Area’s Foreclosed Homes Sell Briskly, For Less, At Auction

A pair of out-of-town auction giants sold 190 more foreclosed homes in Sacramento on Sunday, earning $21 million for lenders that repossessed them for lack of payments, the firms said Monday. Irvine-based Real Estate Disposition Corp. said it sold 162 Sacramento-area homes for $17.1 million. It was the latest event in a series of nine company auctions since June 2007 that have sold 1,912 capital-area foreclosed homes for $261.4 million, said REDC spokesman Rick Weinberg. The firm's high-energy Sacramento auctions, attracting an estimated mix of 70 percent owner-occupant buyers and 30 percent investors, have pulled in $66.9 million for lenders in 2007, $158.7 million in 2008 and $35.8 million so far in 2009, said Weinberg. Sunday, Dallas-based Hudson & Marshall also sold 30 capital-area homes for $4 million.

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