      
 Real Estate Auctions Becoming Top Choice to Sell ForeclosuresPublished: Thursday, August 27, 2009 Real estate auctions are no longer the sales venue of last resort among foreclosed homes, with real estate agents and sellers alike suggesting up front an auction might net the fastest sale. One of the reasons foreclosed home auctions are becoming more popular when it comes to selling Southern California bank homes is that agents are recognizing an auction exposes hundreds of potential buyers to all their listings, not just the foreclosures on the auction block. Buyers come prepared to buy, with guaranteed financing in hand, and if an agent can find a house that fits their needs without the competition of a home auction, everyone comes out a winner. Foreclosed home auctions also guarantee a set sales date, something real estate agents are anxious to nail down. Whereas a traditional foreclosures listing could linger on the market anywhere from a week to sixty days, knowing that a foreclosures auction is set for a specific day, and buyers are required to bring guaranteed financing with them on auction day, appeals to agents concerned about long list periods. Sellers Readily Turning to Auctions for So Cal ForeclosuresIt's not just agents suggesting foreclosures be sold at a home auction either. Many sellers, including the lenders and REO departments of the major mortgage companies, are actively driving the foreclosed home auction industry, realizing they can sell multiple properties in a short amount of time, all to buyers that are serious about buying Southern California foreclosures and have their pre-approved financing in place. With foreclosure rich areas like Riverside County, where Murrieta foreclosures and Temecula bank homes lead the nation in sheer numbers of foreclosures per capita, and San Diego County, where coastal San Diego foreclosures are commanding multiple bids and above median sales pricing, sellers and agents alike are evaluating all possible strategies for generating buyer interest and commanding the highest and best pricing. If you have been thinking about entering the foreclosures market, consider the opportunities of buying a foreclosed home at auction. Not just for last resort properties needing major rehab, more and more buyers are finding homeowner success at real estate auctions. Other Recent ArticlesHome Buyer Tax Credit Extended Until April, 2010Category: Recent Articles Published: Thursday, December 10, 2009 The federal tax credit has been extended to April, 2010, including an expanded benefit to existing home owners who sell their homes and then repurchase a new primary residence valued at $800,000 or less. This could be the perfect opportunity for buyers who wanted to cash in on home auction bargains but were fearful of lower resales on their existing homes. 57,000 Foreclosures Remain in California – Lenders Scheduling More Home AuctionsCategory: Recent Articles Published: Thursday, December 03, 2009 The Southern California foreclosures market may be shifting, with fewer homes entering foreclosure than in previous quarters. However there are still 57,000 existing foreclosures statewide that need to be sold, and lenders are looking at foreclosed home auctions as a major tool to sell large numbers of foreclosures in a short amount of time. Southern California Foreclosures Still the Bulk of Home SalesCategory: Recent Articles Published: Friday, November 27, 2009 Southern California foreclosures still account for the bulk of area homes sales and lenders are finding real estate auctions the fastest and most efficient method of clearing their books of REO properties. Buying a home at auction requires a little prep work, however and the experts at homeauctionexpo.com share their insight on how to find the best auction properties.  August 2009
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