Kennedy Wilson to auction 100 FDIC properties in Washington state
Kennedy Wilson is scheduled to auction 100 properties owned by the Federal Deposit Insurance Corp. later this month. Prescient Asset Management recruited Kennedy Wilson on behalf of the FDIC. On April 16, a variety of property types will be up for grabs in the Puget Sound region of Washington, including new homes, partially completed homes, partially developed lots and vacant land. All FDIC properties will be available through live bidding or online bidding if the potential bidder cannot make it in person, the auction house said. There are no starting bid prices and all sales are absolute, according to Kennedy Wilson. Washington experienced one of the largest drops in home sale prices between December 2010 and January 2011, down 8% to 10% according to research firm RadarLogic. Altos Research recently reported that its 27-city composite home price index declined nearly 2% in February. The Seattle-Tacoma-Bellevue metropolitan area is part of that of the index. Click here for a list of sale properties. Write to Christine Ricciardi. Follow her on Twitter @HWnewbieCR.