Close-out auction lets buyers name their price at City Place
Starting bids from $295,000 create an unprecedented opportunity for home shoppers to “name their price” during the close-out auction of 34 urban-styled townhomes and live/work lofts at City Place, located in the heart of Orange County, just west of the Westfield MainPlace Mall.
Opening the door to home ownership for renters, first-time buyers and business owners, the last of the new City Place residences will be sold simultaneously during this final, close-out auction conducted by Intellimarket™ on Sunday, March 27, 2011. Only registered bidders may participate and prequalification is required. A 2.5% broker co-operation is being extended to qualified agents who accompany their clients on their first visit.
Developed by Caltech professor Dr.
Charles Plott, the simultaneous auction process puts the bidders in control and eliminates concerns about missing out by not bidding on a certain property at a certain time. Large screen displays facilitate the viewing of the real-time, concurrent status of the bidding on all of the residences. There are no hidden minimums or reserve prices
and no post-auction, “back room” negotiations.
Excellent financing at today’s low rates makes buying during the City Place auction even more affordable. Low homeowners association dues and no Mello Roos assessments underscore the long-term savings buyers will enjoy.
Centrally located across from one of Orange County’s most prominent shopping malls, this award-winning urban enclave incorporates its own retail center with several restaurants and places for a quick snack, a market and various other conveniences.
“And, many of the live/work lofts have frontages facing out to this public space, which is a huge advantage for small business owners,” noted Colleen Lakshin, the City Place auction manager.
Providing for an exciting selection of home designs suited to differing lifestyles and needs, the City Place Auction presents both live/work residences at The Lofts and three-story townhomes at The Parks. All of the homes include two-car or tandem garages with direct home access and
automatic door openers, chef-friendly kitchens with stainless steel appliances, and space for washers and dryers.
Enabling homeowners to live where they work and work where they live, The Lofts designs feature first floor office or business space with street frontage in most locations and the added convenience of a full, first-floor bathroom. Second floor living and entertaining areas are augmented by third floor master suites and, in one home, by a second bedroom. These Lofts homes measure from approximately 1,595 to 1,825 in total square feet.
Encompassing from approximately 1,819 to 2,494 square feet, The Parks townhomes are available in four distinctive arrangements that offer two or three bedrooms and, in most homes, extra loft areas. For those who prefer casual entertaining and dining, some plans are keynoted by great room configurations, while others separate the living rooms on a different level from the dining areas and kitchens. Gas fireplaces and upstairs tech centers further distinguish the pluses to be appreciated.
Those interested in participating in the Close-Out Auction at City Place must pre-register and pre-qualify with a preferred lender. The simultaneous and continuous aspects of the Intellimarket™ system, along with the bidding procedures, will be explained during “How to Buy” seminars held several times every Saturday and Sunday up until auction day, March 27, 2011, on which there also will be a Practice Auction at 12:00 p.m., Noon, for all registered bidders.
To learn more about how home shoppers will be able to “name their price” during this upcoming, one-day auction event, the City Place Auction office is located at 306 Jeanette Lane in Santa Ana and is now open weekdays from 11 a.m. to 7 p.m. and on weekends from 10 a.m. to 6 p.m.
City Place is situated just off of Main Street, midway between the Garden Grove (22) and the Santa Ana (I-5) Freeways. From Main Street, proceed west on East Memory Lane, then run left on Lawson way and right on Jeanette Lane.
For further assistance, call 714.953.1353, or visit www.CityPlaceAuction.com.
