278 Texas Homes To Be Sold At Auction Before Christmas

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. That’s 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 435 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.

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

Photo	Location	Tax Appraisal	Home size	Time and Location	Data and Research 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 TXCountyData.com
	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 Real Estate Experts Bexar County Land Auctions Bexar County Appraisal District

Dec-07-08

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