Newport Beach, CA (PRWEB) October 25, 2006
As the court appointed Successor Trustee of a Trust established by a deceased Orange County, California resident, the Orange County Public Guardian has decided to sell five acres of residential land located in North Las Vegas. The land originally purchased over 50 years ago for a few hundred dollars from the United Stated Department of Interior Bureau of Land Management, now has an estimated value of $1,500,000. As Successor Trustee, the Orange County Public Guardian has elected to auction the land contracting LFC Marketing Group, Inc., to conduct an online auction sale.
"We knew of LFC's reputation as a premier real estate auction specialist because of their success auctioning property for the County of Orange bankruptcy about 10 years ago," states Mark Johnson, Property Services Manager for the Orange County Public Guardian. "Having been appointed Successor Trustee for the estate's Trust and authorized to sell the property, we felt that an auction would deliver the desired results -- a quick sale at a fair price," continues Johnson.
"With five acres of prime residential land in a rapidly growing area of Las Vegas, the very nature of this auction, that being a low minimum bid and a pending deadline, will strongly motivate developers who want to build a small residential community, or an individual hoping to build their dream home, to step up and bid," says Bill Lange, Principal of LFC Marketing Group, Inc., a member of the LFC Group of Companies.
The land is located on the corner of W. Ann Rd. and N. Grand Canyon Dr. in Centennial Hills, North Las Vegas. It is zoned for residential development and is conveniently located just miles from I-95 and CR-215, in an area that is booming with residential, retail and commercial expansion. The auction terms and conditions include a very low minimum bid of $500,000 and a bid deadline of December 7, 2006.
In accordance with the instructions of the deceased landowner's Trust, proceeds from the property auction will be given to the ALS Association, the only not-for-profit voluntary health agency dedicated solely to the fight against ALS, commonly known as Lou Gehrig's disease.
For more information about the property and auction details, visit http://www.lfc.com/668R1
LFC Group of Companies For over 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 $3 billion.
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