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WASHINGTON (Profitable.com) As soon as they hit the market, foreclosed homes of all sizes and prices are quickly snapped up by buyers because of their irresistible deals. In today’s flat real estate market, buyers can purchase move-in ready homes at significantly reduced prices. Hudson & Marshall will auction nearly 200 banked-owned homes January 25th-29th in the Washington, DC area, Baltimore, Richmond and Norfolk.
“Over the past few years, due to the economic downturn, Hudson & Marshall has seen more move-in ready foreclosures hitting the real estate market. These homes are particularly popular with first-time homebuyers or buyers looking to trade up for a larger home because of their pricing,” said Dave Webb, principal, Hudson & Marshall.
The National Association of Realtors found foreclosures accounted for two-thirds of the distressed sales and sold at an average discount of 15% in November 2010. NAR also reported short sales were discounted 10% in comparison with traditional home sales.
All properties auctioned by Hudson & Marshall come with an insurable title and are sold “as-is,” and buyers should inspect properties before placing any bids. For homes being auctioned in DC, Maryland and Virginia, buyers will be required to make a cash or certified check deposit of $2,500 for each property for which they are the winning bidder.
Homes may be viewed during the open house scheduled January 22nd and January 23rd from 1:00 p.m.-3:00 p.m. or by contacting listing agents to schedule appointments. Complete property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.
Hudson & Marshall will auction the homes on the following dates:
January 25th–Norfolk (52 homes)-7:00 p.m.-Norfolk Marriott Chesapeake
January 26th–Richmond (35 homes)-7:00 p.m.-Hilton Garden Inn Richmond Innsbrook
January 27th–Baltimore (34 homes)-7:00 p.m.-Holiday Inn BWI International Airport
January 29th-Washington, DC area (60 homes)-11:00 a.m.-Sheraton Premiere Tysons Corner
Prior to auction, buyers can purchase property online by visiting the website and clicking on the Bid-Now icon. Sellers typically 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 80,000 homes for sellers in the past ten years, Hudson & Marshall, 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 $3.5 billion and the company anticipates selling another 15,000 homes in 2011.
About Hudson & Marshall of Texas, Inc.
H&M is America’s Premier Auction Authority. Our 45-year history combined with our continued process enhancements have allowed us to become one of the largest and most respected real estate auction firms in the United States. H&M has set the standard as a full service auction company and continues to consistently raise the bar for our industry. Our number one priority is to provide top-quality service to our customers. Buyers know they can count on H&M to provide value and service from the initial property offering through the closing process. This same approach provides sellers with a one stop single solution to the disposition of real estate assets. Sellers particularly appreciate H&M’s streamlined approach that handles their assets from marketing through closing and funding. The H&M process allows the seller to minimize expenses and maximize return. H&M has assisted clients ranging from individuals to large, medium, and small corporations, government agencies, and financial institutions. Since 1999, H&M has sold and closed over 80,000 homes throughout the country. See more about H&M at www.hudsonandmarshall.com.