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ACCELERATED MARKETING PARTNERS SELLS 44 HOMES IN SINGLE DAY OF SUCCESSFUL REAL ESTATE AUCTIONS


- Cummings Park and City Walk Auctions Accelerate Sale of Standing Inventory-

San Francisco, Calif. (July 17, 2008) – Accelerated Marketing Partners (AMP) conducted two successful real estate auctions June 29, selling 44 homes at the Bay Area’s Cummings Park and City Walk developments in less than three hours. While the real estate auction for Cummings Park, located in East Palo Alto, sold all the remaining homes in the development, interested buyers still have the opportunity to purchase one of the few homes at City Walk available in San Leandro, which will now be sold at the extremely competitive price points established on auction day.

In the current buyer’s market, aggressive strategies like real estate auctions are resulting in successful sales for developers and home builders. Accelerated Marketing Partners drove unprecedented traffic to both developments in less than four weeks prior to the auction. The Cummings Park sales team conducted over 1,300 site tours during the period following the auction announcement on June 5, and the City Walk sales team conducted over 800 site tours in the period following the June 5 auction announcement, proving that there is still a demand for property in the Bay Area.

“The extraordinary sales signal that real estate auctions are the logical and successful choice for developers and home builders in the area,” said Ken Stevens, co-founder and west coast CEO of Accelerated Marketing Partners. “Our ability to conduct two successful auctions simultaneously speaks to the growing demand for beautiful homes at market-driven prices, as well as the local buyer’s expanding interest and understanding of the auction process.”


The Cummings Park real estate auction took place at 1:00 p.m. and sold 23 homes, with an average sales price of $390,000. Cummings Park homes feature expansive windows and hardwood floors in elegant living spaces, as well as designer carpeting on the second level and recessed lighting throughout. Gourmet kitchens boast European-style cabinets, granite countertops and backsplashes, and GE stainless steel appliances. Master suites offer marble-tile baths with cast-iron soaking tubs. Amenities include high-speed Internet, digital security systems, General Electric stackable washers/dryers, and private underground parking.


The City Walk real estate auction took place at 6:00 p.m. and sold 21 homes, with an average sales price of $242,000. Homes feature hardwood floors and light-infused living spaces, many with high ceilings and spacious private balconies offering stunning hill and city views. Gourmet kitchens feature top-of-the-line stainless steel appliances and granite countertops. Amenities include storage and a fully equipped fitness center.

For more information on Cummings Park and City Walk, please call 925-362-1442.