Press Release
Rising foreclosures combined with an already weak housing market nationwide make it a perfect time for homebuyers to find bargains. As more foreclosures add to the glut of homes for sale each month, consumers are increasingly turning to real estate auctions to take advantage of the market slowdown.
Over 200 southern California homes located in Bakersfield, San Diego, Santa Maria, Los Angeles, Victorville and West Palm Springs will be auctioned by Hudson & Marshall on June 12-17 at various sales sites. Owned by national lenders and asset management companies, the …

The pace of existing home sales in the United States fell in April to a 5.99 million-unit annual rate while inventories swelled, the National Association of Relators said in a report on Friday that showed more weakness than analysts had expected.
Sales were off 2.6 percent in April and hit their lowest level since June 2003.
The inventory of homes for sale grew 10.4 percent to 4.2 million units, which represents an 8.4 months’ supply at the current sales pace.
Economists polled by Reuters were expecting home resales to rise to a 6.14 …

City officials said Friday that 11 lots will be sold for a total of $403,000, provided that bidders complete the transactions within the next month.
Total proceeds generated by the series of auctions, comprising the sale of more than 110 properties, has now grown to about $3 million, officials said. The series was launched in January 2006.
“We have taken nonproductive residential properties the city gained through foreclosure and sold them in the auctions to provide housing sites and jobs,” Mayor John M. Fabrizi said. “We have returned property to the tax …

Four resorts in the Big Horn Mountains will be on the auction block at the end of June, and only one has a “reserve” price that must be met in order for it to sell. Deer Haven, Meadowlark and the Big Horn Ski Resort will all be sold to the highest bidder in a sealed auction, and the Wilderness Ranch will have a reserve.
The resorts can be purchased together or individually.
The impending auction was announced this week, the same time Wyoming’s Department of Environmental Quality cited owner Big Horn Mountain …

Condover Airfield, near Shrewsbury, comes complete with former runways and a control tower. The tower, which opened in 1942 for use as a fighter satellite watch office, is included with nearly 104 acres of land at Little Berriewood Farm, Condover.
All plots on the land are being sold in seven lots by Shropshire agents Halls.

Forty-three building lots will be offered for sale at 1 p.m. June 18 at the municipal building at 627 Pinewald-Keswick Road.
The property is advertised in a glossy brochure prepared by Max Spann, a real estate brokerage firm based in Clinton. The brochure refers to the sale as the “Great Land Auction” and offers potential buyers a chance to “own a piece of the Jersey Shore.”
Most of the property is in the Pinewald section of the township, and many of the lots are on roads that need to be completed.
The auctioneer …

An auction of 16 Oak Lawn high-rise condominiums on Sunday brought about $7.3 million in bids, with the highest bid $815,000 and the lowest, $290,000.
About 100 people showed up for the auction of the Centrum Tower units at 3111 Welborn St. at Oak Lawn Avenue and Cedar Springs Road.
Twelve units were sold “absolute,” meaning the seller must accept the high bid. The lowest final bid for those units was $360,000 and the highest was $650,000, said Michael Fine, executive vice president of Chicago-based Sheldon Good & Co., which conducted the …

The FT reports that private investors appear to be deserting the commercial property market as escalating prices and last week’s interest rate rise begin to bite. In figures released on Tuesday from Savills’ largest commercial property auction, a third of properties went unsold, significantly above the long-run average. At a smaller separate auction held by Colliers CRE on Monday, around two-thirds of properties could not find a buyer – a level not seen for at least a decade.
James Cannon, head of the commercial auctions team at Savills, blamed the sales …

Idaho Auctioneer, Alan Armstrong, will sell his own houses at public auction this week to prove the process works. The auction is scheduled from 5-6:30 PM on Thursday, May 17th. All of the properties are located in Nampa Idaho and all will be sold individually in the front yards and then move onto the next one.
Armstrong has owned and operated ArmstrongAuctions.com for 15 years. After selling his auction gallery last year his company now specializes in auctioning real estate and other high end products.
A friend of his recently challenged …

Private investors appear to be deserting the commercial property market as escalating prices and last week’s interest rate rise begin to bite. In figures released on Tuesday from Savills’ largest commercial property auction, a third of properties went unsold, significantly above the long-run average. At a smaller separate auction held by Colliers CRE on Monday, around two-thirds of properties could not find a buyer – a level not seen for at least a decade.
James Cannon, head of the commercial auctions team at Savills, blamed the sales decline on the growing …