In a battered housing market, flooded with inventory and foreclosures, homebuyers can rope in great deals on bank-owned homes. California posted 69,548 foreclosure filings during September, earning it the third highest foreclosure rate in the nation among states, according to Realtytrac(R). Buyers will have the
chance to purchase a variety of foreclosed homes at great values at Hudson & Marshall’s auction of nearly 300 northern California bank-owned homes on November 12th - 16th. About 120 San Francisco area homes will be auctioned.

“During these challenging economic times, it is important to find new homeowners for foreclosed properties to help re-energize the nation’s housing market and auctions are one way to do that. Bank-owned foreclosure auctions offer buyers many choices of property at discounted prices,” remarked Dave Webb, Principal, Hudson & Marshall.

Valued from $35,000 to $500,000, each home comes with guaranteed title insurance paid for by the sellers. 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. Homes are sold “as-is” and buyers should inspect homes prior to auction. Property may be viewed by contacting the listing agents and scheduling an appointment. A complete list of properties and additional information may be found at http://www.hudsonandmarshall.com or by calling 866-539-4172

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

November 12th - Fresno (28 homes); Merced (16 homes)

November 13th - Modesto (17 homes); Salinas (13 homes); Stockton (35 homes)

November 15th - Bay Area (121 homes)

November 16th - Sacramento (44 homes)

Prior to auction, buyers can purchase property online by visiting the website and clicking on the Bid-Now icon. Sellers usually 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.

Having sold over 70,000 homes for sellers in the past eight years, Hudson & Marshall of Texas, 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 $1.2 billion and the company anticipates selling another 30,000 homes through 2009.