One man's pleasure is another man's pain: Hudson & Marshall, a Texas-based firm that auctions off foreclosed real estate, is bringing the fun here to NoCal shortly. The firm gleefully announced that, as "foreclosures are exploding in California," it will auction off approx. 600 foreclosed, empty homes throughout Northern California Nov. 12-18—more than 200 of which are in the Bay Area. One single, lonely property in the whole lot is in San Francisco: 1379 Revere Avenue, a 1,575 sq. ft. property in Bayview.
There's no need to wait for the scheduled Nov. 17 auction, though. Conveniently, you can place your bid on the Web right now! It looks like the property last sold for $750k in 2005; the bank foreclosed last May. We've never taken part in such an event before, but the whole point of this process is to get some crazy value, right? Two stories, six total rooms, claiming four beds, one bath. Bayview may not be for everyone, but this represents an opportunity to enter into home ownership—or start that investment property portfolio—right here in San Francisco proper. Any takers?
· Homebuyers Find Slew of Deals at Auction of Nearly 600 Foreclosed Northern California Homes [PR Newswire]
· Northern California - Over 600 Homes! [Hudson & Marshall]
· 1379 Revere Ave [Hudson & Marshall]