Texas Real Estate Voices

DALLAS, Feb. 26 /PRNewswire-USNewswire/ — Proliferating across the country, foreclosures continue to clog the housing market with too much supply and drive down prices. In this declining market, buyers are relishing their dominant position and eyeing bank-owned real estate auctions as great avenues for finding bargains on homes. Dallas-based Hudson & Marshall will auction nearly 130 foreclosed (bank-owned) homes in Houston on March 8th at 1:00pm at the Hilton-Houston Post Oak. Over 130 homes will be auctioned in Dallas on March 9th at 1:00pm at the Embassy Suites DFW Airport North.

“There’s no question the nation’s housing market is very stagnant,” said
Dave Webb, principal, Hudson & Marshall. “By quickly and efficiently getting new owners into vacant homes, foreclosed real estate auctions can help improve communities suffering from sagging home values,” added Webb.

Texas has one of the highest foreclosure rates in the nation. According to Realtytrac, Texas had the nation’s third highest state foreclosure total in January 2008 with totals hitting 14,698 properties, almost a 20% increase from December 2007.

Valued from $15,000 to over $519,000, all the homes auctioned by Hudson & Marshall have been repossessed by banks and are vacant. Each home comes with title insurance paid for by the sellers. Winning bidders will be required to make a 5% deposit of the total sales price for each home and $2500 of the deposit must be in a cashier’s check. The remainder may be made with a personal or company check.

For individuals who’ve never attended a real estate auction, Hudson & Marshall welcomes first-time bidders to any auction to become familiar with this unique and fun buying method. After learning how the process works, buyers can return to the next auction, ready to buy.

Because properties are sold “as-is,” interested buyers should preview homes before placing any bids. An open house is scheduled March 1-2 from 1:00pm-3:00pm or by contacting listing agents for an appointment. Complete property listings and auction details are available at www.hudsonandmarshall.com. Prior to auction, buyers can also submit bids on properties using Hudson & Marshall’s easy Bid Now program, available on its website. Buyers usually receive a response from sellers within 24 hours.

In the last eight years, Hudson & Marshall has sold over 40,000 foreclosed homes for national lenders and asset management companies, making the company an expert in moving large volumes of property with speed. Using an aggressive marketing strategy, Hudson & Marshall ensures properties get maximum exposure prior to auction to generate consumer interest in the sale. From beginning to end, the company accelerates the selling process to benefit both the buyer and the seller.

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 www.hudsonandmarshall.com.

SOURCE Hudson & Marshall of Texas Inc.

Posted under Dallas, Foreclosures, Houston