Homebuyers Can Grab Hot Deals at Foreclosure Auction of Nearly 200 Homes In Arizona, Colorado and Nevada

Homes Will Be Auctioned July 20th-July 24th

PHOENIX, July 13 /PRNewswire-USNewswire/ -- Buyers hungry for great prices on homes still find foreclosed properties to be some of the best deals on the market.  With so many foreclosures available, banks are offering significant discounts on properties to sell them quickly. Hudson & Marshall, America's leading REO auction firm, will auction nearly 200 bank-owned homes in cities throughout Arizona, Colorado and Nevada July 20th-24th. About 100 of these homes will be auctioned in Phoenix July 24th.

Valued from about $18,000 to over $450,000, all homes up for auction 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 of which they are the winning bidder.

"In many cities across the country, bank-owned homes remain the most sought after properties on the block. Because many foreclosed homes have been listed for three months or longer without selling, it is not unusual for these foreclosed properties to sell at auction at a 15%-20% discount," remarked Dave Webb, principal, Hudson & Marshall.

In foreclosure saturated states like Arizona and Nevada, foreclosure sales account for the majority of homes being sold. According to Realtytrac, in the first quarter of 2010, foreclosure sales represented 64% of total homes sold in Nevada and 50% of all homes sold in Arizona.  

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, July 17th and Sunday, July 18th 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:

July 20th – Reno (7 homes) at 7:00pm-Hilton Garden Inn Reno

July 20th –Colorado Springs (6 homes) at 7:00pm-Hyatt Place Colorado Springs/Garden of the Gods

July 21st –Las Vegas (14 homes) at 7:00pm-Hampton Inn & Suites-Las Vegas Airport

July 21st –Greely, CO (6 homes) at 7:00pm-Residence Inn Loveland/Ft. Collins

July 22nd –Denver (32 homes) at 7:00pm-Denver Airport Marriott at Gateway Park

July 22nd –Tucson (21 homes) at 7:00pm-Four Points by Sheraton Tucson University Plaza

July 24th –Phoenix (100 homes) at 1:00pm-JW Marriott Desert Ridge

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 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.