Sells 16 Phoenix Area New Homes for Lennar


LITCHFIELD PARK, Ariz., Jan. 7 /PRNewswire/ —, the nation’s leader in online home auctions, has announced the sale of 16 new Lennar homes in the Phoenix, Ariz., area. Competitive bidding on 17 Lennar-built new homes in the community of Laureates at Savannah in Litchfield Park, Ariz., took place during a two-week online event in late 2007. Sixteen of the 17 properties were purchased and have already closed as a result of's online auction event for Lennar.

“This is our second successful auction event with Lennar Homes (In May 2007, Lennar Homes of California successfully auctioned numerous new homes in Indio and Rancho Mirage, Calif., through, indicating a potential trend in the new home industry. offers a new option for builders looking to disperse their standing inventory of homes,” CEO/President Tony Isbell said. “During this most recent auction event, we received more than 1,000 bids on the Laureates at Savannah homes, and hundreds of people toured the properties. We had online visitors from all 50 states and 12 foreign countries and bidders from around the country. I believe this auction event shows us that there's still demand for homes at reasonable prices.”

The Laureates at Savannah homes sold during the auction event sold at a 15-20 percent discount off the properties' list prices of $524,990 to $648,990.

Isbell continued, “The online bidding concept — people being able to name their own price — is extremely appealing to potential buyers, and in this case was a catalyst for moving houses in a stationary market. We expect more and more builders to look to to focus attention on their standing inventory of new homes in 2008. To be able to move 16 of 17 properties in a matter of a couple of weeks, as we did in the Phoenix area, is certainly attractive to many builders and developers at this point in time.

“With the growing acceptance of technology as a part of our everyday life and as more real estate sellers look for effective tools to market properties, competitive online real estate bidding just makes sense. And, with almost 420,000 unique visits to our site during November, we know that online real estate bidding on is being embraced by more and more real estate buyers and investors every day.”

Founded in 2001, specializes in the expedited sale of real estate through its innovative online auction platform. The company has become one of the most vocal advocates for the use of Internet technology as a means of bringing real estate buyers and sellers together.'s team has sold more than 12,000 properties.


© 2007 PR Newswire. All Rights Reserved.


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