Reno Foreclosures to be sold at Auction

There will be 300 foreclosure that will be sold this week in Nevada, 39 of them will be in Reno and the rest will be in Las Vegas. Banks are increasingly turning to auction companies like Hudson and Marshall to sell their vast inventories of unsold foreclosures. According the National Associaion of Realtors in the fourth quarter of 2008 45% of all real estate transactions were foreclosures.

Nevada lead the charge with a 133% increase in sales in the fourth quarter of 2008 over the same period in 2007. At these auctions the properties are sold "as is" and the buyers are required to make a $5000 deposit either in cash or a cashiers check for each successful bid they get.

For more information buyers should go to www.hudsonandmarshall.com or call 866-539-4172 for dates and times of the auctions. If you are looking for a list of foreclosures visit my site at www.homes-reno.com  and lets get started.