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CENTURY CITY, CA-Buyers acquired 11 properties, most of them bank-owned, at a Sperry Van Ness/Guardian and MarketMaker West Coast auction here recently. are bank-owned, with another auction to follow. Tom Brenneke, president of Guardian Real Estate Services, says that the company already has been approached by its banking clients with approval to sell additional properties at an upcoming Northwest Auction.

“Our goal for this auction was to clear our client’s REO inventory and we achieved that,” Brenneke says. The California properties that sold included 115 finished lots in Victorville, a 20-acre single-family lot development site in Rancho Cucamonga and a three-story partially built condominium project in Sacramento.

The other eight properties included three in Washington State and two in Idaho. The Washington properties were a 67-acre site of single-family lots in Granite Falls, 65 finished lots on 11.4 acres in Everett and nine single-family lots in Renton. The Idaho properties included 3.25 acres of land in Boise and a 48-unit multifamily project in Donnelly.

The Northwest Auction is scheduled for Sept. 30 and will feature 20 to 30 individual commercial properties located in Oregon, Washington and Idaho that are FDIC, REO or bank short sales. Brenneke says that all listings are being vetted to ensure that they are priced to sell.

The Sperry Van Ness/Guardian auction platform is one of a number that are being developed in response to the growing list of distressed assets for sale. The platforms include both conventional and online tools for moving properties.

Those who are auctioning the properties are also employing both traditional media and online approaches for marketing them. Sperry Van Ness/Guardian, for example, is launching what it calls “an aggressive regional marketing campaign encompassing multiple digital and print mediums to reach all potential buyers” for the Northwest Auction.

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