""Hudson & Marshall"":http://www.hudsonandmarshall.com conducted an REO auction event for HUD in Las Vegas earlier this month targeting owner-occupants. The result? There are now more than 100 new owners of homes throughout both Nevada and Arizona that were previously sitting idle and vacant as part of the government's foreclosed inventory.[IMAGE]
Hudson & Marshall conducted the auction in conjunction with ""BLB Resources"":http://www.blbresources.com/, a woman-owned small business headquartered in Irvine, California, whose two principals together have over 56 years of experience selling and marketing HUD REO homes.
The Las Vegas event was the culmination of a five-week aggressive marketing campaign designed to inform potential buyers of the opportunity, encourage them to preview the available properties, and educate them on the auction process through live seminars and a webinar.[COLUMN_BREAK]
Hudson & Marshall says the educational seminars provided potential owner occupants with the knowledge they needed to be successful purchasers, a platform to ask questions, and the chance to experience a mock auction leading up to the live event.
The company conducted the standing room only event at the JW Marriott Las Vegas Resort & Spa in Summerlin on November 5th, which featured approximately 70 properties in the Las Vegas area that were offered exclusively to owner occupants. An additional 40 properties in Nevada and Arizona were offered with the assistance of simulcast bidding.
As added incentive, HUD offered special $100 down financing through the Federal Housing Administration (FHA) to qualified owner-occupants, as well as 3 percent in closing costs to all successful buyers. As a result 96 percent of all high bid offers were accepted on auction day.
Dave Webb, principal of Hudson & Marshall, was pleased with the event's outcome. ""We are excited to be able to once again work with HUD to assist the agency in its efforts to provide quality affordable homes to all,"" Webb said.
Hudson & Marshall explained that its auction process is a proven method for sellers to quickly move substantial amounts of inventory while ensuring an easy transition for buyers to become homeowners.
Hudson & Marshall has sold over 80,000 REO homes for sellers in the past 10 years. Over the past five years alone, the company's total sales have topped $3.5 billion.