Zetabid, has announced that it will sell approximately 250 bank-owned homes located throughout Southern California on Saturday, March 7, 2009.
Zetabid is auctioning single-family homes, condos and town houses ranging from $50,000 to $800,000 primarily in Los Angeles, Riverside, San Bernardino, Orange and Kern counties. The largest concentration of homes is in the Inland Empire, where foreclosure rates are among the highest in the United States.
At Zetabid’s recent auctions in California and Florida, homes that went into contract at the auction were typically 25% to 40% below the listed retail price.
“Zetabid auctions represent a phenomenal buying opportunity for anyone interested in owning residential property in Southern California,” said Bob Bellack, Chairman of Zetabid. “Because financial institutions need to sell their foreclosed inventory, buyers are in a unique position to purchase investment or owner-occupied properties at prices not seen in many years.”
Zetabid expects more than 1,000 first-time homebuyers, trade-up buyers and investors at the Pomona Fairplex at 1101 W. McKinley Avenue in Pomona. Bidding begins at 10 a.m., and buyers can bring their real estate agent to the auction. Buyers can also bid online or make an offer on a property before the auction by using the ‘Buy It Now’ form at www.zetabid.com. Buyers are encouraged to register in advance online.
Detailed information about each property is available at Zetabid’s website. Zetabid encourages buyers to view homes with a listing agent during its open house on the weekend of Feb. 28-March 1 from noon to 4 p.m., or by appointment. Zetabid urges prospective buyers to carefully inspect properties before bidding.
In addition to its Southern California event, Zetabid is auctioning more than 200 homes in the Phoenix area on Saturday, February 21. Bidding at the Arizona Biltmore begins at 10 a.m., and interested buyers can also make offers online at www.zetabid.com.
