AUCTION.COM’S SUCCESSFUL CLOSING OF LUXURY HOME GIVES ELDERLY NEWLYWEDS THE OPPORTUNITY TO TRAVEL EUROPE
CORONA DEL MAR, – May 24, 2013 – (RealEstateRama) — Auction.com (www.auction.com), the nation’s leading online real estate marketplace, announced Thursday the final sale of a luxury beach front estate in Corona del Mar.
The 93-year-old owner of the property – located at 3030 Breakers Drive – built and shared the home with his wife of many years until her passing some years ago. He now plans to marry his 84 year-old fiancée and enjoy a lengthy honeymoon in Europe.
The total purchase price, which resulted from a three-day auction that concluded April 18, was $5,302,500. The sale closed for that amount on May 16, less than 30 days after the auction.
“We believe in utilizing innovative methods to sell challenging properties,” said listing agent Michelle Brown of the Brown and Stowell Team of Corona del Mar. “By working together with Auction.com, we were able to reach a significantly larger pool of investors and achieve our client’s pricing and timing goals. Most importantly, the successful sale enables the owner to achieve a dream, and this is what makes our job so enjoyable.”
“This sale represents what many sellers find most attractive about the Auction.com platform,” said Auction.com senior vice president Jennifer Leuer. “By combining broad marketing tactics and a clearly defined sales window, properties receive maximum exposure during a condensed period of time. In this case, timing was very important to the seller and his fiancée.”
The multi-unit beachfront property features seven bedrooms, nine full bathrooms and three half bathrooms, four kitchens and an additional office loft. With several spacious outdoor decks, this property provides an ideal space for relaxing and entertaining. Given the location and investment potential as a single-family or multi-family home, Auction.com was able to market it to both residential and commercial buyers.
The auction was conducted using Auction.com’s innovative online platform that allows buyers to compete in a completely transparent process. In this case, that process meant a total purchase price that was $1.8 million higher than the opening bid of $3.5 million.
About Auction.com:
Auction.com is the nation’s leading online real estate marketplace and has sold more than $20 billion in assets since 2007. The company serves customers from the largest financial institutions and investors in real estate to the individual consumer and agent. Auction.com is headquartered in Irvine, California and has offices in Dallas, Miami, New York, Newport Beach, Silicon Valley, London, and Frankfurt. Visit Auction.com for more information.
About BROWN and STOWELL:
Michelle Brown and Eliisa Stowell and their three associate agents form an experienced and passionate real estate group that closed more transactions in 2012 than any other Corona del Mar agent. For more information, please call 949.903.0026.
