Tuesday, October 30, 2007

Over 1000 bank owned homes to be auctioned off in Southern California (Nov 3 - 11)

November 3, 2007 - November 4, 2007.

The party starts this Saturday at the Fairplex in Pomona. Here's the link to the 400 REO's that "MUST BE SOLD" from REDC (USHomeAuction.com)

November 07, 2007 - November 11, 2007

Hudson & Marshall: Nearly 600 Southern California Foreclosed Homes Totaling $198 Million Up For Auction
"A souring housing market brimming over with foreclosures and falling home prices translates into sweet news for buyers in search of deals. As property values continue their spiral downward, more owner occupant buyers are turning to foreclosed property auctions to find even greater price reductions. America's largest foreclosed real estate auction firm, Hudson & Marshall will auction nearly 600 foreclosed homes located throughout Los Angeles and the San Bernardino Valley area on November 6-11."

Lenders are now aggressively cutting down on prices but that still doesn't mean you're going to find a bargain. All indicators showing plenty of "growth potential" in California's "As Is" home sales industry, and increased competition in REO's is always a good sign for the consumer - just take a look at California's recent record foreclosure activity.



Anonymous said...

Does anyone know where I can get the sale prices from the Nov 4th auction? I'm curious what they actual sold for.

Anonymous said...

Many of them never did sell. These "must sell" auctions are misleading. Many have reserve prices and are not a true auction where there is a winner. More often than not they revert back to the bank.

Anonymous said...

That Hudson auction only actually sells about 50% of the homes they auction. You need to look for companies that have a high close rate like Williams & Williams or JP King. Both of those companies also have absolute auction which means the high bid is always approved.

Anonymous said...

Are these prices are real in Foreclosures Auction.

Complete Home Foreclosures Listings