It’s been about 25 years since auctions were somewhat common in Colorado, but the high rate of foreclosures in the state has led to a new round of auctions scheduled next month in Denver.
According to the Rocky Mountain News, a Dallas company, Hudson & Marshall, plans to auction some 75 foreclosed homes.
The homes in auction, says the paper, are valued from about 25 thousand up to 200 thousand dollars.
Says one of the co-owners of Hudson & Marshall , Dave Webb, “There can be opportunities in a declining market.” He tells the paper, “The lenders are motivated to sell. First time buyers who have been shut out of the market can find opportunities, as well as investors.”