Over $43 Million in Lender Foreclosed Homes Offered at Los Angeles Real Estate Auction

. March 19, 2008

LOS ANGELES – National Home Auction Corporation, a foreclosure and builder closeout auction company, completed another blow-out auction event on Sunday, March 16th at the Los Angeles Convention Center in downtown Los Angeles. The event hosted an energetic and diverse crowd of approximately 2,000 people looking to purchase their first homes, investment properties and second or vacation homes. A total of 1,065 bids were made on 119 homes during the all-day event.

“Our Los Angeles auction was our most successful to date, solidifying the demand for the service we are providing to the public,” commented Ryan Knott, CEO of National Home Auction Corporation. “With the rate of foreclosures increasing and the previous state of residential real estate, which for many years had priced homebuyers out of the market, we believe the demand for auction sales is on an upswing, allowing many buyers the opportunity to get back into the market and realize the American Dream of homeownership.”

“These events are a win-win for both lenders and homebuyers,” added Chris Connelly, President of National Home Auction Corporation. “Consumers have the ability to purchase properties at great prices, and lenders have the opportunity to liquidate foreclosed properties at a much more rapid speed than traditional methods.”

National Home Auction holds foreclosure auctions and builder closeouts in markets throughout the nation. Upcoming auctions will be held in Denver, Las Vegas, Phoenix, Orlando, Tampa, Miami and more. Additional information on upcoming auction locations and schedules can be found by visiting http://www.HomeAuctionDirect.com.

Category: Auction News

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