Home Auctions: Starting to Be a Regular Occurrence

auction-gavel.jpgThere is always money to be made on foreclosures, no matter the condition of the market. While many of the homes offered in this manner through Real Estate Disposition Corporation (REDC) are not in great condition, are sold As-Is, and may not be available for inspection, if you know your area, a bargain can be had. It is becoming easier to find bank repossessions and auctions, but this company offers regular auctions in the Bay Area (as well as Sacramento and Modesto), so they must be doing something right. (Their most recent auctions were June and September of 2007.) REDC will be holding its next auction in the Cypress and Oak halls at the San Mateo County Event Center on Saturday February 23rd and Sunday February 24th, with all homes open for inspection from 10am-5pm on 2/2, 2/9, and 2/10. This local auction includes almost 400 offerings of homes throughout the greater Bay Area (up from 129 last time around). There are over 210 homes offered in Alameda, Contra Costa, Monterey, San Joaquin, San Mateo, Santa Clara and surrounding area counties, and another 180 or so in Contra Costa, Solano, Sonoma and surrounding area counties.

Breakdown of offerings on some of the Bay Area counties:

13 Santa Clara County (up 77% from last auction)
61 Alameda County (up only 5%)
9 San Mateo County (up 100%)
146 Contra Costa County (up 470%)
3 Marin County (up from 1 last time around)
41 Solano County (up 683%)
20 Sonoma County (up from 15)