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Auction Craze Continues, Heads to North Hollywood

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Now the homes awaiting auction are hitting the Multiple Listing Service (MLS), mingled in with all the regular homes and these auction listings are even using words like "acclaimed." Via the listing: "New Home Auction!! New construction...The creative landscaping, designed by acclaimed Ben Lundgren, is maintained with an automatic sprinkler system." Excellent. This is a 2,500 square foot three-bedroom, four-bath home that's located at 5925 Irvine Avenue. It's asking $250,000 and according to Kennedy-Wilson's web site, there's an "auction" for this development, called Oxnard Garden, on August 30th. There are 12 homes available (either on Irvine Avenue or Oxnard Street). According the Kennedy-Wilson's site, the townhome that was listed at $725,000 now has a starting bid of $195,000. But do read the fine print.
· 11628 Oxnard Street [Kennedy Wilson]