With bank-owned inventories expanding rapidly, even government agencies are looking for new ways to quickly get foreclosed properties back into the hands of responsible homeowners. For the first time in recent years, ""HUD"":http://www.hud.gov is planning to sell over 150 foreclosed homes through auction.
The auction will take place March 26th at the JW Marriott Desert Ridge in Phoenix, and will be conducted by the real estate auction firm ""Hudson & Marshall"":http://www.hudsonandmarshall.com.
Designed to help more low- to moderate-income individuals and families achieve homeownership, the properties will be auctioned only to owner-occupant buyers who plan to live in the homes as their primary residence for at least a year.
""Foreclosed auctions offering HUD homes are ideal for homebuyers looking to upgrade to larger properties to accommodate their growing families or individuals relocating to the Phoenix area for jobs,"" remarked Dave[COLUMN_BREAK]
Webb, principal, Hudson & Marshall. ""Not only do auctions of foreclosed homes help buyers grab great deals but they also help raise property values by putting new homeowners into the properties.""
Prior to the auction of HUD homes, to help prepare homebuyers for the auction process, Hudson & Marshall will hold two free Auction Education Seminars. The seminars will review basic tips on successful bidding and what important documents buyers should bring with them the day of the auction. Auction seminars will be held March 16th and 22nd at the JW Marriott Desert Ridge.
Qualified buyers may receive special Federal Housing Administration (FHA) $100 down homebuyer financing and up to 3 percent in closing costs paid by HUD. The federal agency will also pay a 3 percent selling agent commission to qualified brokers who are registered with HUD.
Homes can be viewed during the open house scheduled Saturday, March 19th and Sunday, March 20th, or by contacting listing agents to schedule appointments.
Complete property details and additional information can be found on the ""Hudson & Marshall Web site"":http://www.hudsonandmarshall.com/AuctionSale/HUDReferral/3998.aspx?utm_source=HUDsite&utm_medium=banner&utm_campaign=PhoenixHomeAuctionHUDReferrel
Hudson & Marshall has sold over 80,000 foreclosed homes in the past 10 years. The company says its 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.