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December, 2009

Starpointe Communities teams with Intellimarket to provide innovative, simultaneous auction on December 12, 2009

Starpointe Communities is introducing to the metropolitan Phoenix/ Scottsdale market a unique, simultaneous bidding process for 48 Artesia residences remaining in the first phase of its successful Artesia development. “We are continuing to meet today’s challenges with innovative, market-driven methods that allow buyers to take advantage of the current housing market. Intellimarket’s auction system will allow buyers to get the very best prices for a brand new, fully-featured, luxury residence in a premier Scottsdale location,” stated Rob Lyles, Starpointe Partner. “More importantly, this state-of-the-art auction system creates a transparent and open marketplace environment which puts the bidders, not the auctioneers in control,” added Lyles, noting that there are no hidden reserves or undisclosed minimums. The starting bids are clearly published and, throughout auction, the high bids on every residence are displayed for all participants to see and use in making their buying decisions.”Unlike conventional auctions where items are sold one after another in a high-pressure environment with the auctioneer controlling the pace of the bidding activity, the Intellimarket™ system utilizes proprietary software developed by Nobel Prize nominee and California Institute of Technology (Caltech) Professor Dr. Charles Plott. Large screen monitors positioned throughout the auction room facilitates this process. For those who cannot attend the auction in person, there are provisions for online bidding. All 48 Artesia residences, including 43 condominiums and five live/work brownstones, are to be offered concurrently. The auction clock resets when any new bid is received, thus providing participants with ample time to consider their next step. The auction ends when no bid has been submitted on any property for a specified period of time. Buyers interested in participating in the auction must first secure pre-qualification for a loan from one of Starpointe Communities’ preferred lenders, complete a registration form and make a “good fund” deposit. On auction day, they are issued a personal identification code to use during the bidding process. Early registration is advised, and bidders are encouraged to tour all of the residences in their price range and rank the ones they are most interested in purchasing. The simultaneous and continuous aspects of the Intellimarket™ system, along with the bidding procedures, are also being explained and demonstrated during “How to Buy” Seminars and practice sessions as scheduled several times prior to auction day. Included in the selection of condominiums offered at auction are six single-level floor plans presenting a choice of one or two bedrooms and ranging in size up to approximately 1,500 square feet. The five brownstones provide up to approximately 3,041 square feet and are keynoted by downstairs offices that can also serve as in-home studios or hobby rooms. Upstairs, the private living quarters incorporate three bedrooms. All of the Artesia residences are complete with a full array of appliances, including washers and dryers and are backed by a builder’s warranty. The gated community additionally features a quick-pass access system and a private, ten-acre park, along with a swimming pool and spa. Representing a savings of up to approximately $229,000, the minimum bids have been set at discounts of up to 38 percent off the last-offered prices. Excellent FHA and conventional financing make buying even easier. Artesia also qualifies for the Federal Tax Credit program, and 3% broker cooperation is being extended to qualified agents. Starpointe Communities has a 14-year history of building award-winning homes, setting the standard in innovation, quality, location, value and lifestyle. For more information on Starpointe Communities, please visit www.starpointecommunities.net. To learn more, call (480) 951-9800 or visit the website at www.AuctionArtesia.com. Artesia is located at 7295 N. Scottsdale Road in Scottsdale.

This information was current at the time it was published.

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