BEVERLY HILLS, Calif. , Sept. 30 /PRNewswire/ -- Kennedy Wilson Auction Group, a division of the national real estate services and investment firm Kennedy Wilson, conducted an auction of 30 luxury residences located in some of the most desirable areas of greater Phoenix : Gilbert , Buckeye , and Waddell . The elegant two to five bedroom residences ranging from 1,024 to 6,914 square feet feature quality craftsmanship and great designs. Published reserves for these 30 properties ranged from $90,000 to $375,000 for houses that were previously priced at $184,950 to $759,950 .

Potential bidders took advantage of this exceptional home-buying opportunity, which was held at the Hyatt Regency Resort and Spa at Gainey Ranch. Bidders arrived early and additional seats had to be provided to accommodate the large number of prospective bidders. There is a new normal in the market and the owner is using the Kennedy Wilson Auction Marketing Process to sell available inventory more rapidly in today's known market while buyers are setting their own price ... it's a win-win situation.

'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 inventory in ninety minutes. The rapid sale of the homes is a clear indication of the great demand for quality housing options in the Phoenix area, and also of the interest auctions are generating in today's market,' continued Winchell.

Founded in 1977, Kennedy Wilson is a real estate services and investment firm headquartered in Beverly Hills, CA , with 20 offices throughout the U.S. and Japan . It seeks opportunities in partnership with clients in pursuit of above-market investor returns and higher real estate values. Kennedy Wilson Auction Group has been a leading force in the auction industry since 1977. Since inception, the Kennedy Wilson Auction Group has conducted many successful auctions of condominiums and single-family home communities throughout the United States , Europe and Asia . It conducts live auctions and sealed-bid sales for all types of residential properties. Click http://www.kwiauctions.com; http://www.bidkw.com or http://www.kennedywilson.com for further information.

     CONTACT:  Kennedy Wilson
               9601 Wilshire Blvd., Suite 220
               Beverly Hills, CA 90210
               Tel 310.887.6400 Fax 310.887.3410
               Rhett Winchell

SOURCE Kennedy Wilson Auction Group