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REDC Sells 700+ Foreclosed Homes in Arizona and Minnesota

""Real Estate Disposition Corporation, LLC"":http://www.ushomeauction.com (REDC), a national real estate auction company, recently announced that it sold 713 homes for $68.3 million at its auctions in Arizona and Minnesota.
Those auction results bring REDC's 2008 production to 16,454 foreclosed homes sold for $2.63 billion, the company said, tripling the numbers from 2007 when REDC sold 4,103 foreclosed homes for $920 million. According to REDC, they are the first real estate auction company in history to hit the $1 billion mark in sales in one year.
""Consumers walked away with incredible deals in Arizona and Minnesota,"" said Jeffrey Frieden, CEO of REDC. ""People were buying gorgeous 3,000 square foot homes for $120,000 - homes that were previously valued three times more.
""The foreclosed home auction real estate market is simply red hot right now. The banks and lenders who own these foreclosed homes are very motivated to sell these properties; you won't find more motivated sellers. When you combine that with today's low prices and low interest rates, what you have is a 'perfect storm' for home buyers to buy homes,"" Frieden added.
With the enormous number of foreclosed homes available nationwide, the banks and lenders who own them are pulling out all the stops to get the properties off the books and back into private hands, REDC said in a press statement. According to Frieden, auctions are becoming the preferred sales method.
""We offer a great opportunity for people to take advantage of finding their dream home in today's real estate market while interest rates are still very low,"" Frieden said. ""We have financing right at the event with down payments as low as 5 percent. If people are looking to take advantage of today's market, we encourage them to view the homes at our website, attend the open house, pre-qualify for free through our national lenders, and attend the auctions.""
Frieden said that auctions are gaining in popularity because they are the only way to buy real estate where the pricing starts at the bottom and works its way up. An auction is a buying alternative where you can set your own price rather than negotiating down from a seller's unrealistic asking price, Frieden explained.
For more information about REDC, including a schedule of upcoming auctions, ""click here"":http://www.ushomeauction.com.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.

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