Over $65 Million Worth of Foreclosed Property in Southern California to be

Sold at Auction Prices June 12-17, 2007

    LOS ANGELES, May 29 /PRNewswire/ -- Rising foreclosures combined with
 an already weak housing market nationwide make it a perfect time for
 homebuyers to find bargains. As more foreclosures add to the glut of homes
 for sale each month, consumers are increasingly turning to real estate
 auctions to take advantage of the market slowdown.
     Over 200 southern California homes located in Bakersfield, San Diego,
 Santa Maria, Los Angeles, Victorville and West Palm Springs will be
 auctioned by Hudson & Marshall on June 12-17 at various sales sites. Owned
 by national lenders and asset management companies, the homes come
 guaranteed with title insurance paid by the sellers. Valued from $150,000
 to nearly $700,000, the homes are likely to sell at auction for
 significantly reduced prices, making this a great buying opportunity for
 both new and seasoned investors alike.
     "We are truly in a buyer's market and purchasing a home through the
 auction process is a great way to find a deal. These California homes
 represent over $65 million worth of property, which we anticipate will sell
 to the highest bidders at significantly reduced prices because banks want
 to quickly move bad loans off their books," said Dave Webb, principal,
 Hudson & Marshall.
     Foreclosures in California continue to swell. According to
 Realtytrac(R), California reported 30,505 foreclosure filings in April,
 giving it the largest foreclosure total of any state for the fourth month
 in a row. California's foreclosure rate of one foreclosure filing for every
 400 households is nearly twice the national average.
     Hudson & Marshall, the country's largest real estate auction firm of
 foreclosed properties, will auction the southern California homes on the
 following dates: June 12 in Santa Maria; June 13 in Bakersfield; June 14 in
 Victorville and West Palm Springs; June 16 in Universal City; and June 17
 in San Diego.
     All properties are sold "as is" and interested buyers are encouraged
 not to bid on any home they haven't seen. Prospective buyers can view
 properties prior to auction online at http://www.hudsonandmarshall.com or
 during open house events scheduled for June 9-10 from 1:00 pm-3:00 pm.
 Winning bidders will be required to make a down payment of 5% of the
 selling price or $2500, whichever is greater, in the form of cash or check.
     Buyers can also submit bids for properties prior to auction using
 Hudson & Marshall's easy Bid Now program available on its website. Buyers
 usually receive a response from sellers within 24 hours.
     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 large volumes of property with
 speed. Using an aggressive marketing strategy, Hudson & Marshall ensures
 properties get maximum exposure prior to auction to generate consumer
 interest in the sale. From beginning to end, the company accelerates the
 selling process to benefit both the buyer and the 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
 
 

SOURCE Hudson & Marshall of Texas Inc.