OREGON HOME BUILDER RELEASES INITIAL HOME AUCTION SALES EXAMPLES - Numbers released show discounts of up to 36% from previous pricing

February 25, 2008

LAKE OSWEGO, Ore. - Buena Vista Custom Homes announced today that its upcoming auction of 52 completed homes has reached 461 registered bidders.

The auction, which is the second for Buena Vista, will take place at the Ambridge Event Center in Portland on March 8th, 2008. The doors open at 9am with the bidding beginning at 10am; prospective bidders may register at www.auctiontoday.com

The first auction, believed to be the largest two-day sale by a single seller in Oregon real estate history, was held December 15th and 16th 2007 and resulted in 141 homes sold. To date, 122 of the homes have closed.

The homes that will be offered in the upcoming auction are located in some of the most popular selling communities in the Portland Metropolitan area. Communities include: Beaverton, Happy Valley, Hillsboro, Sandy, and Scappoose. Floor plans range from 1605 to 5073 square feet and many include Buena Vista’s popular amenity package’s which include designer finishes such as granite counter tops, extensive hardwood floors, cherry cabinets, stainless steel appliances, multiple fireplaces and much more.

In addition, Buena Vista will be auctioning 18 prime lots in their subdivisions located in Happy Valley and Beaverton. The successful bidders have the choice of selecting Buena Vista to build their home or a builder of their preference.

“We think the response has been great and if you look at the last auction we ended up with 10 attendees per home being offered and for this second sale we are right at those same numbers.” said Roger Pollock, owner of Buena Vista Custom Homes.

The listings in the up coming sale are made of: recently completed homes, homes that did not sell during the first auction, and homes that “sale-failed” after they were secured by bidders in the first auction but never reached closing.

About the Auction: Date: March 8, 2007 Location: Ambridge Event Center 300 N.E. Multnomah Street Portland, Oregon 97232 Registration: Will open at 9 AM Auction Start Time: 10 AM Admission: Free

52 new homes will be auctioned with starting bids as low as $149,000. Financing will be provided at the auction by Wells Fargo with down payments as low as 5%. Loan prequalification before the event is available via phone. Event admission and registration are free. Bidders must have in their possession a $5,000 cashiers check made payable to themselves on auction day in order to receive their bidder number. Winning bidders will be required to put this $5,000 toward their down payment and write a personal or business check for the remainder of the down payment open to escrow. All escrow on properties sold at the auction is expected to close in 21 days. Expected attendance for the event is over 600 buyers.

About Buena Vista Custom Homes: Buena Vista Custom Homes is an Oregon home builder dedicated to making the dream of purchasing an affordable home a reality. Buena Vista currently has developments in Bend, Beaverton, Happy Valley, Hillsboro, Oregon City, Portland, Sandy, Scappoose, and Tigard. Buena Vista was named the No. 1 single-family homebuilder in Oregon and SW Washington by The Portland Business Journal. Builder Magazine tabbed BVCH the fifth fastest growing builder in the nation for 2007. In 2005, 2006, and 2007, they received the Portland Metro Home Builder Association's "Building Excellence Award."