A sign of the times for sure. Tough times aren't just for the little guys. The high end developers are struggling too, and here's a good example. But it's also a good example of not retreating during the downturn, but instead using a creative and realistic approach to marketing. I wish them well, and hope that they sell enough units to keep their project moving along, because it is truely a beautiful asset to the community.
COEUR D'ALENE, ID. - Excitement over Coeur d'Alene's first major condo auction is reaching its peak! Beverly Hills-based Kennedy Wilson gears up for a highly anticipated inventory closeout auction of 36 prime condominium residences at the Village at Riverstone. The auction scheduled for June 14 is expected to bring realtors, investors and potential homebuyers from far and wide to CoeurD'Alene, a delightfully trendy town that boasts fresh mountain air, glorious scenic vistas and quality of life most of us can only imagine.
Minimum Selling Prices begin at an incredibly low $180,000 to $490,000 on brand new, quality built condominiums previously priced from $329,000 to $899,900. The potential savings bidders can realize are exceptional to say the least! Best of all, Kennedy Wilson's proven & popular auction concept gives registered bidders a golden opportunity to land their dream home at a price lower then anyone could expect only one year ago. All homes will be offered with published reserve prices and without any buyer's premium. There are also no hidden reserves.
The June 14 inventory closeout auction at the Village at Riverstone is the first large condominium auction in Coeur D'Alene. The prospect of purchasing designer condos here at reduced pricing has sparked a wave of interest from across the Pacific Northwest and further afield. Rhett Winchell, President of Kennedy Wilson's Auction Group, isn't surprised by the many calls already coming in regarding the Village at Riverstone. "Coeur D'Alene is a recreational paradise attracting skiers, golfers, hikers, anyone who loves nature," says Winchell. "The area represents a new frontier for homebuyers put off by high prices on the west coast - Coeur D'Alene is just 31 miles from Spokane via I-90." Winchell also pointed out that the Village at Riverstone features a people-friendly European Village design, saying "The Coeur D'Alene area is a nice place to visit and you WOULD want to live here!"
The Village at Riverstone is set within an area of truly spectacular natural beauty. Lake Coeur d'Alene is about a mile away, the Spokane River is within easy walking distance and the entire master-planned community has been constructed around a four acre park and six acre pond. At the same time, residents of the Village at Riverstone enjoy living in what many consider to be the "new downtown" of Coeur d'Alene. Shopping, entertainment and dining options are just steps from residents' doors and convenient highway access is a boon to commuters.
As for the condominiums themselves, these 1-, 2- and 3- bedroom luxury homes feature six different floor plans that range in size from approximately 792 square feet to 2,002 square feet. Every brand new, solidly constructed unit features 9 foot ceilings, granite counter tops, solid wood cabinetry and premium appliances. Residents also enjoy the safety and convenience of underground parking.
The Village at Riverstone offers successful bidders an enviable lifestyle at potentially huge savings but it doesn't stop there - the seller, Riverstone Center East LLC, has arranged with Met Life Home Mortgage to offer a wide range of excellent financing programs. Buyers who arrange financing from Met Life and who close escrow within thirty calendar days of the auction are eligible to receive a "Special Incentive": up to $3,000 credited by the seller toward non-recurring closing costs or to buy down interest rates at the close of escrow.
The Village at Riverstone has got a lot to offer eager home buyers who have been searching for the perfect combination of lifestyle and convenience at an affordable price. The inventory closeout auction on June 14 provides buyers with a stepping stone to savings and much, much more - it's a golden ticket to the good life in one of America's most scenic locations.
Kennedy Wilson's inventory closeout auction for 36 luxury condominiums at the Village at Riverstone begins at 1:00 pm on Sunday, June 14, 2009 at The Coeur D'Alene Resort, 115 South 2nd St.,Coeur D'Alene, ID 83814. Kennedy Wilson will be hosting a "How to Buy" informational seminar beginning at 12 Noon on Sunday, June 7 at the Village at Riverstone Auction Information Office. Registered bidders can familiarize themselves with the auction process, terms & conditions and registration procedures, closing with a live practice auction.
An auction web site has been set up for registered bidders who may be unable to attend in person but still want to bid online. To learn more about Kennedy Wilson's online auction access and the auction itself, please visit the Village at Riverstone Auction Information Office, open daily from 10AM to 5PM at 2362 Old Mill Loop, Coeur D'Alene, ID 83813. Further information is available via the auction website at www.riverstonecdaauction.com
Janna Rankin Scharf provides a superior level of real estate services to home buyers and sellers in Coeur d'Alene and Kootenai County, Idaho. Visit www.JannaScharf.com to search for homes in the Coeur d'Alene MLS for anywhere in spectacular North Idaho.
No matter how grand or modest your real estate dreams may be, you can turn to me in confidence. Give me a call today and let me know what I can do to be of service to you!
Janna Rankin Scharf, AB, GRI, CSP, CNS, CLHMS 208.651.9700 NorthIdahoJanna@gmail.com