Several hundreds of real estate-owned properties in the Southwest are up for auction and, according to auction house Hudson & Marshall, that volume will be meeting equal demand. The firm is auctioning off more than 700 homes in Arizona, California and Nevada over the next two weeks. “The surge in foreclosure inventory in states like Arizona has driven up consumer interest in attending our auction,” David Webb, a principal at Hudson & Marshall said. “We’re seeing larger crowds of buyers at our auctions looking for bank-owned homes because they feel the homes are a great value for the money whether they need improvements or are in move-in ready condition.” More than 10 of the hardest hit metropolitan housing markets are in California, Nevada and Arizona, according to data by RealtyTrac. The Husdon & Marshall auction schedule is as follows: Feb. 8: 14 homes in the Los Angeles area will be up for auction. Feb. 9: 71 homes available for purchase around the Tucson Ariz. metropolitan area, 19 around Fresno, Calif., and four around Bakersfield, Calif. Feb. 10: 26 homes around the Las Vegas metro, eight around Salinas, Calif., 45 homes in the Riverside-San Bernardino-Palm Springs metro and 18 around Stockton, Calif. available for purchase Feb. 12: 223 homes in the Phoenix area and 35 homes around the Bay area in California will be available for purchase Feb. 13: 214 homes in the Phoenix area and 44 homes around Sacramento are available for purchase. All properties auctioned by Hudson & Marshall are sold as-is to the highest bidder. All homes are listed between $54,900 and $400,000. Buyers are required to make a minimum $2,500 down payment and all deals are expected to close within 30 to 45 days. Write to Christine Ricciardi. Follow her on Twitter @HWnewbieCR.

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