Press Release

Rising foreclosures combined with an already weak housing market nationwide make it a perfect time for homebuyers to find bargains. As more foreclosures add to the glut of homes for sale each month, consumers are increasingly turning to real estate auctions to take advantage of the market slowdown.

Over 200 southern California homes located in Bakersfield, San Diego, Santa Maria, Los Angeles, Victorville and West Palm Springs will be auctioned by Hudson & Marshall on June 12-17 at various sales sites. Owned by national lenders and asset management companies, the homes come guaranteed with title insurance paid by the sellers. Valued from $150,000 to nearly $700,000, the homes are likely to sell at auction for significantly reduced prices, making this a great buying opportunity for both new and seasoned investors alike.

“We are truly in a buyer’s market and purchasing a home through the auction process is a great way to find a deal. These California homes represent over $65 million worth of property, which we anticipate will sell to the highest bidders at significantly reduced prices because banks want to quickly move bad loans off their books,” said Dave Webb, principal, Hudson & Marshall.

Foreclosures in California continue to swell. According to Realtytrac(R), California reported 30,505 foreclosure filings in April, giving it the largest foreclosure total of any state for the fourth month in a row. California’s foreclosure rate of one foreclosure filing for every 400 households is nearly twice the national average.

Hudson & Marshall, the country’s largest real estate auction firm of foreclosed properties, will auction the southern California homes on the following dates: June 12 in Santa Maria; June 13 in Bakersfield; June 14 in Victorville and West Palm Springs; June 16 in Universal City; and June 17 in San Diego.

All properties are sold “as is” and interested buyers are encouraged not to bid on any home they haven’t seen. Prospective buyers can view properties prior to auction online at http://www.hudsonandmarshall.com/ or during open house events scheduled for June 9-10 from 1:00 pm-3:00 pm. Winning bidders will be required to make a down payment of 5% of the selling price or $2500, whichever is greater, in the form of cash or check. Buyers can also submit bids for properties prior to auction using Hudson & Marshall’s easy Bid Now program available on its website. Buyers usually receive a response from sellers within 24 hours.

In the last eight years, Hudson & Marshall has sold over 40,000 foreclosed homes for national lenders and asset management companies, making the company an expert in moving large volumes of property with speed. Using an aggressive marketing strategy, Hudson & Marshall ensures properties get maximum exposure prior to auction to generate consumer interest in the sale. From beginning to end, the company accelerates the selling process to benefit both the buyer and the seller.

About Hudson & Marshall of Texas Inc.

H&M is America’s Premier Auction Authority. Our 38-year history combined with our continued process enhancements have allowed us to become one of the largest and most respected real estate auction firms in the United States. H&M has set the standard as a full service auction company and continues to consistently raise the bar for our industry. Our number one priority is to provide top-quality service to our customers. Buyers know they can count on H&M to provide value and service from the initial property offering through the closing process. This same approach provides sellers with a one stop single solution to the disposition of real estate assets. Sellers particularly appreciate H&M’s streamlined approach that handles their assets from marketing through closing and funding. The H&M process allows the seller to minimize expenses and maximize return. H&M has assisted clients ranging from individuals to large, medium, and small corporations, government agencies, and financial institutions. Recently, H&M has sold and closed over 40,000 homes throughout the country. See more about H&M at http://www.hudsonandmarshall.com/

Posted: 05|30|07 at 8:31 am. Filed under: US News.