Deals Await Buyers at Auction of Nearly 100 Minneapolis Foreclosures

MINNEAPOLIS, Oct. 9 /PRNewswire-USNewswire/ -- In a chilled housing market, bursting over with excess inventory, more buyers are attending bank-owned foreclosure auctions to find deals. Eager to move these properties off their books, banks often sell these homes through auction at heavily discounted prices. America's leading real estate auction firm, Hudson & Marshall, will auction nearly 100 homes inthe Twin Cities on October 18th at 1:00pm at the Minneapolis Airport Marriott.

Buyers will be required to make a $2,500 deposit in the form of cash, cashier's check or certified funds for each property for which they are the winning bidder. Homes are sold as-is and buyers are encouraged to inspect homes prior to auction. An open house is scheduled for Saturday, October 11th and Sunday, October 12th from 1:00pm-3:00pm. A complete list of properties and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

"Real estate auctions like ours are attracting more buyers in today's weak housing market because they know can find some of the best deals on the market assembled in one room," said Dave Webb, Principal, Hudson & Marshall. "Buyers also enjoy the ease and efficiency of buying a home through auction. All the homes come with title insurance paid for by the sellers and contracts close within 30 days," added Webb.

Foreclosures rose inMinnesota by nearly 30% from July to August of 2008. According to RealtyTrac(R), in August Minnesota's foreclosure rate ranked 25th in the nation with one in every 1,057 households entering foreclosure.

Prior to theMinnesota auction, buyers may purchase property online by visiting the company's website and clicking on the Bid-Now icon. Sellers usually respond to offers within 24 hours. This is a reserve auction, which means sellers have the right to accept, reject or counter any bid. In past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.

Having sold over 70,000 homes for national lenders and asset management companies in the past eight years, Hudson & Marshall ofTexas, 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.

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 inthe 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. See more about H&M at www.hudsonandmarshall.com.

Contact: Crystal Wright

Public Relations Strategist

202/829-0848

SOURCE Hudson & Marshall of Texas Inc.

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