Foreclosed Homes Auctioned in Cities Throughout North and South Carolina

. June 18, 2009

Foreclosures are driving down home prices and enticing buyers back into the housing market with discounts too good to pass up. The average price of a home in the South was $148,000 in April, down nearly 13% from a year ago (National Association of Realtors). Hudson & Marshall will auction about 120 bank-owned homes June 23rd-28th in the following cities in North and South Carolina: Raleigh/Durham, Charlotte, Columbia, Greenville, Hilton Head Island, Charleston, Triad and Myrtle Beach.

All homes come with guaranteed title insurance paid for by the sellers. Prospective buyers will be required to make a cash or certified check deposit of $2,500 for each property which they are the winning bidder.

“The stars are aligned for buyers right now. Mortgage rates and prices have hit historic lows and the $8000 first-time homebuyer tax credit is the icing on the cake. Buyers look forward to coming to our auctions because they know they’re going to have fun and leave with a great piece of property at an incredible price in today’s slumped market,” remarked Dave Webb, principal, Hudson & Marshall.

According to NAR, in April distressed properties accounted for 45% of all home sales. Bank-owned home auctions are an efficient and fair way to sell homes. They create a level playing field among buyers, who set the market price for a property on that particular day and time.

All homes being auctioned by Hudson & Marshall are sold “as-is” and buyers should inspect properties before placing any bids. Buyers may view homes during the open house scheduled June 18th and 20th from 1:00 p.m. – 3:00 p.m. or by contact listing agents to make appointments. Complete property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172. Bidders should check the website periodically to see which properties may have sold in advance of the auction through the company’s online pre-sales program.

Hudson & Marshall will auction the homes on the following dates:
June 23rd — Columbia (4 homes) at 1:00 p.m. — Embassy suites Columbia — Greystone
June 23rd — Greenville (13 homes) at 7:00 p.m. — Embassy Suites Greenville Golf Resort & Conference Center
June 23rd — Hilton Head (15 homes) at 7:00 p.m. — Hilton Oceanfront Resort
June 24th — Charleston (7 homes) at 7:00 p.m. — Embassy Suites North Charleston
June 24th — Myrtle Beach (17 homes) at 7:00 p.m. — Hilton Myrtle Beach Resort
June 25th — Triad/Winston-Salem (14 homes) at 11:00 a.m. — Holiday Inn Select Winston-Salem
June 27th — Raleigh/Durham (24 homes) at 1:00 p.m. — Hilton North Raleigh
June 28th — Charlotte (26 homes) at 1:00 p.m. — Renaissance Charlotte South Park Hotel

Prior to auction, buyers can purchase property online by visiting the website and clicking on the Bid-Now icon. Sellers typically respond to offers within 24 hours. This is a reserve auction, which means sellers have the right to accept, reject or counter any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.

Having sold over 70,000 homes for sellers in the past eight years, Hudson & Marshall of Texas, Inc. is the most experienced, trusted leader in the REO auction industry. The company’s accelerated sales process enables it to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return. Over the past five years alone, Hudson & Marshall’s total sales have topped $1.2 billion and the company anticipates selling another 30,000 homes through 2009.

About Hudson & Marshall of Texas, Inc.
Auctioneer/Broker
H&M is America’s Premier Auction Authority. Our 40-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 70,000 homes throughout the country. See more about H&M at www.hudsonandmarshall.com.

Category: Auction News

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