Home Add to Favorite Contact Submit  
           22 May, 2022

Category:  Press » Real Estate


Oregon Home Builder Sells 141 Homes in Auction

         Views: 1801
2007-12-18 20:23:51     
Buena Vista Custom Homes

Buena Vista Custom Homes announced today that the company sold 141 homes during the past weekend's home auction at the Oregon Convention Center.

The 141 sales generated a total of $65 million dollars in sales which is believed to be the largest sales event in Oregon real estate history, as well as the largest real estate auction by a single seller. The event drew 2,209 attendees who bid on the 240 homes offered in the auction.

The owner of Buena Vista Custom Homes, Roger Pollock, announced prior to the auction his intent to use the event to sell the company's inventory of completed homes. Prior to the event there was much speculation about the "reserve prices" which are standard in a real state auction. Buena Vista set their reserve prices to mirror their costs. 96% of the homes sold were sold under the "reserve" price.

The auction was conducted by Real Estate Deposition Cooperation (REDC). REDC, based in Irvine, California has been in the auction business for over 20 years and has done hundreds of auctions. The Buena Vista auction of 240 homes was the largest auction that REDC had been involved with.

Homes offered at auction ranged from 1,113 to 5,073 square feet and were located in some of the areas of highest demand around the Portland metropolitan area. Additionally 29 homes were also included from the Bend, Oregon market. Homes sold from as low as $195,000 for a 3 bedroom 2 1/2 bath home in Sandy, Oregon to $510,000 for a 5,073 square foot 4 bedroom 3 bath home in the Shadow Ridge subdivision in Happy Valley, Oregon. Virtually all areas were strong sellers with two exceptions, the homes being offered in Bend (29) and Buena Vista's portfolio of rental homes. None of the homes in Bend sold and few of the rentals found buyers.

Pollock Pleased With Outcome

The company's move to enlist their entire standing inventory in the auction was an aggressive move, but reduction in inventory will allow Buena Vista to become a land buyer again, taking advantage of dropping prices for build-able lots.

"We came to the auction to sell, and we did just that. To sell 141 homes in less than 48 hours is truly remarkable," said Pollock. The company now plans to move to a much more conservative model of offering few finished homes built on speculation of future sale, and more pre-sold to buyers. "We will still be an aggressive player in our market. The sale of the homes from the auction puts us in a great position as a buyer. There are some great deals to be had out there right now on lots," added Pollock.

Event Nets over $250,000 for Oregon Charities

Buena Vista will also be donating over $250,000 from the event to area charities as part of Pollock's "Profit Partners" program. The program donates a portion of each home sold, regardless of price, to 19 area charities.

Earlier this year, Buena Vista announced the one millionth dollar donated to these charities since the inception of the program in 2002.

Profit Partners who will receive proceeds from the auction sales Include:

-- Big Brothers Big Sisters NW

-- CASA of Clackamas

-- Cascadia Behavioral Health

-- Come Rest Awhile

-- Community Action

-- Community Transitional School

-- DePaul Treatment Center

-- Faith in Action

-- Friends of the Children

-- Lifespan Respite

-- Oregon Partnership

-- Police Activities League

-- Project Pooch

-- Providence Child Center Foundation

-- Quiet Waters Outreach

-- Save a Teen

-- Son-Rise Program -- The Option Institute

-- St. Mary's Home for Boys

-- Transitional Youth

Buena Vista Often Recognized for Strong Sales and Growth

Recently, Buena Vista was named the No.1 single family homebuilder in Oregon and SW Washington by The Portland Business Journal. In addition, BVCH has been named as one of the top 10 fastest growing builders in the U.S. for the past three years. In 2005 the company recorded the fastest growth of any builder in the nation.

This past year, Inc. magazine also named the Oregon Home Builder to their prestigious list of the fastest growing companies in the US.

Pollock was initially cautious about what type of message an auction would send, but asked himself, "Did we overbuild?", and after answering "Yes" he quickly decided that it would be an innovative sales strategy to move out the overbuilt inventory.

The company has many projects on the horizon for the future. In early 2008 the company will embark upon new neighborhoods in Tigard, Oregon City, Southwest Portland and Happy Valley.

About Buena Vista Custom Homes: Buena Vista Custom Homes is an Oregon home builder dedicated to making the dream of purchasing an affordable home a reality. Buena Vista currently has developments in Bend, Beaverton, Happy Valley, Hillsboro, Oregon City, Portland, Sandy, Scappoose, and Tigard. Buena Vista was named the No. 1 single-family homebuilder in Oregon and SW Washington by The Portland Business Journal. Builder Magazine tabbed BVCH the fifth fastest growing builder in the nation for 2007. In 2005, 2006, and 2007, they received the Portland Metro Home Builder Association's "Building Excellence Award." To find out more, visit the company website at http://www.buenavistahomes.com.

Specialized in: Roger Pollock - Roger Pollock Portland - Find New Oregon Homes In Portland - Bend - Beaverton - Aloha - Hillsboro - Happy Valley - Sandy - And Scappoose
URL: http://www.buenavistahomes.com
Print press release      Bookmark this page
Related Press releases 
MeetMyAgent Comments as Co-Operative Bank Launches 10% Mortgage (Popularity: ): London, United Kingdom (26 November, 2012) – MeetMyAgent.co.uk, an independent estate agent review and rating website, comments after the Co-Operative Bank announced the launch of a two-year fixed rate mortgage for borrowers with a 10 per cent deposit, and charges under 4 per cent interest.The mortgage from the Co-operative Bank carries no set-up fee, and charges 3.99 per cent until 31st December 2014. This offer is now the UK’s official ...
Evergrande Continued to Rank No.1 Among the TOP 10 Mainland Real Estate Enterprises Listed in Hong Kong (Popularity: ): BEIJING, June 9, 2012 -- On June 9, "China Real Estate TOP 10 Research Group" released the Research Report on the 2012 Chinese TOP 10 Listed Real Estate Enterprises in Beijing, which was jointly released by the Enterprise Institute of Development Research Center of the State Council, the Real Estate Institute of Tsinghua University and the China Index Academy, one of the most authoritative research reports on the real estate ...
Royal Palms Offers Offices / Commercial Spaces at Affordable Rates Backed by 2-Year Spread-Over (Popularity: ): * Emphasis is on size i.e. No major builders are selling small units although there is huge demand for this segment. Offices of 500 sq ft size also on offer at an attractive price of Rs 29.9 lakh backed by a spread-over of 2 years.Mumbai, India, Tuesday - February 07th, 2012 -- Royal Palms Estates, Mumbai’s leading developer, has introduced an innovative real-estate option to enable buyers to get their ...
Spaze is offering commercial properties in Gurgaon (Popularity: ): 29th January, 2012, Gurgaon: Spaze Towers Pvt Ltd is providing commercial property like ‘Spaze Corporate Parkk’ in Gurgaon. The company deals in offering real estate property solutions for both residential and commercial.Marketing manager, Spaze, shares, “This is a fusion of work and retail together. Here, you get fun, work and food all together. Our concept lied in bringing comfort and work together so that the employees and people find it ...
Agree Realty Announces Sale of Former Borders Asset (Popularity: ): FARMINGTON HILLS, Mich., Dec. 12, 2011 -- Agree Realty Corporation (NYSE: ADC) today announced that it has sold a 24,641 square foot single-tenant property formerly leased to Borders, Inc. located in Norman, Oklahoma. The property was sold for approximately $1,600,000.Agree Realty is primarily engaged in the ownership, management, acquisition and development of single tenant properties leased to industry leading retail tenants. The Company currently owns and operates a portfolio of ...

Press release home snapshot 

Related Business 
Georgia Custom Home Builder (Popularity: ): Whitmire Homes is a Georgia custom home builder located in Gainesville, Georgia. Since 1978, we have been committed to helping homeowners realize their dream of a custom designed home while being the most hassle free builder in Georgia. When the housing market is down, only the strongest survive. Whitmire Homes has been serving the North Georgia area for over 30 years and this economic downturn will not stop us. Choose ...
Custom Home Builder (Popularity: ): Schumacher Homes is the leading on your lot custom home builder in the U.S. and builds new homes from 1100 to 8,000 sq. ft. As America's premier custom home builder, we have built more than 6,000 homes.
Houston Custom Home Builder (Popularity: ): Realex Homes, a division of Realex, Inc., was established for one purpose; providing home buyers a personal, responsive, affordable custom home builder. Founded in 1987 by Owner and General Contractor Nick Peters, Realex Homes has been helping Houston home buyers for over 20 years. We build homes priced from $300,000 to $2 million.
Home Builder Durango (Popularity: ): Hermosa Creek Homes is an independent dealer of Lindal Cedar Homes and premier home builder for the Durango, Colorado area. We have a design to fit your needs.
AJF Custom Homes (Popularity: ): AJF Custom Homes, an Arizona custom home builder located in the beautiful "Valley of the Sun". We at AJF believe that your custom home should truly reflect who you are and how you live your life. If you're a first time home buyer or upgrading to accomodate a changing lifestyle or growing family, look to AJF Custom Homes, a premier Arizona custom home builder.
Greater Fort Worth New Home Builder, McBee Homes (Popularity: ): McBee Homes is a new home builder specializing in new home construction and build on your lot custom homes in the Greater Fort Worth area of Texas.McBee started in Fort Worth in 1978 and has now grown to 3500 homes located in Denton, Hood, Parker and Tarrant counties. McBee Communities are found in: Benbrook, Fort Worth, Saginaw, Haslet, Lake Worth, Aledo, Hudson Oaks, Weatherford, Granbury, Ponder, and Lakeside.McBee Homes is ...
Delaware Home Builders (Popularity: ): Premier Developers is a home builder specializing in high end custom homes and remodeling.A full service custom home builder and remodeler from concept to completed product. Together they joined partnerships to offer a more in depth company enabling them to offer their expertise; whether it be new construction of homes, commercial or remodeling.
Pan Abode Cedar Homes (Popularity: ): Building packages are perfect for individuals desiring to control the cost of their custom home, or an owner/builder wishing to act as his own general contractor. The company sells homes worldwide through dealers or direct to consumers in non-dealer areas.
Pantera Custom Homes (Popularity: ): Floyd Decker, Owner and Operator, began his professional career building Texas custom homes. After growing up in the building industry in up-state New York. As a Plano home builder Floyd is focused on establishing Pantera Custom Homes as a premier builder of energy efficient, environmentally friendly, and technically advanced custom homes.
Southwest Homes (Popularity: ): Southwest Homes has been constructing quality custom homes in the Brazos Valley. If you are making the plan for purchasing your dream home. you will satisfied that your investment will continue to grow with time. We realize that building a new home or house is a major decision, and we appreciate your consideration of us as your home builder in College Station and the surround area.