The market is white hot. The demand is there along with the inventory.
Irvine, CA (Vocus) March 27, 2010
$1M Foreclosed Weston MA House Among 60+ Foreclosures to be Auctioned Saturday 9:30 AM at Renaissance Boston Waterfront Hotel by REDC
Irvine, Calif. -- A $1M foreclosed Weston, Mass. house is among 60+ foreclosures that will be auctioned Saturday March 27 at Renaissance Boston Waterfront Hotel by Real Estate Disposition, the nation's leading real estate auction company.
The Weston property is at 193 Boston Post Rd is a 4,900 square foot 14-room property. Here is a link to the property -- http://www.auction.com/property.php?auctionID=H-152&itemID=178249&venueId=1057&start=0&flgRemoved=0&flgEscrowed=0.
"This is a great opportunity for a homebuyer or investor to purchase a beautiful property in a highly deserable part of the state and country," says REDC CEO Jeff Frieden.
Here are some of the other best potential deals in the auction:
300 Raleigh Tavern Ln North Andover, MA 01845 -- 3219 sq ft 10-room property previously valued at $700K that has a starting bid of $119K (http://www.auction.com/property.php?auctionID=H-152&start=0&itemID=178250&srch=&flgRemoved=0&flgEscrowed=0).
2 Village Ln South Hamilton, MA 01982 -- 1776 sq st 6 room house previously valued to $415K, starting bid $99K (http://www.auction.com/property.php?auctionID=H-152&start=0&itemID=176507&srch=&flgRemoved=0&flgEscrowed=0).
To see all the properties, go to REDC's web site, http://www.Auction.com.
The auction is part of REDC’s record 125 auctions in 71 days. The company has auctioned a U.S.- leading 7,350 properties for $415 million so far this year.
"2010 is the year of the foreclosure," 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."-
The dismal state of foreclosures in New England and 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.