DETROIT, MI -- Valued From $5,000 to Over $300,000, the Homes Will Be Auctioned by Hudson & Marshall, the Country's Largest Real Estate Auction Firm of Foreclosed Property In a wilting real estate market with foreclosures rising, buyers are now in the driver's seat of home sales and can find even greater bargains in pursuing property through auction. Hudson & Marshall, the country's largest auction firm of foreclosed property, will auction over 300 Detroit homes on January the 20th and 21st. All the foreclosed homes are owned by banks or financial lenders and come guaranteed with title insurance.
"Real estate auctions accelerate the selling process, making it a win-win proposition for everyone. Motivated buyers and sellers come together in a competitive bidding environment that allows a property's true market value to emerge," said Dave Webb, principal, Hudson & Marshall. "Hudson & Marshall sells and closes homes in less than 30 days without the hassles of contingencies, which is why more people are turning to auctions to buy investment or first time homes," added Webb.
Climbing interest rates have triggered adjustable rate mortgages to re-set to higher rates, forcing many homeowners into foreclosure because they can no longer afford to pay their loans. The Detroit metropolitan area continues to experience a surge in foreclosures. According to RealtyTrac(R), in November 2006 Detroit posted the nation's second highest foreclosure rate for the second month in a row with 3,333 properties entering some stage of foreclosure.
Foreclosed property doesn't mean distressed property, it means a homeowner defaulted on his mortgage and the lender took back possession of the property. Because lenders are eager to sell foreclosed homes quickly to avoid the high carrying costs of bad debt, buyers can typically purchase foreclosed homes below their market value at auctions.
Hudson & Marshall will auction over 300 homes in the Detroit area on Saturday, January 20 and Sunday, January 21, 2007 at 1:00pm at the Hyatt Regency Dearborn. All properties are sold "as is" and interested buyers are encouraged to visit all properties beforehand. Buyers can view an entire listing of properties online at http://www.hudsonandmarshall.com/. Winning bidders will be required to write a check for 5% of the purchase price or $2,500, whichever is greater.
Making the buying process even easier, buyers may also purchase property online prior to auction using Hudson & Marshall's unique Bid Now program. This hybrid online program allows buyers to submit bids through the company's website and receive an immediate response from sellers, usually within 24 hours. Over 30% of homes sell through the Bid Now program before auction, giving sellers another great vehicle to move properties quickly from the market.
In the last eight years, Hudson & Marshall has sold over 40,000 foreclosed homes for national lenders and asset management companies, making the company an expert in moving property quickly. Using an aggressive marketing strategy, Hudson & Marshall ensures properties get maximum exposure prior to auction, generating excitement and buyers' interest in the sale. From beginning to end, the company accelerates the selling process to benefit both the buyer and seller.
About Hudson & Marshall of Texas Inc.
H&M is America's Premier Auction Authority. Our 38-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 40,000 homes throughout the country. See more about H&M at http://www.hudsonandmarshall.com/.
Contact: Crystal Wright
202/829-0848
First Call Analyst:
FCMN Contact:
Source: Hudson & Marshall of Texas Inc.
|
| Notes:
CONTACT: Crystal Wright, +1-202-829-0848, for Hudson & Marshall of Texas
Inc.
Web site: http://www.hudsonandmarshall.com/
About This Release
If you have any questions regarding information in this press release, please contact the organization listed in the press release. Issuers of press releases and not TCI are solely responsible for the accuracy of the content.
 | |
| Advertisement |
|
