Nearly 600 Southern California Foreclosed Homes Totaling $198 Million Up For Auction

Nearly 600 Southern California Foreclosed Homes Totaling $198 Million Up For Auction

With Homes Valued from $100,000 to nearly $700,000, Buyers Will Likely Find Pick of Deals at Auction Scheduled November 6-11

LOS ANGELES, Oct. 30 /PRNewswire/ — A souring housing market brimming over with foreclosures and falling home prices translates into sweet news for buyers in search of deals. As property values continue their spiral downward, more owner occupant buyers are turning to foreclosed property auctions to find even greater price reductions. America’s largest foreclosed real estate auction firm, Hudson & Marshall will auction nearly 600 foreclosed homes located throughout Los Angeles and the San Bernardino Valley area on November 6-11.

Valued from $100,000-$700,000, all the homes have been repossessed by the banks and are currently owned by national lenders and asset management companies. The properties are vacant and come with a clean title paid for by the sellers. Homes are sold “as-is” and potential buyers should inspect properties prior to auction. All homes may be previewed during the open house scheduled November 3rd and 4th from 1:00pm-3:00pm or by contacting listing agents for an appointment. Complete property listings and details are available at http://www.hudsonandmarshall.com.

“The overstock of homes on the market is driving down prices, making it an excellent time for investors and average homebuyers to cash in on deals, particularly by buying foreclosed real estate,” remarked Dave Webb, principal, Hudson & Marshall. “Buyers can find even better discounts on property at foreclosed real estate auctions because sellers are eager to dispose of these loans generating no revenue,” added Webb.

According to the National Association of Realtors, in September 2007, there were 4.4 million homes, a ten months supply, on the market. The beleaguered housing market will likely get even more weighed down by the rising tide of foreclosures saturating the country. Economists predict that by year's end about 2 million subprime loans will go into foreclosure further driving down prices. According to Realtytrac(R), California reported 51,259 foreclosure filings in September the highest of any state and one foreclosure filing for every 253 households, giving it the nation's third highest state foreclosure rate.

Hudson & Marshall will auction the Southern California homes on the following dates and locations: November 6 in Temecula; November 7 and 8 in Riverside; November 10 in Anaheim; and November 11 in Ontario. There are no minimum starting bids and buyers can register on site the day of the auction.

All properties are sold “as is” and buyers should not bid on any property they haven't seen. Prior to the sale, buyers may also place bids online at http://www.hudsonandmarshall.com by clicking “Bid Now” and will usually receive a response from sellers within 24 hours. While this is a reserve auction, where sellers have the right to accept or reject any bid, in past auctions conducted by Hudson & Marshall, over 90% of bids were accepted. Having sold over 50,000 homes in the past eight years through auction, Hudson & Marshall is the experienced leader in the REO auction business.

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
             Public Relations Strategist
             202/549-8072

SOURCE Hudson & Marshall of Texas Inc.

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