Auction PR Publicity Announcements News and Information
Auction PR Publicity Announcements News and Information

Hudson & Marshall Will Auction the Homes April 14th-19th in Salinas, Fresno, Merced, Modesto, Stockton, Kelseyville, San Francisco area, and Sacramento

As home prices continue their swift descent, more buyers questing for bargains are gobbling up foreclosures, particularly in California where the inventory is plentiful. According to the National Association of Realtors (NAR), foreclosures typically sell 20% below their market value, making them very attractive purchases. America’s leading real estate owned (REO) auction firm, Hudson & Marshall will auction nearly 300 bank-owned foreclosures April 14th-19th in cities throughout Northern California. About 100 homes will be auctioned in the San Francisco area.

All the homes up for auction come with a clean, insurable title paid for by the sellers. Buyers will be required to make a $5,000 deposit with a certified check or cash on each property which they are the winning bidder. Before the auction, buyers should try to get pre-approved for a loan so they know how much they can bid on a property.

“Affordable home prices, low interest rates and the first time homebuyers tax credit are enticing buyers to jump into the market with both feet, particularly owner occupant buyers,” remarked Dave Webb, principal, Hudson & Marshall. “Last year and continuing into 2009, Hudson & Marshall is seeing strong demand from owner-occupant buyers, including first-time homebuyers, at our California auctions. This year 47% of our buyers in California have been owner-occupant buyers compared to 53% investor buyers,” added Webb.

In February home sales rose 5.1% to 4.7 million units up from 4.49 million in January and distressed properties accounted for almost 50% of those sales, according to NAR’s February data. The average price of a home in the West was $204,600 in February, about 30% less than the average price the same time a year ago.

The Northern California foreclosed homes being auctioned by Hudson & Marshall are sold “as-is” and buyers should inspect properties before placing any bids. An open house is scheduled April 9th from 1:00 pm – 4:00 pm. Buyers may also contact listing agents to make appointments to view properties. Complete property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

Homes will be auctioned on the following dates:

April 14th – Salinas/Watsonville (11 homes) at 7:00 pm-Courtyard Salinas-Monterey

April 15th – Fresno (31 homes) at 12:00 pm-Holiday Inn Fresno Downtown

April 15th – Merced (29 homes) at 7:00 pm-Holiday Inn Express Hotel and Suites Merced

April 16th – Modesto (26 homes) at 12:00 pm-Doubletree Hotel

April 16th – Stockton (39 homes) at 7:00 pm-Lexington Plaza Waterfront Hotel

April 16th – Kelseyville (7 homes) at 7:00 pm-Konocti Harbor

April 18th – Bay Area (105 homes) at 1:00 pm-Walnut Creek Marriott

April 19th – Sacramento (37 homes) at 1:00 pm-Radisson Hotel Sacramento

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.

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.