOURCE Real Estate Disposition Corporation
