From that story:
Ocean Pacific Companies plans to spend $400,000 to market 23 condominiums that will be auctioned Oct. 11. The event will mark the first time in recent memory that so many luxury, beachfront homes have been placed on the auction block in California, said Ken Stevens, co-founder of Accelerated Marketing. It also reflects the growing sense of uncertainty among sellers about when the housing market will rebound.
I’ve put in a call to Ken Cornell, the developer, to find out more about the decision to sell the units at auction. I’ll keep you posted when I hear back.