Hundreds of Buyers Head to Palm Desert Condo Auction With Only Two Weeks Until Bid Deadline

    Luxury Condo Auction Defies Downward Housing Trend with Unprecedented
Interest by Homebuyers

    NEWPORT BEACH, Calif., Feb. 19 /CNW/ -- The prospect of buying a home by
auction for a fraction of its previously selling price, in this instance over
$600,000, is demanding unparalleled attention. As the builder closeout auction
of the last remaining units at Brava, a Palm Desert gated community quickly
draws to a close; excited buyers scramble to visit the properties, secure
financing and develop their strategy to ensure a successful bid.


    "I've thought about buying a second home in the desert area for a while
and when I read about this auction, I figured it was a sign that the right
time to buy had finally come," notes potential bidder Brad Butler of Orange
County, California.

    Since its mid-December launch by the LFC Group of Companies, a leading
online real estate auction firm, the Brava condo auction on the Freedom Realty
Exchange(R) website has steadily seen over 200 people a week
visiting the community.

    "Apparently we didn't need the new stimulus plan to get buyers. They
smelled a good deal," states Kelly Lovegrove, Director of Operations for LFC.

    This magnitude of the response is amazing in good economic times, but is
nearly unheard of in this current housing climate. Vincent Barbato, one of the
Principals of Brava's home builder, Family Development, notes with amazement:
"Even back when we first put Brava on the market we didn't see this kind of a
turnout. Having hundreds of people each week is an incredible feat, something
that's really creating a buzz. People just can't believe that at a time like
this we are getting so many interested visitors."

    Brava is a luxury gated community featuring unique architectural design,
inspired by the charming, rustic villages of Tuscany. With an ideal location
at the prominent crossroads of Country Club Drive and Monterey Ave., Brava
lives up to the area's impressive standards by offering numerous amenities,
all of which encourage a healthy, active life for residents. Two pools, a
clubhouse, a fitness center, "Toscana" paver streets, and immaculate
landscaping all afford residents the opportunity to live a truly Southern
California, country club lifestyle without the exorbitant association costs
that most Palm Desert communities demand.

    The 17 condominiums ranging in size from +/-1,865 to +/-2,200 square
feet, feature gourmet kitchens equipped with stainless steel appliances, a
cooking island, and full pantry, spacious living areas, and 2-3 bedrooms.

    Situated in the center of the Coachella Valley, Brava is close to
countless golf courses and resorts, as well as impressive mountains and lakes,
local restaurants, shopping centers, and cultural centers.

    The bid deadline for this auction is March 5, 2009. Online bidding has
already begun on the former model and over the next two weeks serious buyers
will step forward to place their bid to purchase a condo at a price they
determine. Interested buyers are strongly encouraged to register on the
website, review all property documents and disclosures, visit the
properties and secure financing. Properties are open for viewing 7 days a
week. Broker participation is welcome.

    Freedom Realty Exchange - member of the LFC Group of Companies
    For more than 30 years, the LFC Group of Companies has served numerous
Fortune 500 companies, real estate developers, investors, financial
institutions and government agencies by auction-marketing thousands of
commercial, industrial, land and residential properties with an aggregate
value well in excess of $5 billion.


    Media Contacts:     Kelly Lovegrove


For further information:

For further information: Kelly Lovegrove of LFC Communications, Inc.,
+1-949-706-6113, Web Site:

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