The Real Estate Disposition Corp. has scheduled a massive auction this weekend for homes that have foreclosed and are in possession of lenders. The event, to be held at the Phoenix Convention Center, will start at 9:30 a.m. Saturday morning; an estimated 450 properties will be up for auction over the course of the two-day event.
Home auctions, both foreclosure auctions and new home auctions, have become increasingly more common over the past six months. Home builders have helped to reduce their inventories by utilizing auctions, and as lenders are repossessing more homes due to the ever increasing rate of foreclosures, they are finding that auctions are an effective method to reduce their real estate owned.
Of course homebuyers are also in favor of buying their next home from auctions too, as they are receiving large discounts for the properties they purchase. One report suggested that homes valued at around $300,000 will have a starting bid of under $100,000.
Learn more about this weekend’s auction in Phoenix and other home auctions across the nation by visiting USHomeAuction.com.
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Auction.com
IRS Real and Personal Property Sales
Great American Home Auctions
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I found your blog on MSN Search. Nice writing. I will check back to read more.
Eric Hundin
Just wanted to say HI. I found your blog a few days ago on Technorati and have been reading it over the past few days.
Eric and Tony,
Thank you for stopping by. I am glad that you have both came to visit.
All I am inspecting now in southern california now are foreclosures and REO’s and short sales, they have consumed the market and it will take a few years for this to clear up. Too many people bought homes they couldn’t afford, the banks lended too much money to people that couldn’t afford them, and now you have a market that has crashed in value. Its a deadly bubble that was due to happen. I thought my home inspection business was going to dive, but now everyone that was standing on the sidelines are now buying homes at once again reasonable prices. It was a market correction, that’s all. Just like all things, what goes up must come down!
I do advise all of you, whatever property you purchase make sure you have a comprehensive home inspection performed. Everything from foundation, roofs, electrical, plumbing, heating and AC should be checked by a reputable company. And Find your own inspector! Don’t always trust your agent’s referral guy. Make sure you see a sample of an inspection report first before hiring your inspector.
This is a good advantage for many of us,to have an opportunity to buy a home for half the value or even more then half. With the market at a down fall many homes are on the market for foreclosure.
All I am inspecting now in southern california now are foreclosures and REO’s and short sales, they have consumed the market and it will take a few years for this to clear up. Too many people bought homes they couldn’t afford, the banks lended too much money to people that couldn’t afford them, and now you have a market that has crashed in value. Its a deadly bubble that was due to happen. I thought my home inspection business was going to dive, but now everyone that was standing on the sidelines are now buying homes at once again reasonable prices. It was a market correction, that’s all. Just like all things, what goes up must come down!
Are mass auctions like this held regularly? I find it awesome knowing that there’s a property worth 300k having a start bid of 100k, hopefully I can join one day.
Hello…Too many people bought homes they couldn’t afford, the banks lended too much money to people that couldn’t afford them, and now you have a market that has crashed in value. Thanks for such wonderful blog..It sounds good
If you are buying a house please be smart and don’t end up in foreclosure like so many have before. How ironic would it be for someone to purchase a foreclosure only to do the same thing. I have a free Foreclosure Credit Repair blog that has tons of info on it if any of you need to know more about that topic.
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ya Home auctions, both foreclosure auctions and new home auctions, have become increasingly more common over the past six months……. Most people desire to buy their home by consulting real estate owners…. Because real estate owners know the many best place to buy the houses……
Too many people bought homes they couldn’t afford, the banks lended too much money to people that couldn’t afford them..Today everyone has the dream to buy home at a reasonable prices… It was a market correction, that’s all. Just like all things, what goes up must come down!
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Too many people bought homes they couldn’t afford, the banks lended too much money to people that couldn’t afford them, and now you have a market that has crashed in value. Its a deadly bubble that was due to happen. I thought my home inspection business was going to dive, but now everyone that was standing on the sidelines are now buying homes at once again reasonable prices. It was a market correction, that’s all. Just like all things, what goes up must come down!
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Phoenix is a good place to live, if you can find a good home for a nice price I’d say go for it, even if we are in this foreclosure crisis right now.
Too many people bought homes they couldn’t afford, the banks tended too much money to people that couldn’t afford them, and now you have a market that has crashed in value. I do advise all of you, whatever property you purchase make sure you have a comprehensive home inspection performed. Most people desire to buy their home by consulting real estate owners
This run on property prices isn't going to last forever so its best to get in now while its still good.
Nice post…The Real Estate Disposition Corp. has scheduled a massive auction for homes that have foreclosed and are in possession of lenders…It is better to get idea from the real estate owner because they know the land value and complete background about it….