Foreclosure Auction Hits Detroit; 700 Homes on the Block

Buyers seeking deals on homes in today’s chilled housing market will find what one firm is touting as an “incredible buying opportunity” at their five-day auction of Detroit area foreclosure homes. Nearly 700 bank-owned foreclosures will be auctioned off by real estate auction firm Hudson & Marshall on March 25th-30th. “There is a glut of homes for sale in Detroit due to job losses and the city’s high rate of foreclosures. As a result, home prices are continuing to fall, making it a great time to purchase a home,” said Dave Webb, principal, Hudson & Marshall. “Bank-owned foreclosure auctions are a great way for buyers to find exceptional values on homes because lenders are anxious to unload loans costing them money.” Webb said that real estate auctions create a level playing field among buyers who decide what a property is worth on that particular day and time. Moreover, in today’s depressed housing marketing, massive foreclosure auctions like those held by Hudson & Marshall help improve communities by putting new owners into empty homes. All homes are sold “as-is” and prospective buyers should preview all properties prior to placing bids, the company said in a press statement. For more information, including locations and time, please visit http://www.hudsonandmarshall.com.