Over 400 Bank Owned Homes Hit Auction Block in Sunshine State

June 23rd, 2010 by PA - Bloger

Homes Will Be Auctioned May 5th-10th in Ft. Pierce, Ft Walton Beach, Ft. Myers, Ft. Lauderdale/Miami, Gainesville, Jacksonville, Orlando, and Tampa

MIAMI, May 4 /PRNewswire-USNewswire/ — Swimming in foreclosures and double digit price declines, Florida’s dreary housing market is sunny news for buyers looking to catch deals on homes. In the Sunbelt states like Florida where foreclosures are among the highest in the country, buyers are rushing to bank-owned home auctions to purchase property at further reductions. Hudson & Marshall, the country’s leading real estate auction firm, will auction over 400 homes in cities throughout Florida May 5th – May 10th. Nearly 140 homes will be auctioned in Orlando, another 120 in the Ft. Lauderdale/Miami area and almost 60 homes in Tampa.

Valued from about $5000 to $475,000, all the homes come with title insurance paid for by the sellers. Buyers will be required to make a cash or certified check deposit of $3000 for each property which they are the winning bidder. No pre-registration is required and individuals not interested in placing bids are welcome to attend the auction to learn about the process.

“Bank-owned real estate auctions are a quick way to bring buyers and sellers together in one place at one time and dispose of a large amount of property,” said Dave Webb, principal, Hudson & Marshall. “With so many foreclosures on their books, banks are aggressively trying to get rid of these homes and turning to auction firms to sell them at a discount to new homeowners,” added Webb.

The nation’s Sunbelt states continue to get clobbered by deteriorating home prices and rising foreclosures. According to S&P/Case-Shiller Home Prices Indices’ data through February 2009, Miami home prices plunged nearly 30% from the same time a year ago while Tampa’s home prices dropped 23%. In the first quarter of 2009, Realtytrac found California, Florida, Arizona, Nevada and Illinois accounted for nearly 60% of the nation’s foreclosures with 479,516 properties within these states receiving a foreclosure filing.

All homes being auctioned by Hudson & Marshall are sold “as-is” and buyers should inspect properties before placing any bids. Buyers may contact listing agents to make appointments to view homes. 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:
May 5th – Ft. Walton (12 homes) at 7:00pm-Embassy Suites Destin at Miramar Beach
May 5th – Ft. Pierce (16 homes) at 7:00pm-Hilton Garden Inn at PGA Village
May 6th – Ft. Myers (49 homes) at 7:00pm-Harborside Event Center
May 6th – Jacksonville, FL (33 homes) at 7:00pm-Embassy Suites Jacksonville-Baymeadows
May 7th – Tampa (57 homes) at 7:00pm- Tampa Marriott Westshore
May 7th – Gainesville (9 homes) at 11:00am-Courtyard by Marriott Gainesville
May 9th – Orlando (136 homes) at 1:00pm-Renaissance Hotel Orlando Airport
May 10th – Ft. Lauderdale/Miami (120 homes) at 1:00pm-Ft. Lauderdale Marriott North

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.

SOURCE Hudson & Marshall of Texas Inc.


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