2010 is the year of the foreclosure
Irvine, CA (Vocus) March 13, 2010
U.S. home foreclosure auction sales are red-hot as Real Estate Disposition, LLC, the nation's leading real estate auction company, rolls into Dallas on Saturday and then Houston on Sunday to auction 100+ fresh foreclosures.
All auctions start at 9:30 a.m. local time and are at Sheraton Dallas and Hilton Houston. For more details, go to REDC’s web site http://www.Auction.com.
The auctions are part of REDC’s record 125 auctions in 71 days. The company has auctioned a U.S.- leading 6,800 properties for $368 million so far this year.
"2010 is the year of the foreclosure," REDC CEO Jeff Frieden says, referring to the three to seven million foreclosures that are hitting the market this year, doubling the number from 2009. "The market is white hot. The demand is there along with the inventory."-
To see all the properties up for auction, go to http://www.Auction.com. The public may register online for the auction.
Here are some of the best deals in the auctions:
6823 Hawks Nest Ct Dallas, TX 75228 – 3174 sq ft, 8 room house previously valued to $325K that has a starting auction bid of $25K;
5869 Dick Price Rd Ft Worth, TX 76140 – 2028 sq ft 9 room house previously valued to $179K that has a starting auction bid of $29K;
339 Mistywood Dr Houston, TX 77090 -- 1623 sq ft 7 room house previously valued to $113K that has a starting auction bid of $19K;
373 Freeport St Houston, TX 77015 -- 1890 sq ft, 7 room house that has a starting auction bid of $19K;
The dismal state of foreclosures in the U.S. is staggering. The State Foreclosure Prevention Working Group, which is made up of state banking regulators and attorneys general, released a report that reports, "Despite efforts of servicers, homeowners, and the government, the foreclosure crisis continues to worsen. These signs point to more foreclosures in 2010 than in 2009."
In response to the millions of foreclosures hitting the market, REDC ramped up operations to auction bank-owned residential homes and condos, commercial buildings and notes in more than 47 states, both in live auctions and online.
Thousands of these foreclosures will change hands through REDC's auctions, which directly impacts the local and national economy by helping to minimize the ramifications of another economic crash. REDC auctions have emerged as a hot new trend in home buying and investing, whether it's residential, commercial real estate or notes.
Since its launch in 1990, REDC has helped tens of thousands of families and individuals purchase homes for affordable prices through its unique auction process, establishing the company as the global leader in real estate auction marketing.
“REDC's real estate auctions have gained tremendous appeal and popularity among buyers and sellers in today’s market,” Frieden says. “In fact, the real estate auction industry now plays a major role in property sales in the U.S. As a result, REDC has helped make auctions a preferred choice over conventional, time-consuming and expensive real estate sales methods.”
REDC also conducts commercial and notes auctions, which can also be reviewed at http://www.Auction.com.
REDC's headquarters are in Irvine, California with offices in Dallas, New York and London.