AUCTION ARTICLES

02.28.09
Velocity Marketing Services Announces the Metro Area’s Largest Condominium Real Estate Auction.

Rockville, MD (February 8, 2009) - Velocity Marketing Services will conduct one of the Metro Area’s largest condominium auctions when it auctions over 40 one, two and three bedroom residences for Elad National’s The Fitz at Rockville Town Center on Saturday, February 28th at 1:00 pm at the Bethesda Marriott located at Pooks Hill in Bethesda, Maryland.

Minimum selling prices for the 40 one, two, and three bedroom homes will start at only $159,000 which is over $100,000 below the last selling price. The Fitz at Rockville’s Auction Information Center is open Friday through Monday from noon to four and Thursday 3:00 to 7:00 pm. Located on 501 Hungerford Drive, viewing is available now through February 27th.

All auction bidders must be pre-registered. The one bedroom homes to be sold at auction range in size from approximately 682 sq. ft. to 790 sq. ft and minimum selling prices start from $159,000. These homes had previous asking prices up to $282,000. The two bedroom homes are from approximately 1100 sq. ft with minimum selling prices starting at $219,000. These homes had previous asking prices up to $369,000. The two bedroom plus loft homes are approximately 1250 sq. ft. with minimum selling prices starting from $229,000. These homes had previous asking prices up to $395,000. The 1300 sq. ft. 3 bedroom homes have a minimum bid price of $239,000 and a previous selling price of $435,000.

“This is a terrific, one time opportunity for homebuyers within the metro DC area,” said Sue Hawkes, President of Velocity Marketing Services. “In this challenging market, it is difficult for buyers to feel comfortable with the determination of good value. An auction sets the ultimate good value and these buyers will have that opportunity.”

The Fitz at Rockville is strategically located on DC Metro’s “Red Line”, adjacent to Rockville Center’s newly developed plaza, with shops, restaurants and walkways, The Fitz is at the heart of a bustling new
community.

“The Fitz” provides a terrific value for consumers”, said Rami Rosen, Elad National’s Vice President of Marketing. “The extensive amenity package provides community opportunities, a resort-like pool, health and fitness center, cyber café, theater, and attached garage parking, all just minutes from the transit line.”

All the homes are complete with hardwood floors, granite counters, washers and dryers and General Electric? stainless appliances.

For more information, please call 301-315-8860 or visit www.TheFitzatRockville.com

Elad National Properties is a subsidiary of the El-Ad Group, a private company with a major presence in the real estate and hotel industries in the United States, Canada, Europe and Israel.

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