Web Auction Clicks With 18 Buyers of Single-Family Homes

Eighteen new single-family homes were sold in 19 seconds in a recent Internet auction conducted by Kaufman and Broad, company officials said.

Jay Moss, regional general manager of Kaufman and Broad’s Greater Los Angeles Division, said the technology used in the auction “allows the company to sell at a fair price through bidding, while giving bidders an opportunity to own the home they want at an affordable price.”

All homes in the Oct. 29 Internet auction were visible at one time and could be bid on simultaneously, he said. Top bids were displayed on the computer screen.

Those who were unable to bid successfully on their desired homes were able to begin bidding immediately on any other homes that suited their needs, according to Moss.

The homes in the auction represented 11 Kaufman and Broad communities located in Riverside, San Bernardino and Los Angeles counties.

Prices ranged from the mid-$90,000s to the mid-$300,000s for two- to six- bedroom floor plans with two to three baths.