Homebuyers can take advantage of an extraordinary opportunity to save hundreds of thousands of dollars on a new home when Kennedy Wilson conducts an auction of nine beautiful homes on Dec. 9. Minimum selling prices for The Villas at Calle Real, adjacent to the scenic seaside town of Santa Barbara, start at just $595,000 for these quality residences previously priced up to $1,189,500.

The Villas at Calle Real auction will be held at Fess Parker's Doubletree Resort: 633 East Cabrillo Blvd., Santa Barbara. It will begin promptly at 1 p.m., and bidders are advised to arrive no later than noon.

Registration is required to attend this life-changing event and to be eligible to bid on the dramatically reduced homes. Interested bidders can pick up the registration forms at The Villas at Calle Real Auction Information Office: 100 Via Lee, Santa Barbara, CA 93111 and must complete and return the form to the Auction Information Office prior to 5 p.m. Dec. 6. The office is open daily from 10 a.m. to 5 p.m. Bidders can deliver their registration form in person, by mail, or by fax to (805) 967-2089.

In preparation for the auction, bidders are invited to a free How to Buy at Auction seminar at 3:30 p.m. Dec 2. The informative session will enable attendees to learn about the auction process, how to register, bidding strategies and auction terms and conditions. There also will be valuable information about how to pre-qualify for financing.

Though buyers can use their own lender, the seller has arranged very attractive loan programs for purchasers through Wells Fargo Home Mortgage. A representative from Wells Fargo Home Mortgage can discuss with you the availability of all types of loan programs and the opportunity for pre-qualifying. Loan applications also are available at the Auction Information Office.

As a special incentive to buyers who close escrow within 30 calendar days of the auction with financing from Wells Fargo Home Mortgage, the seller will credit up to $5,000 toward closing costs at the close of escrow, based on lender guidelines.

As an additional special incentive, be one of the first 20 auction registrants and if you purchase a home on auction day and close escrow within 30 days, the seller will pre-pay your monthly HOA dues for six months.

"This is a phenomenal opportunity when you consider that these homes, discounted by hundreds of thousands of dollars, are located in one of California's most prestigious and highly desirable areas," said Rhett Winchell, president of Kennedy Wilson, a California-based real estate services and investment company that conducts live auctions and sealed-bid sales for all types of residential properties. "To own a home in Santa Barbara County, at these drastically reduced prices, is almost unheard of."

Highlighted in numerous postcards depicting the ultimate Southern California lifestyle, Santa Barbara offers beautiful sand beaches, verdant hillsides and a culturally rich history that has made it a legendary destination. Blending Old World charm and chic sophistication, the city offers a wide choice of activities, from sailing and surfing, to fine dining and shopping on trendy State Street, sampling the local wineries or hiking the majestic mountains that provide the city's backdrop.

Equally satisfying are the homes themselves, designed with three to four bedrooms, three-and one-half baths and an array of distinctive custom-style features. Covered Saltillo tile porches and designer shutters, abundant windows and open flow spaces give the homes a luxurious ambience. Contemporary living areas and gourmet kitchens accented with sleek granite counters and stainless steel appliances ensure uncompromising comfort and convenience. There is something here for everyone who appreciates the art of fine homebuilding.

For more information or to pick up Auction Brochure No. 7549, call (800) 522-6664. The Villas at Calle Real Auction Information Office is at 100 Via Lee, Santa Barbara.