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America's Foreclosure Epidemic

 

Tragedy for Some, Opportunity for Others

278 Texas Homes To Be Sold At Auction Before Christmas

Just in time for Christmas, hundreds of foreclosed homes in Texas are scheduled to be sold at public auction before the season ends.

From a cozy 483 square foot cottage in Poteet to a lavish 6400 square foot, 5-bedroom, 4-bath mansion in Dallas, lenders intend to liquidate 278 properties at public auction between December 15 and December 21.

According to Hudson & Marshall, an auctioneering firm that specializes in foreclosed properties. Banks are overwhelmed with the prospect of selling an avalanche of foreclosed properties. The firm has already sold and closed over 70,000 bank-owned homes nationwide. Lenders are turning to auction houses to quickly rid themselves of unwanted inventories. Thatís good news for first time homeowners and investors who may have been locked out of the best deals during the boom years.

With the foreclosure crises now in full bloom, lending institutions and savvy investors are increasingly turning to auction houses, both on and offline. The largest online auction house in the world, eBay, currently taking bids on 764 foreclosure related auctions nationwide. The online auction giant lists a total of 382 Texas properties at auction of which 44 are foreclosure related. Current bids range from $511 for a scenic lot near the Trinity River to $625,000 for a waterfront home in Austin. Incredibly eBay auctioned off an entire Texas town in February 2008.

The Texas auctions that Hudson & Marshall have scheduled for the days leading up to Christmas include sales in over 100 locations across the state. Auction locations with the largest number of properties to be sold are: Houston (50), San Antonio (23), Dallas (21), Fort Worth (10), Spring (10), Cedar Hill (8), and Mesquite (6). People interested in bidding can also place sealed bids online.

Foreclosed property auctions like eBay and Hudson & Marshall make it easier than ever before for first time homebuyers and investors to purchase homes at a discount because sellers are anxious to get non-performing loans off their books.

"Buyers who were pushed to the sidelines of the real estate market several years ago because of escalating home prices, now have a chance to jump in the market," said Dave Webb, principal Hudson & Marshall.

Dec-07-08

10 of 111 Properties to Be Auctioned December 15 - 21 2008

Photo

Location

Appraisal

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 Time and Location

Data Resources

8543 FM 476 West Poteet, TX 78065

Atascosa County

$ 34,070 

483 Sq Ft

1 Bedroom 1 Bath

December 16, 7:00pm

Embassy Suites San Antonio

TX Home and Lifestyle Auctions

Atascosa County Property Experts

3415 Avenue L
Galveston, TX 77550

Galveston County

$ 50,450

1156 sq ft

3 bedroom 1 bath

December 20, 1:00pm

Hilton Houston Westchase

Galveston County Property Experts

Galveston County Appraisal District

5387 De Soto St
Houston, TX 77091

Harris County

$ 213,631

5,473 sq ft

4-unit apartment,

9 bedroom 5 bath

December 20, 1:00pm

Hilton Houston Westchase

Harris County Property Experts

Harris County Property Auctions

Harris County Appraisal District

9520 Seawall Boulevard, Unit 136 Galveston, TX 77554

Galveston County

$ 90,000

521 sq ft Condo

1 Bedroom 1 Bath

December 20, 1:00pm

Hilton Houston Westchase

 

Galveston County Property Experts

Galveston County Appraisal District

3330 South Sutton Square
Stafford, TX 77477

Ft Bend County

$ 196,740

2653 sq ft

4 bedroom 2.5 bath

December 20, 1:00pm

Hilton Houston Westchase

Texas Home and Lifestyle Auctions

Fort Bend County Property Experts

Fort Bend County Appraisal District

6834 Prairie Flower Trail
Dallas, TX 75227

Dallas County

$ 324,200 3749 sq ft

4 bedroom 3.5 bath

December 21, 1:00 PM
DFW Airport Marriott North

Dallas County Land Auctions

Dallas County Property Experts

Dallas County Appraisal District

538 Rebecca Drive
Cedar Hill, TX 75104

Dallas County

$ 164,370 1442 sq ft

2 bedroom 2 bath

December 21, 1:00 PM
DFW Airport Marriott North

Dallas County Land Auctions

Dallas County Property Experts

Dallas County Appraisal District

 

1505 Austin St.
Levelland, TX 79336

Hockley County

$48,510 1612 sq ft

2 bed, 1 bath

Submit all offers online via Bid Now

Texas Home and Lifestyle Auctions

Hockley County Appraisal District

Hockley County Property Experts

1815 South Jennings Avenue
Fort Worth, TX 76110

Tarrant County

$240,000

2968 sq ft

8 bedroom six bath Multi-Family Complex

December 21, 1:00 PM
DFW Airport Marriott North

Tarrant County Land Auctions

Texas Home and Lifestyle Auctions

Tarrant County Appraisal District

117 Buford
San Antonio, TX 78202

Bexar County

$32,770 780 sq ft two bedroom one bath

December 16, 7:00 PM

Embassy Suites San Antonio

Bexar County Experts

Bexar County Land Auctions

Bexar County Appraisal District

 

 

 

 

  

 

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