Sales of bank-owned homes are increasing in foreclosure-laden states like California, as buyers realize these properties can be purchased at steep discounts. Because foreclosures continue to spike across the country, lenders are eager to quickly move these homes off their books and sell them at reduced prices. Hudson & Marshall will auction nearly 70 foreclosed homes at various cities throughout Northern California July 29th - August 2nd.

Valued from about $15,000 to $560,000, each home comes with title insurance paid for by the sellers. Prospective buyers will be required to make a cash or certified check deposit of $5,000 for each property which they are the winning bidder. No pre-registration is required. Interested bidders may register on-site the day of the auction with a valid ID.

"Swelling volumes of foreclosures nationwide are driving down home prices to historically low levels, making the dream of homeownership more affordable than ever. Purchasing a bank-owned property through auction is a hassle free way to buy the most home for the least amount of money, " said Dave Webb, principal, Hudson & Marshall.

Foreclosure filings in California continue to soar. According to Realtytrac, for the first half of 2009, California's foreclosure filings topped 391,611, making it the state with the highest number of foreclosures.

All homes being auctioned by Hudson & Marshall are sold "as-is" and buyers should inspect properties before placing any bids. Buyers may view homes during the open house scheduled July 25th and 26th from 1:00 p.m.-4:00 p.m. or by contacting listing agents to schedule appointments. Complete property details and additional information may be found at website or by calling 866-539-4172.

Hudson & Marshall will auction the homes on the following dates:

July 29th -Fresno (11 homes)

July 29th - Modesto (8 homes)

July 30th- Santa Rosa (5 homes)

August 1st - San Francisco area (25 homes)

August 2nd -Sacramento (19 homes)

Prior to auction, buyers can purchase property online by visiting the Web site, clicking on the Bid-Now icon and submitting bids. Sellers typically respond to offers within 24 hours. This is a reserve auction, which means sellers have the right to accept, reject or counter any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.

Having sold over 70,000 homes for sellers in the past eight years, Hudson & Marshall of Texas, Inc is the most experienced, trusted leader in the REO auction industry. The company's accelerated sales process enables it to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return. Over the past five years alone, Hudson & Marshall's total sales have topped $1.2 billion and the company anticipates selling another 30,000 homes through 2009.

About Hudson & Marshall of Texas, Inc.

Auctioneer/Broker

H&M is America's Premier Auction Authority. Our 40-year history combined with our continued process enhancements have allowed us to become one of the largest and most respected real estate auction firms in the United States. H&M has set the standard as a full service auction company and continues to consistently raise the bar for our industry. Our number one priority is to provide top-quality service to our customers. Buyers know they can count on H&M to provide value and service from the initial property offering through the closing process. This same approach provides sellers with a one stop single solution to the disposition of real estate assets. Sellers particularly appreciate H&M's streamlined approach that handles their assets from marketing through closing and funding. The H&M process allows the seller to minimize expenses and maximize return. H&M has assisted clients ranging from individuals to large, medium, and small corporations, government agencies, and financial institutions. Recently, H&M has sold and closed over 70,000 homes throughout the country.