Valued from $15,000 to $475,000, these Foreclosed Homes Will Be Auctioned by Hudson & Marshall December 1, 2007
DENVER, Nov. 19 /PRNewswire-USNewswire/ — Erupting across the country like a contagion, foreclosures continue to hobble the nation’s housing market, fueling the glut of homes for sale and further deflating prices. While economists portend bleak news in the months ahead, there is a silver lining to the slumped housing market — buyers can find bargains, particularly at foreclosed property auctions. Hudson & Marshall, the nation’s leading foreclosed real estate auction firm, will auction 131 foreclosed properties in the Denver area on December 1, 2007 at 1:00 pm at the Denver Marriott Tech Center.
In recent years, Hudson & Marshall has sold thousands of Denver area homes through their auction program to investor and owner occupant buyers alike. Valued from $15,000 to $475,000, the homes are owned by national lenders or asset management companies and come with an insurable title, free of back taxes or liens. These are foreclosed properties also known as Real Estate Owned (REO), which means they have been repossessed by the lenders and the homeowners have vacated the homes. Sellers are anxious to dispose of the homes because they are losing money each month on these defaulted loans. For detailed property listings and auction information, buyers can visit www.hudsonandmarshall.com.
“Many of the foreclosed homes Hudson & Marshall has auctioned over the last year are move in ready or need very little fixing up. We are seeing more and more families and first time homebuyers attend our auctions held all over the US,” said Dave Webb. “In today’s sluggish housing market, where buyers can almost set their price for homes, this is an opportunity to find deals on property,” added Webb.
Denver continues to report a high rate of foreclosures. According to Realtytrac(R), for the third quarter of 2007, Denver ranked 12th in the nation among metro foreclosure rates with a total of 13,179. This is an increase of about 28% over the number of foreclosure filings in Denver for the second quarter of 2007.
Hudson & Marshall makes purchasing foreclosed property through the auction method easy and fun. The company’s experienced staff will answer buyers’ questions and guide them through the closing process. There are no minimum starting bids on homes; the buyers set the price and all contracts close in 30 days.
Pre-registration is not required. Winning bidders must make cash or check down payment of $2500 or 5% of the total selling price, whichever is greater. All homes are sold “as is” and interested buyers are encouraged to inspect properties prior to placing bids. Buyers can view properties during the open house on November 26th from 1:00 pm – 3:00 pm or call the listing agents to scedule appointments.
Prior to the auction, buyers can purchase property online by visiting www.hudsonandmarshall.com and clicking on the Bid Now icon and submitting a bid. Usually, sellers turn around a response within 24 hours. Buyers should understand this is a reserve auction, which means the sellers reserve the right to accept or reject any offer but the good news is in past auctions held by Hudson & Marshall over 90% of offers have been accepted.
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 www.hudsonandmarshall.com.
SOURCE Hudson & Marshall of Texas Inc.
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