Tag Archives: REDC

Foreclosure Auctions are Red Hot as Nations Leading True Estate Auction Firm REDC Rolls into Atlanta Saturday to Auction 250+ Fresh Foreclosures

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Irvine, CA (Vocus) March six, 2010

Home foreclosure auction sales are red-hot throughout the U.S.

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Actual Estate Disposition, LLC, (REDC), the nation’s leading true estate auction company, has auctioned a U.S.-major 5,705 properties for $ 322 million so far this year as it rolls into Atlanta to auction 250+ foreclosures at Cobb Galleria Saturday March six at 9:30 a.m.

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“2010 is the year of the foreclosure,” REDC CEO Jeff Frieden says, referring to the three to seven million foreclosures that are hitting the market this year, doubling the quantity from 2009. “The marketplace is white hot. The demand is there along with the inventory.”-

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To see all the properties up for auction, go to REDC’s internet website, http://www.Auction.com. The public might register online for the auction. REDC also conducts industrial and notes auctions, which can also be reviewed at http://www.Auction.com.

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Here are some of the best offers in the ATL auction:

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647 Hwy 279 Fairburn, GA 30213 5600 sq ft home previously valued at $ 678K that will have a startling bid of $ 99K

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613 Chimney Oaks Mableton, GA 30126 3619 sq ft property previously valued at $ 510K that will have a startling bid of $ 149K

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4997 Dovecote Trl Suwanee, GA 30024 3864 sq ft home previously valued at $ 455K that will have a startling bid of $ 99K

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844 Cross Fire Ct Nw Marietta, GA 30064 3733 sq ft house previously valued at $ 425K that will have a startling bid of $ 149K

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The dismal state of foreclosures in Georgia and the U.S. is staggering. The State Foreclosure Prevention Functioning Group, which is made up of state banking regulators and attorneys general, released a report that reports, “Despite efforts of servicers, home owners, and the government, the foreclosure crisis continues to worsen. These signs point to far more foreclosures in 2010 than in 2009.”

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In response to the millions of foreclosures hitting the market, REDC ramped up operations to auction bank-owned residential residences and condos, commercial buildings and notes in a lot more than 47 states, each in live auctions and on the web. REDC is conducting a record 88 auctions in a 42-day span.

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Thousands of these foreclosures will modify hands through REDC’s auctions, which directly impacts the regional and national economy by helping to reduce the ramifications of one more financial crash. REDC auctions have emerged as a hot new trend in house acquiring and investing, regardless of whether it’s residential, commercial actual estate or notes.

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Market authorities refer to these new foreclosures as “shadow inventory” resulting from delays via a range of indicates, which includes national and state moratoriums, loan modifications, legal squabbling, re-defaults and bank issues. There is fear that the avalanche of new foreclosures will trigger an additional economic crisis.

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Considering that its launch in 1990, REDC has helped tens of thousands of households and people acquire residences for affordable rates by means of its unique auction approach, establishing the business as the international leader in actual estate auction marketing and advertising.

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REDC’s genuine estate auctions have gained tremendous appeal and reputation amongst buyers and sellers in todays industry, Frieden says. In truth, the real estate auction market now plays a major role in house sales in the U.S. As a result, REDC has helped make auctions a preferred decision more than traditional, time-consuming and high-priced genuine estate sales approaches.

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REDC’s headquarters are in Irvine, California with offices in Dallas, New York and London.

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Speak to:&#13

Rick Weinberg&#13

REDC Communications&#13

949-639-3558&#13

rickw(at)redcgroup(dot)com&#13

http://www.redcgroup.com&#13

http://www.auction.com

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Far more Than 100 Bank-Owned Residences in Inland Empire to be Auctioned on July 24 by Bank of America, REDC and New Vista

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Ontario, CA (Vocus) July 2, 2010

Bank of America, actual estate auction specialist REDC and New Vista have announced that they will auction much more than 100 bank-owned residences in the Inland Empire. The auction will be open to homebuyers in search of a home as a main residence, municipalities participating in the U.S. Housing and Urban Development (HUD) Neighborhood Stabilization Plan (NSP), and housing nonprofit organizations.

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The auction will be held on Saturday, July 24, at the Ontario Convention Center. Registration begins at 8:00 a.m. PDT and the auction begins at 9:30 a.m. PDT.

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The July 24 auction is for bidders who intend to occupy the properties as their principal residence, with out competitors from investors. The Bank of America-owned properties to be auctioned have been removed from the industry, inspected and repaired, and are prepared for sale.

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Far more information on the auction, like a list of all properties in the auction, property descriptions and images can be located at REDCs web site http://www.Auction.com/ie. To be considered for buy approval, possible homebuyers are advised to bring the following products to the auction: government-issued photo identification such as a drivers license or passport funds for deposit previous two years W-2s or if self-employed the last two years of total tax returns most recent 30 day paystub showing Year-to-Date income most current two months bank statements on all accounts and a recent utility bill in the purchasers name.

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Since homebuyers have found it hard competing with investors in todays market place, this auction is exclusively for homebuyers, with Bank of America offering quite eye-catching financing options onsite, in addition to a three % commission for agents who bring their homebuyer clientele to the auction.

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There are two auction sessions: The 9:30 a.m. auction session is exclusively for buyers who are pre-authorized for help through the Neighborhood Stabilization Plan, a federally funded system for low- to middle-revenue homebuyers willing to get a vacant house in specifically targeted locations. The second portion, at 1 p.m., is for very first-time homebuyers pre-approved for a mortgage by any lender.

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New Vista will hold open homes on July ten, 17 and 18 so interested buyers can tour the residences prior to the July 24 auction. Possible purchasers can also uncover house descriptions at auction.com/ie.

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New Vista is also scheduling homebuying seminars for interested bidders to much better prepare them for homeownership and will execute house inspections to make certain the properties are in great situation.

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Owner-occupants are the key to revitalizing and strengthening neighborhoods that have been difficult hit by the economy, stated Jim Park, CEO of New Vista. Functioning with Bank of America, REDC and New Vista has developed a one particular day homebuyer occasion that gives very first time and owner occupant purchasers an exclusive opportunity to obtain homes. This distinctive event will aid turn 100 foreclosed properties into residences for several deserving households.

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REDC has conducted comparable auctions earlier this year in Arizona, Nevada and California, auctioning a total of 368 properties to individuals and households with a combined obtain price tag of $ 32.7 million.

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Bank of America has a complete neighborhood stabilization strategy for communities hardest hit by the foreclosure crisis, ranging from business-leading loan modification efforts and targeted residence retention outreach, to becoming the 1st key servicer to generate an REO sales process specifically for HUD NSP recipients.

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Recognizing the Inland Empires unique housing and financial challenges, it is best when we can sell our inventory of true-estate owned properties to families who will live in the homes and contribute to the revitalization of the greater community, mentioned Matt Vernon, national servicing executive, Bank of America.