Over 400 Foreclosed Homes in Ohio and Pennsylvania Up for Auction

As foreclosures continue proliferating across the country, buyer demand for these properties is also growing because they can be purchased at a discount. For buyers who were shut out of the housing market during the boom years of escalating home prices, foreclosures make homebuying affordable. Real estate auction firm Hudson & Marshall will auction over 400 bank-owned foreclosures in cities throughout Ohio and Pennsylvania April 20th - 26th. About 80 homes will be auctioned in Cleveland on April 25th.

According to RealtyTrac, foreclosure filings nationwide ballooned to 341,180 in March 2009, jumping 45% from a year ago. Ohio reported 12,611 filings in March, ranking 11th with its foreclosure rate, one of the highest among the states. Pennsylvania reported a total of 4,943 foreclosure filings for the month, earning it the 32nd spot.

"Over the past two years, we've seen the crowds steadily increase at our bank-owned foreclosure auctions because people have begun to realize they can get purchase property quickly at a great value," said Dave Webb, principal, Hudson & Marshall. "Because auctions sell large volumes of property at one time, we're able to help cities reduce the number of vacant homes dragging down property values and bringing blight to neighborhoods," added Webb.

The homes up for auction come with a clean, insurable title paid for by the sellers. Buyers will be required to make a $1,000 deposit with a certified check or cash on each property on which they are the winning bidder. Before the auction, buyers should try to get pre-approved for a loan so they know how much they can bid on a property.

All homes being auctioned by Hudson & Marshall are sold "as-is" and buyers should inspect properties before placing any bids. Buyers may contact listing agents to make appointments to view homes. Complete property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

Homes will be auctioned on the following dates:

April 20th - Cincinnati (32 homes) at 7:00pm-Cincinnati Marriott Northeast

April 20th - Chillicothe, OH (6 homes) at 1:00pm-Comfort Inn Chillicothe

April 20th - Mansfield, OH (11 homes) at 1:00pm-Holiday Inn Hotel & Suites, Mansfield

April 21st - Toledo (38 homes) at 7:00pm-Hilton Garden Inn (38 homes)

April 21st - Dayton (47 homes) at 1:00pm-Dayton Marriott

April 21st - Stroudsburg/Scranton (22 homes) at 7:30pm-Hilton Scranton & Conf. Center

April 21st - Philadelphia (19 homes) at 1:00pm-Hilton Garden Inn-Philadelphia/Ft. Washington

April 22nd - Columbus (35 homes) at 7:00pm-Columbus Airport Marriott

April 22nd - York, PA (11 homes) at 7:00pm)-Holiday Inn Harrisburg

April 23rd - Pittsburgh (34 homes) at 7:00pm-Pittsburgh Airport Marriott

April 24th - Youngstown (30 homes) at 1:00pm-Holiday Inn Youngstown South

April 25th - Cleveland (81 homes) at 1:00pm-Cleveland Airport Marriott

April 26th - Canton/Akron (47 homes) at 1:00pm-McKinley Grand Hotel

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 70,000 homes for sellers in the past eight years, Hudson & Marshall of Texas, 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 $1.2 billion and the company anticipates selling another 30,000 homes through 2009.

Fort Lauderdale Blog to Feature "Deal of the Week" Program

One of the top real estate blogs in the industry today will provide a great guide on the best foreclosed deals in the property industry as featured on their site. Beginning this week, the Fort Lauderdale Real Estate Blog will feature the best foreclosure deals on the market in its "Deal of the Week" program.

The Fort Lauderdale Real Estate Blog is a top-rated real estate website operated by Robin Sing-Cunningham, a Fort Lauderdale-based Realtor who specializes in foreclosures and short sales.

The "Deal of the Week" promotion will feature foreclosed homes for sale that may be purchased at a substantial discount - some at prices 25-40% or more below market value.

The program will provide Buyers with property information including pictures and videos. An interesting feature that Buyers will like is the offer strategy section where local experts tell you how they would structure an offer on the home.

"Buyers are always asking me how to find the best deals and how to structure an offer. In this great Buyer's market, we are providing a platform for Buyers to see the best deals and to see how local real estate experts would put the deal together," said Sing-Cunningham.

South Florida is a Buyer's paradise. With nearly 60% of the homes sold in the area being in some stage of foreclosure, it's actually a very competitive market. However, most Buyers who are interested in a foreclosure never see the best deals.

"Many agents got caught with their pants down when the foreclosure tsunami hit," said Barry Johnson of Real Estate Radio USA, a top-ranked real estate talk show and industry blog.

"When Robin approached us about helping with this promotion we felt it was a no-brainer as our listeners and readers always ask us how to find the best deals," Johnson added.

A big incentive for participating in the "Deal Of The Week" promotion are the cash and prizes. If a Buyer purchases any of the homes featured they will receive a minimum of $1,500.00 at closing as a rebate on their purchase. They may also receive various prizes ranging from dinners at exclusive restaurants, to sport fishing trips to Caribbean vacations.

"I haven't seen many agents offering these types of incentives and I wondered why? This is a Buyer's market and we have to show these Buyers that we appreciate and want their business. To me, it's all about separating yourself from the pack and offering unparalleled customer service," said Sing-Cunningham.

In an effort to make sure that each Buyer receives high-quality customer service, Sing-Cunningham has assembled a team of real estate professionals to provide any Buyer with complete peace of mind.

Erik Wesoloski, a Miami-based attorney with the law firm of Wesoloski Carlson, P.A, who specializes in foreclosures, says that this is an idea whose time has come. "Most agents don't have the expertise to help a Buyer navigate their way through the possible land mines associated with buying foreclosures.

"There may be hidden problems that can cause a deal to fail or a Buyer to incur certain liabilities. We are happy to be a part of Robin's team to make sure that her Buyers don't have any problems with their purchase."

If you would like to view the Fort Lauderdale Real Estate market "Deal of the Week", simply go to the Fort Lauderdale Real Estate Blog at http://www.robinashley.com and check it out.

Source

BigBidders.com Sells Real Estate Backed Notes

It seems like a different approach but if it works and promises business, then why not? As institutions desperately search for a solution to effectively sell their toxic assets and maintain critical liquidity, the first-ever online auction marketplace of individual Notes, BigBidder.com, boldly enters the scene.

Developed by the LFC Group of Companies, BigBidder.com spent two years in development led by a stellar team of mortgage industry professionals who recognized that the liquidity crunch in the secondary markets offered an opportunity to provide sellers with more control over their transactions, sales velocity, and better prices.

“Since launching, sellers have enthusiastically welcomed our site,” says LFC Senior Vice President of BigBidder.com Paul Lyons. “The idea of selling to an increased pool of buyers, avoiding the usually long, tedious and costly sales process and getting better prices has them commenting, ‘This is exactly what I needed.’”

BigBidder.com, an unconventional business model for buying and selling Notes, allows individual investors and smaller investment groups access to specific information and supporting due diligence documents prior to purchase, eliminating the all-too-common “due diligence kick out.”

BigBidder.com is a powerful business tool that gives sellers complete control over their transactions by allowing them to name own terms of sale and minimum sales prices on a Note-by-Note basis, and receive valuable market feedback through the transparent bidding activity.

(Source) BusinessWire