Valued from as Little as $5,500 to Nearly $400,000, Homes Offer Variety of Choices for all Types of Buyers
CHICAGO, April 6, 2011 /PRNewswire-USNewswire/ -- Home prices continue to dip to record lows, as inventories of foreclosures rise, making this an ideal time for buyers to grab discounted property. Auctions of bank-owned homes continue to lure throngs of buyers with their value and pricing. Hudson & Marshall, one of the country's largest real estate auction firms, will auction over 100 foreclosed homes in Chicago April 16th at 1:00 p.m. at the Chicago Burr Ridge Marriott Southwest. Another 60 plus homes will be auctioned April 17th at 1:00 p.m. at the Hilton Garden Inn Milwaukee Park Place.
"For potential buyers contemplating diving head first into the real estate market, now is the time with mortgage rates hitting historic lows and inventories running at all time highs," said Dave Webb, principal, Hudson & Marshall. "Another advantage for buyers purchasing through auction is, banks are motivated to sell these homes at reduced prices because they've carried them on their books for three months to a year," added Webb.
According to the National Association of Realtors (NAR) homes have never been more affordable. In fact, contracts on home purchases have increased by 20% since last year's low when the home buyer tax credit expired. NAR found foreclosures or short sales accounted for almost 40% of home sales in February 2011 compared to 37% in February 2010.
All properties auctioned by Hudson & Marshall come with an insurable title, are sold "as-is" and buyers should inspect properties before placing any bids. Buyers will be required to make a cash or certified check deposit of $2,500 for each property for which they are the winning bidder.
Homes may be viewed during the open house scheduled April 9th and April 10th from 1:00 p.m. -3:00 p.m. 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.
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 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 $3.5 billion and the company anticipates selling another 15,000 homes in 2011.
About Hudson & Marshall
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