Boise Area Foreclosures Hit the Market Thursday as Auction.com Rolls into Town

Feb. 23, 2011 - PRLog -- Boise, ID – New Boise area foreclosures hit the market Thursday as Auction.com, a global leader is real estate auctions, auctions new bank-owned properties at 6:30 p.m. Wednesday night at the Red Lion Downtown.

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.)

“Thursday's auction provides Boise area homebuyers with a great opportunity to buy an affordable dream home,” says Auction.com CEO Jeff Frieden. “These auctions are extremely important because they help fuel the local economy.”

Notable foreclosures available at Thursday’s Boise auction include:

23 Mores Creek Cir Boise, ID 83716 – 1,845 sq ft house previously valued to $325,000; starting auction bid $25,000;

1914 Primrose Dr Nampa, ID 83686 – 2,202 sq ft house previously valued to $395,000; starting auction bid $19,000.

Auction.com auctioned more foreclosures in Boise, the Northwest and the U.S. than any company in 2010 (1,400+ foreclosures sold for $92 million in Boise and the Northwest) – and that directly impacted the local and national economy is a positive way. Nationally in 2010, Auction.com auctioned an industry-leading 35,500+ foreclosed assets for $2.4 billion. This year, those numbers are expected to increase across the board. In fact, in January 2011, Auction.com auctioned 4,800 foreclosures for $264 million, tripling its production from January 2010.

“Homebuyers and investors understand how beneficial our auctions are, not only to them personally, but to the future of the economy. 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.” Frieden says.

“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.