Nearly 30 Homes Auctioned in Reno October 7th and 150 Homes Auctioned in Las Vegas October 9th
LAS VEGAS , Oct. 1 /PRNewswire/ -- In cities like Las Vegas where home prices continue to fall, buyers can find sizzling deals on foreclosed properties sold at auction. As foreclosure inventories continue creeping up across the country, banks are selling these homes at discounted prices to avoid long-term carrying costs. Hudson & Marshall will auction nearly 30 bank-owned homes in Reno October 7th and another 150 homes in Las Vegas October 9th.
Valued from about $33,000 to $294,000, all homes come with an insurable title and no back taxes or liens. Buyers will be required to make a cash or certified check deposit of $2,500 for each property which they are the winning bidder.
"With interest rates at historic lows and home prices still trending downward in many cities, now is the time for homebuyers contemplating a purchase to dive into the market," said Dave Webb, principal Hudson & Marshall. "Investors and owner occupant buyers who purchase property now will likely see a good return on their investments when the market rebounds," added Webb.
While some markets are seeing home prices move upward, home values in Las Vegas are sinking to new lows. According to S&P/Case-Shiller Home Price Indices data through July 2010, home prices in Las Vegas have steadily declined in all but two of the past 46 months. Based upon its peak in August 2006 to its current low, the Las Vegas housing market is down 57%.
All homes being auctioned by Hudson & Marshall are sold "as-is" and buyers should inspect properties before placing any bids. Properties can be viewed during the open house scheduled Saturday, October 2nd and Sunday, October 3rd from 1:00pm-3:00pm or by contacting listing agents to schedule 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:
October 7th – Reno (27 homes) at 7:00pm-Holiday Inn Reno-Sparks
October 9th –Las Vegas (153 homes) at 1:00pm-JW Marriott Las Vegas Resort
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. All sales will close within 30-45 days.
Having sold over 80,000 homes for sellers in the past ten years, Hudson & Marshall, 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 $2.2 Billion and the company anticipates selling another 15,000 homes in 2010.
About Hudson & Marshall of Texas, Inc.
H&M is America's Premier Auction Authority. Our 45-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. Since 1999, H&M has sold and closed over 80,000 homes throughout the country. See more about H&M at www.hudsonandmarshall.com.
SOURCE Hudson & Marshall of Texas, Inc.