Foreclosure Crisis Fuels 72-Hour Home Auction Cycle
Sunday, May 18, 2008
Tulsa, Oklahoma-based real estate auction firm Williams & Williams is launching a 72-hour real estate auction on Tuesday that will feature 565 homes in 26 states.
The extended auction runs until May 15, 2007, and offers buyers an opportunity to bid online or in-person.
Williams & Williams says the common denominator driving many of the bidders and the size of the auction is the recent surge of foreclosed properties in need of qualified bidders.
“Just as foreclosures have sharply increased, the number of auctions is on the rise,” said Dean Williams, chairman and chief executive officer of Williams & Williams. “Both those hoping to avoid foreclosure and those wanting to dispose of vacant and non-earning real estate are looking to a system that is more time-definite, transparent and efficient than the traditional means.”
Williams & Williams says its live auctions will feature homes located in Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Virginia, West Virginia and Wisconsin. In addition, a virtual block of homes—located in the states of Arizona, California, Minnesota, Mississippi, Oklahoma, South Carolina, Tennessee and Texas—will be sold online.
The extended auction runs until May 15, 2007, and offers buyers an opportunity to bid online or in-person.
Williams & Williams says the common denominator driving many of the bidders and the size of the auction is the recent surge of foreclosed properties in need of qualified bidders.
“Just as foreclosures have sharply increased, the number of auctions is on the rise,” said Dean Williams, chairman and chief executive officer of Williams & Williams. “Both those hoping to avoid foreclosure and those wanting to dispose of vacant and non-earning real estate are looking to a system that is more time-definite, transparent and efficient than the traditional means.”
Williams & Williams says its live auctions will feature homes located in Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Virginia, West Virginia and Wisconsin. In addition, a virtual block of homes—located in the states of Arizona, California, Minnesota, Mississippi, Oklahoma, South Carolina, Tennessee and Texas—will be sold online.
