Over 100 Foreclosed Homes Auctioned in Arizona and Nevada

Jan 15, 2010, 13:07 ET from Hudson & Marshall of Texas, Inc.

Hudson & Marshall Will Auction Bank-Owned Homes January 20th -23rd

PHOENIX, Jan. 15 /PRNewswire-USNewswire/ -- In states like Arizona and Nevada where the real estate market is swimming in foreclosures, banks are aggressively discounting these properties at auction to move them off their books. As a result, distressed properties are becoming the most sought after homes for buyers. America's leading foreclosure auction firm, Hudson & Marshall will auction about 115 homes in Arizona and another 12 in Nevada in various cities January 20th -23rd.

Valued from $35,000 to $525,000, all the homes come with an insurable title, no back taxes or liens. Buyers will be required to make a cash or certified check deposit of $5,000 for each property which they are the winning bidder.

"In today's economic environment, consumers want to get the most out of their dollars and are looking for savings on everything, especially homes. Buyers want to purchase bank-owned homes because they usually can be bought at auction for a 15%-20% discount off the last list price," said Dave Webb.

According to Realtytrac, foreclosures surged 21% in 2009 topping 3.9 million filings up from 2.8 filings in 2008. Nevada posted the highest foreclosure rate in the nation in 2009 with 10% of homes receiving a filing and Arizona came in second with 6% of all homes receiving a filing.

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 January 16th and 17th from 1:00 pm - 3:00 pm or by contacting listing agents to schedule an appointment. 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:

January 20thReno (6 homes) at 7:00 pm- Holiday Inn Express-Reno Airport

January 20thShow Low, AZ (4 homes) at 7:00 pm-Holiday Inn Express

January 21stLas Vegas (6 homes) at 12:00 pm-Hampton Inn & Suites Airport

January 21stKingman (16 homes) at 7:00 pm-Hampton Inn & Suites Kingman

January 21stTucson (18 homes) at 7:00 pm-Four Points by Sheraton Tucson University Plaza

January 22ndYuma (4 homes) at 1:00 pm-Holiday Inn Express Yuma

January 23rdPhoenix (73 homes) at 1:00 pm- Camelback Inn, JW Marriott

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 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 2010.

About Hudson & Marshall of Texas, Inc.

H&M is America's Premier Auction Authority. Our 40-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.