Bonanza of Deals Await Buyers at Auction of 250 Plus Texas Homes

DALLAS, June 12 /PRNewswire-USNewswire/ -- Investors and first time homebuyers looking to cash in on a weak housing market can find a bonanza of deals awaiting them at real estate auctions. America's largest auction firm of foreclosed property, Hudson & Marshall, will auction 250 foreclosed Texas homes on June 18-24 at cities throughout the state. Owned by national lenders, the homes are valued from $25,000 to over $500,000 and come guaranteed with title insurance.

"We have properties for every type of buyer in this auction, from the seasoned investor to the first time homebuyer. Some properties are move-in- ready condition while others are in need of substantial fixing up. The bottom line is buyers can find some good deals on homes because sellers are motivated to quickly dispose of these properties to avoid the long-term carrying costs of bad debt," said Dave Webb, principal, Hudson & Marshall.

With the continued tidal wave of homes for sale, surging foreclosures, and low interest rates, now is the time to buy property. According to Realtytrac(R), Texas reported 11,424 foreclosure filings in April. Foreclosed property doesn't mean distressed property. It means a lender has repossessed a home because the owner has defaulted on the mortgage.

Purchasing a foreclosed home through the auction method offers buyers an opportunity not only to buy a home at a significant discount but also make the purchase through a hassle free process. Negotiations and contingency clauses in contracts, which can delay real estate closings, are removed from the process. The auction occurs on a specific time and day and homes and Hudson & Marshall closes all sales in 30 days.

Hudson & Marshall, the country's largest real estate auction firm of foreclosed properties, will sell the 200 plus Texas homes in cities throughout the state on the following days: June 18 in Corpus Christi; June 19 in the Rio Grande Valley Area; June 20 in San Antonio; June 21 in Round Rock and Tyler; June 23 in Houston; and June 24 in Dallas.

Winning bidders will be required to make a payment of 5% of the selling price or $2500, whichever is greater, which can be paid with a personal check or cash. Interested buyers are strongly urged to inspect all homes prior to auction because properties are sold "as is." Prospective buyers can preview properties online at http://www.hudsonandmarshall.com/ and attend the open house scheduled for June 14 and 15.

Speeding up the buying process even more, buyers can also submit bids for properties prior to auction using Hudson & Marshall's easy Bid Now program available on its website. Buyers submit bids through the company's website and usually receive a response from sellers within 24 hours. Nearly 20%-30% of properties sell prior to auction through the Bid Now program.

In the last eight years, Hudson & Marshall has sold over 40,000 foreclosed homes for national lenders and asset management companies, making the company an expert in moving large volumes of property with speed. Using an aggressive marketing strategy, Hudson & Marshall ensures properties get maximum exposure prior to auction to generate consumer interest in the sale. From beginning to end, the company accelerates the selling process to benefit both the buyer and the seller.

About Hudson & Marshall of Texas Inc.

H&M is America's Premier Auction Authority. Our 38-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. Recently, H&M has sold and closed over 40,000 homes throughout the country. See more about H&M at http://www.hudsonandmarshall.com/.

Contact: Crystal Wright

202/829-0848