Foreclosure Auction of Over 80 Homes Blazes Through Sunshine State

Hudson & Marshall Will Auction these Bank-Owned Homes November 2nd-5th in Cities Throughout Florida

MIAMI, Oct. 29 /PRNewswire-USNewswire/ -- Home sales are on the upswing but foreclosures continue to saturate markets like Florida, driving down prices even further. Buyers remain enthusiastic about purchasing real estate owned (REO) property because they can get great homes at bargain prices. America's leading foreclosure auction firm, Hudson & Marshall, will auction over 80 bank-owned homes November 2nd-5th in Miami, Tampa, Orlando, Fort Myers, Ft. Pierce, Jacksonville and Panama City.

Valued from $12,000 to $475,000, each home comes with title insurance paid for by the sellers. Buyers will be required to make a cash or certified check deposit of $3,000 for each property of which they are the winning bidder.

"The foreclosures infiltrating today's housing market offer choices for every type of buyer -- investor, first-time homebuyers and those looking to trade up," said Dave Webb, principal, Hudson & Marshall. "While I don't think we've seen the end of the foreclosure crisis, the market is nearing a bottom and these discounts won't stay around forever," added Webb.

According to the National Association of Realtors (NAR), in September home sales climbed to their highest level in two years, rising 9.4% from 5.09 million in August to 5.57 million in September. NAR also found distressed properties, foreclosures and short sales accounted for 29% of the home sales in September. Historically low interest rates, tumbling prices and the first time homebuyer tax credit have been propelling recent gains.

Properties are sold "as-is" and buyers should inspect homes before placing any bids. Buyers may view homes during the open house scheduled October 31st and November 1st from 1:00 pm-3:00 pm or by contact listing agents to make appointments. 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:
November 2nd( )-- Panama City (6 homes)
November 3rd -- Jacksonville (12 homes)
November 4th -- Ft. Pierce (9 homes)
November 4th -- Miami/Ft. Lauderdale (13 homes)
November 4th -- Orlando (17 homes)
November 5th -- Fort Myers (9 homes)
November 5th -- Tampa (16 homes)

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 nine 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 2010.

About Hudson & Marshall of Texas, Inc.
H&M is America's Premier Auction Authority. Our 40-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. Recently, H&M has sold and closed over 80,000 homes throughout the country. See more about H&M at www.hudsonandmarshall.com.

Crystal Wright, Baker Wright Group