Housing bubble firesales are gaining in popularity among buyers and sellers as a quick and easy way to dispose of property in a crashing market. Hudson & Marshall - America's largest real estate auction firm - are doing a roaring busisness. On April 21, the company will auction nearly 50 foreclosed homes in Denver. The homes, now owned by national lenders and asset management companies, are valued from $25,000 to over $500,000.
House auctions are becoming the preferred way for mortgage lenders to quickly dump unwanted properties. In Colorado, it is boomtime for the foreclosure business. According to Realtytrac, in February, the state suffered one foreclosure filing for every 345 households, making the state's foreclosure rate the second highest in the nation. In February alone, Colorado reported a total of 5,310 foreclosures.
All properties available on April 21st are sold "as is". Interested buyers are encouraged not to bid on any home they haven't seen. Buyers can view an entire list of properties online at http://www.hudsonandmarshall.com/
House auctions are becoming the preferred way for mortgage lenders to quickly dump unwanted properties. In Colorado, it is boomtime for the foreclosure business. According to Realtytrac, in February, the state suffered one foreclosure filing for every 345 households, making the state's foreclosure rate the second highest in the nation. In February alone, Colorado reported a total of 5,310 foreclosures.
All properties available on April 21st are sold "as is". Interested buyers are encouraged not to bid on any home they haven't seen. Buyers can view an entire list of properties online at http://www.hudsonandmarshall.com/
It is boom time for vultures.
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