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A blog about the economy and the Sacramento-area real estate market.

April 20, 2009
Auction giants clear out 190 more houses Sunday

Reports came in today that Irvine-based auction giant Real Estate Disposition Corp. auctioned 162 capital-area houses Sunday at Cal Expo for $17.1 million. That's about $106,000 apiece. That was its ninth Sacramento event since mid-2007  and part of another big swing through Northern California to put 650 more houses on the block.
 Dallas-based Hudson & Marshall also cleared out about 30 Sacramento-area houses for $4 million - about $133,000 each. It was its eighth time in Sacramento and part of a Northern California tour that earned about $40 million for lenders who repossessed houses for lack of mortgage payments.

REDC provided the following recap of its events,saying it has auctioned 1,912 Sacramento-area foreclosed homes for $261.4 million since mid-2007. Details:


June 23 - 107 homes, $26.5 million

Sept. 29 -144 homes, $22.4 million

Sept. 30 -134 homes, $18 million



Feb. 16 - 174 homes, $28.7 million

Feb. 17 -125 homes, $23.6 million

April 19 - 169 homes, $20.7 million

April 20- 147 homes, $21.6 million

July 12 - 197 homes, $23.4 million

Sept. 20 - 183 homes, $21.6 million

Dec. 6 -  191 homes, $19.1 million



Feb. 14 - 179 homes, $18.7 million

April 18 - 162 homes, $17.1 million


Source: Real Estate Disposition Corp.



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