FIVE-DAY MOTOWN FORECLOSURE AUCTION TO ATTRACT

STAMPEDE OF BUYERS 

Nearly 700 Homes Will Be Auctioned by Hudson & Marshall March 25^th-30^th

Contact:          Crystal Wright

                        Public Relations Strategist

                        202/829-0848

Detroit, MI-March 18, 2008—Buyers seeking deals on homes in today’s chilled housing market will find an incredible buying opportunity at the five-day auction of Detroit area foreclosure homes. Nearly 700 bank-owned foreclosures will be auctioned by Hudson & Marshall on March 25^th-30^th. Valued from $2,000 to $500,000, there is a home for everyone from first time homebuyers to investors. Each home comes with title insurance paid for by the sellers.

“There is a glut of homes for sale in Detroit due to job losses and the city’s high rate of foreclosures. As a result, home prices are continuing to fall, making it a great time to purchase a home,” said Dave Webb, principal, Hudson & Marshall. “Bank-owned foreclosure auctions are a great way for buyers to find exceptional values on homes because lenders are anxious to unload loans costing them money,” added Webb.

Real estate auctions create a level playing field among buyers who decide what a property is worth on that particular day and time. Moreover, in today’s depressed housing marketing, massive foreclosure auctions like those held by Hudson & Marshall help improve communities by putting new owners into empty homes.

In the fourth quarter of 2007, according to the Mortgage Bankers Association, the delinquency rate for home loans was 5.82%. Declining home values are fueling the rise in foreclosures. According to Realtytrac®, in 2007 Detroit reported the highest foreclosure rate among the nation’s 100 largest cities, with nearly 5% of households entering some stage of foreclosure.

America’s largest foreclosure auction firm, Hudson & Marshall will auction the Detroit area homes on the following dates: March 25^th and 26^th at 1:00pm at the Doubletree Hotel Dearborn; March 27^th at 1:00pm and 7:30pm at the Doubletree Hotel Dearborn; March 29^th at 1:00pm at the Ford Motor Company Conference & Event Center; and March 30^th at 1:00pm at the Ford Motor Company Conference & Event Center.

All homes are sold “as-is” and prospective buyers should preview all properties prior to placing bids. There will be an open house for all properties March 20^th and March 22^nd from 1:00pm-3:00pm. Buyers may also contact listing agents to schedule an appointment to inspect properties. Complete auction details and property listings may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

Winning bidders will be required to make a cash or check deposit of $2500 or 5% of the total sales price, whichever is greater. Prior to the auction, buyers can purchase property online by visiting www.hudsonandmarshall.com and clicking on the Bid Now icon. Sellers usually respond to offers within 24 hours. This is a reserve auction, which means the sellers have the right to accept or reject any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.  

About Hudson & Marshall of Texas Inc.

H&M is America's Premier Auction Authority. Our 40-year history combined with our continued process enhancements have allowed us to become one of the largest and most respected real estate auction firms in the United States. H&M has set the standard as a full service auction company and continues to consistently raise the bar for our industry. Our number one priority is to provide top-quality service to our customers. Buyers know they can count on H&M to provide value and service from the initial property offering through the closing process. This same approach provides sellers with a one stop single solution to the disposition of real estate assets. Sellers particularly appreciate H&M's streamlined approach that handles their assets from marketing through closing and funding. The H&M process allows the seller to minimize expenses and maximize return. H&M has assisted clients ranging from individuals to large, medium, and small corporations, government agencies, and financial institutions. Recently, H&M has sold and closed over 40,000 homes throughout the country. See more about H&M at www.hudsonandmarshall.com.