Auction of Nearly 250 Ohio and Pennsylvania Homes Offers Buyers Bargain Bonanza
Press Release
Home sales are skidding into decline putting hungry buyers on the fast track to find a treasure trove of bargains at private foreclosure auctions. Foreclosed properties owned by lenders, known as real-estate owned (REO) can often be purchased at significant discounts because lenders want to sell the properties quickly to reduce carrying costs.
Hudson & Marshall, America’s largest auction firm of foreclosed properties, will auction nearly 250 foreclosed homes throughout Ohio and Pennsylvania for national lenders on March 5-10. The homes are valued from $5000-over $250,000 and come guaranteed with title insurance.
“Real estate auctions are appealing to more people because it is a swift approach to buying a home. We connect motivated buyers with motivated sellers in a relaxed setting to dispose of property without drawn out negotiations or contingencies that delay closings,” commented Dave Webb, principal, Hudson & Marshall. “Sales occur on a specific day and time in a competitive bidding environment, which allows a home’s true value to emerge, creating a great business opportunity for everyone,” added Webb.
The effervescent housing bubble began to burst in 2005 when home sales slowed and interest rates climbed, forcing consumers with adjustable rate mortgages to default on loans, fueling the rise in foreclosures. According to RealtyTrac(TM), the national foreclosure rate rose 19% in January 2007 with $130,511 properties entering into foreclosure. This was an increase of 25% from January 2006. Ohio reported a total of 8,504 homes entering foreclosure in January 2007 while Pennsylvania reported a total of 3,746.
Hudson & Marshall will auction 231 homes, 186 in Ohio and 45 in Pennsylvania on the following dates and locations: March 5th in Cincinnati and Chillicothe, OH and Philadelphia, PA; March 6th in Dayton, and Columbus OH; March 7th Toledo, OH; March 8th Canton, OH and Pittsburgh, PA; March 9th in Youngstown, OH; and March 10th in Cleveland, OH.
All properties are sold “as is” and interested buyers are encouraged to visit all properties beforehand. Buyers can view a complete listing of properties by visiting http://www.hudsonandmarshall.com
Related posts:
