Wednesday, January 12, 2011

Over 250 Foreclosed Atlanta Homes Head to the Auction Block, Tempting Buyers With Deals

/PRNewswire -- As home sales edge upward, buyers continue to gravitate toward foreclosed properties because they remain some of the best buys in today's real estate market. On average bank-owned homes sell at a discounted price compared to similar homes in a neighborhood. Hudson &Marshall will auction over 250 Atlanta area foreclosed homes January 22nd-23rd at the Atlanta Marriott Century Center at 1:00 p.m.

Prospective buyers will be required to make a $2,500 cash or certified check deposit for each property, for which they are the winning bidder. There is a wide array of homes from which investors and owner-occupant buyers can choose. Homes come with an insurable title, and all sales will close within 30-45 days. Buyers may secure financing with the lender of their choice prior to closing; however, closing is not contingent upon financing.

"The downturn in the housing market has made buyers more educated and savvy about the homebuying process. With the high levels of foreclosures flooding the market, consumers have realized that foreclosures don't necessarily mean run-down property anymore. They can be purchased at a reduced price and in move-in ready condition," remarked Dave Webb, principal, Hudson & Marshall.

All properties auctioned by Hudson & Marshall are sold "as-is" and buyers should inspect properties before placing any bids. Homes can be viewed during the open house scheduled Saturday, January 15th and Sunday, January 16th 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.

Realtytrac® reported during the third quarter of 2010, foreclosures accounted for 25% of all U.S. home sales, and average sales price of properties sold while in some stage of foreclosure was more than 32% below the average sales price of homes not in the foreclosure process. In Georgia, foreclosure sales accounted for 29% of all residential home sales in the third quarter of 2010.

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.

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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 $3.5 billion, and the company anticipates selling another 15,000 homes in 2011.

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