We're very pleased with the results from the auction
Irvine, CA (Vocus) July 28, 2010
The millions of dollars spent this year on NoCal foreclosures has increased by $23.5 million in the last 48 hours as REDC, the nation's leading real estate auction company, auctioned 250 foreclosures before combined crowds of 655 at Sacramento and Santa Clara Convention Centers Sunday and Monday.
Nearly $100 million has been spent in NoCal this year at REDC foreclosure auctions.
Deals of Day:
1147 Palou Ave San Francisco, CA 94124 sold for $241,500 – 63% less than its previous high value of $645,000;
101 Del Verde Cir #1 Sacramento, CA 95833 sold for $32,500 – 86% less than its previous high value of $223,500;
5420 Wadean Pl Oakland, CA 94601 sold for $133,875 – 76% less than its previous high value of $401,800;
1660 Grand Ave Sacramento, CA 95838 sold for $37,500 – 84% less than its previous high value of $225K;
2205 Ashby Ave Berkley, CA 94705 sold for $315,000 – 57% less than its previous high value of $725K;
700 Norwich Ct Sacramento, CA 95833 sold for $50,000 – 77% less than its previous high value of $211,300K;
For more Deals of the Day, contact Rick Weinberg, rickw(at)redcgroup(dot)com, 949-648-3815.
"We're very pleased with the results from the auction,” says REDC CEO Jeff Frieden. “First-time homeowners and investors walked away with some incredible bargains. The auctions are a big boost to the local economy. After all, when a house sits vacant, no one is paying a mortgage, property taxes, nor gas, electric and water bills -- all of which hurts the local and national economy. But when REDC turns a foreclosure back into a home, a new family is paying a mortgage, property taxes, gas, electric and water bills, and they're creating jobs by hiring landscapers, painters and electricians - all of which fuels the economy."
Overall this year, REDC has auctioned more than 20,000 properties for nearly $900 million.
This was the 18th auction REDC has conducted involving NoCal foreclosures this year. Tonight’s NoCal auction is at Fresno Convention Center at 6:30 p.m. followed by the campaign finale at Modesto DoubleTree Hotel Wed. at 6:30 p.m.
Rick Weinberg| Public Relations
Real Estate Disposition LLC| rickw(at)REDCgroup(dot)com
Direct/Fax: (949) 639-3558 / Mobile: (949) 648-3815