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

Auction of Over 150 Southern California Bank-Owned Homes

Heavily discounted distressed properties are attracting droves of homebuyers and driving sales gains in foreclosure laden states like California. According to the National Association of Realtors (NAR), in the first quarter of 2008, California home sales surged 80%. Buyers hungry for foreclosed property will find plenty of deals on investor and move-in ready property at Hudson & Marshall’s sale of over 150 homes in cities throughout Southern California June 10th – 14th.

All homes come with title insurance paid for by the sellers and buyers will be required to make a cash or certified check deposit of $5,000 for each property which they are the winning bidder. A 5% buyer’s premium will be added to the sales price.

“With sales climbing in hard-hit markets like California, we’re also seeing prices inch up in certain markets. Now is the time to buy. Banks are highly motivated to sell their inventory and aggressively discounting homes at auctions. Buyers should take advantage of these low prices before the market recovers and demand returns along with increased prices,” remarked Dave Webb, principal, Hudson & Marshall.

NAR recently reported distressed properties accounted for 45% of all sales in April and found buyers are “bidding up many foreclosed listings, particularly in California, Nevada and Florida.” The average home price in April was $170,000, which is 15.4% below the average home price in 2008.

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 6th and 7th from 1:00 pm – 4:00 pm or by contacting listing agents to make appointments. Complete property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

Hudson & Marshall will auction the homes on the following dates:

June 10th – Bakersfield (18 homes) at 1:00 pm – Doubletree Hotel-Bakersfield

June 10th – Palmdale (12 homes) at 7:00 pm – Hilton Garden Inn-Palmdale

June 11th – Victorville (19 homes) at 1:00 pm – Hilton Garden Inn Victorville

June 11th – Palm Springs (16 homes) at 7:00 pm – Holiday Inn Palm Springs

June 11th – San Diego (12 homes) at 7:00 pm – San Diego Marriott-Mission Valley

June 13th – LA/Orange County (40 homes) at 1:00 pm – Westin Long Beach

June 14th – San Bernardino/Riverside (50 homes) at 1:00 pm – Riverside Marriott

Before the 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. Prospective bidders are encouraged to check the website daily to verify which properties have been sold through the pre-auction program. 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.

Hudson & Marshall of Texas Inc.
CONTACT: Crystal Wright, Baker Wright Group, +1-202-829-0848,
[email protected], for Hudson & Marshall of Texas Inc.

Web site: http://www.hudsonandmarshall.com/