More Homebuyers Turning to RE Auctions

As the housing swoon continues and foreclosures climb, more buyers are turning to real estate auctions to find good deals, according to Hudson & Marshall, a Dallas-based firm that will auction over 400 Northern California homes on July 17-22.Valued from $100,000 to more than $800,000, the homes come with guaranteed title insurance paid by the seller, ensuring that all properties are free of any back taxes or liens, the real estate auction firm said. Citing data from the National Auctioneers Association, H&M said the fastest growing sector of the $257.2 billion auction industry is residential real estate auctions, which jumped 12.5% in 2006. "It's not unusual for some properties to sell at auction for 70%-80% of their list price," said Dave Webb, an H&M principal. "This is truly a buying opportunity not to be missed." H&M can be found online at http://www.hudsonandmarshall.com.