Nearly 400 bank-owned foreclosures will be auctioned by Hudson & Marshall throughout cities in Southern California on October 7th-12th. Buyers will be required to make a $5,000 deposit in the form of cash, cashier’s check or certified funds for each property which they are the winning bidder.

“Due to the large number of foreclosures flooding the market, consumers’ perception of foreclosures has changed dramatically compared to five or ten years ago,” remarked Dave Webb, Principal, Hudson & Marshall. “Buyers understand foreclosures don’t mean distressed property anymore and can be purchased at a discounted price because the banks need to sell these homes quickly,” added Webb.

Choked by foreclosures, California continues to report some of the largest foreclosure activity in the nation. According to Realtytrac(R), California reported 101,724 foreclosure filings in August, which represents one-third of the national total for that month and the highest of any state.

Homes auctioned by Hudson & Marshall are sold “as-is” and prospective buyers should inspect properties before placing bids. An open house is scheduled for Saturday, October 4th and Sunday, October 5th from 1:00pm-4:00pm. Properties may also be viewed by contacting the listing agent and making an appointment. A complete list of properties and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

Hudson & Marshall will auction the Southern California homes on the following dates:

October 7th - Visalia (7 homes) and Bakersfield (32 homes)

October 8th - San Diego (28 homes) and Palmdale/Lancaster (32 homes)

October 9th - Palm Springs (32 homes) and Victorville (50 homes)

October 11th - Los Angeles/Anaheim (76 homes)

October 12th - Riverside/San Bernardino (157 homes)

Posted: 09|28|08 at 10:47 am. Filed under: US Property.