Massive Auction of 400 Foreclosed Homes Hits Phoenix February 12th and 13th

Hudson & Marshall Will Auction Variety of Homes Valued from $54,900 to over $400,000

PHOENIX, Feb. 4, 2011 /PRNewswire-USNewswire/ -- Home prices continue to fall in states like Arizona where the real estate market is brimming over in foreclosures, giving buyers an opportunity to catch deals on properties. According to the S&P/Case Shiller Home Price Indices, as of November 2010, Phoenix home prices have dropped 53.9% from their peak in June 2006. Hudson & Marshall will auction over 400 bank-owned homes February 12th and 13th at 1:00 p.m. at the Pointe Hilton Squaw Peak Resort.

"The surge in foreclosure inventory in states like Arizona has driven up consumer interest in attending our auctions. 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," remarked Dave Webb, principal, Hudson & Marshall.

Buyers will be required to make a $2,500 cash or certified check deposit for each property for which they are the winning bidder. Homes come with an insurable title and all sales will close within 30-45 days. Buyers may secure financing with the lender of their choice prior to closing; however, closing is not contingent upon financing.

All properties auctioned by Hudson & Marshall are sold "as-is" and buyers should inspect properties before placing any bids. Homes can be viewed during the open house scheduled Saturday, February 5th from 1:00 p.m.-3:00 p.m. or by contacting listing agents to schedule appointments. Complete property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

Interested buyers should take advantage of some helpful tips before they attend any auction. Buyers should view properties beforehand to see the neighborhoods and conditions properties are in to determine how much the homes are worth to them. It is also a good idea for buyers to read the terms and conditions of the auction carefully to ensure they understand the requirements for purchase and closing. Finally, it is always a good idea for buyers to secure their financing before attending an auction so they know how much they can afford to bid on a home.

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 80,000 homes for sellers in the past ten years, Hudson & Marshall, 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 $3.5 billion and the company anticipates selling another 15,000 homes in 2011.

About Hudson & Marshall of Texas, Inc.

H&M is America's Premier Auction Authority. Our 45-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. Since 1999, H&M has sold and closed over 80,000 homes throughout the country. See more about H&M at www.hudsonandmarshall.com.

SOURCE Hudson & Marshall of Texas, Inc.