New Year Brings a New Wave of Foreclosures to St. Louis Sunday

Jan. 14, 2011 - PRLog -- St. Louis, MO – With the new year comes new opportunity, and this Sunday the opportunities lie with prospective homebuyers as a new wave of St. Louis area and Missouri foreclosures are auctioned at 9:30 a.m. at the Renaissance St. Louis by Auction.com.

This year, a record number of foreclosures in Missouri and the U.S. are expected to hit the market, and the first wave of these new bank-owned properties hits the market Sunday in St. Louis when Auction.com, a global leader is real estate auctions, conducts its first live event of the year with 50+ new foreclosures.

Media is welcome and may shoot video/photos of any property and interview any bidders. (For preview packages, media may use any foreclosure photo and information from www.Auction.com. Your audience may view the available local properties at Auction.com.)

“This first auction of the new year in St. Louis provides prospective St. Louis area and Missouri homebuyers with a great opportunity to buy an affordable dream home,” says Auction.com CEO Jeff Frieden. "We auctioned more foreclosures in St. Louis, the Midwest and the U.S. than any company in 2010 (1,400+ foreclosures sold for $92 million in St. Louis and the Midwest) -- and that directly impacted the local and national economy is a positive way." Nationally in 2010, Auction.com offered an industry-leading 34,000+ foreclosed houses for $1.68 billion. This year, those numbers are expected to increase across the board.

Deals of the day:

3888 Hope Haven Dr Florissant, MO 63034 – 1,480 sq ft house previously valued to $158,000; starting auction bid $19,000

29 Rodelle Woods Dr Weldon Springs, MO 63304 – 2,874 sq ft house previously valued to $373,000; starting auction bid $89,000;

12032 Rosemist Saint Louis, MO 63138 – 1,411 sq ft house previously valued to $130,000; starting auction bid $9,000.

“Homebuyers and investors understand how beneficial our auctions are, not only to them personally, but to the future of the economy,” Frieden says. “Getting families back into these houses creates more jobs, but it also helps in reestablishing the real estate market, setting the market up with a firm foundation to build upon.

“When a house sits vacant, it hurts the local and even the national economy,” he adds. “But when Auction.com turns a foreclosed house back into a home, a new family is paying a mortgage, property taxes, gas, electric and water bills, and they're creating jobs by hiring landscapers, painters and electricians – all of which fuels the economy."

Financing on many homes is available at the auction.

*Please acknowledge Auction.com in your story and inform your audience that they can visit Auction.com for all auction information.

Contact Rick Weinberg at RickW@Auction.com/Direct/Fax: (949) 639-3558 | Mobile: (949) 648-3815 with any questions.

For additional information on these or any other Auction.com events, visit www.Auction.com.

Rick Weinberg | VP, Public Relations
AUCTION.com
1 Mauchly, Irvine, CA  92618
Email: RickW@Auction.com
Direct/Fax: (949) 639-3558 | Mobile: (949) 648-3815

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REDC pioneered the model for modern real estate auctions and has transformed into a comprehensive real estate services company. It sold more than $7 billion in real estate assets at auction since 2007.