Dallas-based Hudson & Marshall will auction nearly 130 foreclosed (bank-owned) homes in Houston on March 8th at 1:00pm at the Hilton-Houston Post Oak. Over 130 homes will be auctioned in Dallas on March 9th at 1:00pm at the Embassy Suites DFW Airport North.

“There’s no question the nation’s housing market is very stagnant,” said Dave Webb, principal, Hudson & Marshall. “By quickly and efficiently getting new owners into vacant homes, foreclosed real estate auctions can help improve communities suffering from sagging home values,” added Webb.

Texas has one of the highest foreclosure rates in the nation. According to Realtytrac, Texas had the nation’s third highest state foreclosure total in January 2008 with totals hitting 14,698 properties, almost a 20% increase from December 2007.

Valued from $15,000 to over $519,000, all the homes auctioned by Hudson & Marshall have been repossessed by banks and are vacant. Each home comes with title insurance paid for by the sellers. Winning bidders will be required to make a 5% deposit of the total sales price for each home and $2500 of the deposit must be in a cashier’s check. The remainder may be made with a personal or company check.

More info http://www.hudsonandmarshall.com/

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Posted: 02|26|08 at 8:20 pm. Filed under: US Auction News.