Hudson & Marshall has once again been selected to partner with HUD to auction over 100 foreclosed homes located in Nevada and Arizona. The auction will take place this Saturday, November 5th at the JW Marriott in Las Vegas.

With interest rates at historic lows and a surplus of inventory, Hudson & Marshall says there has never been a better time for owner occupants or investors to buy.

“We are excited to be able to once again work with HUD to assist the agency in its efforts to provide quality affordable homes to all,” said Dave Webb, principal for Hudson & Marshall.

There will be two separate buying opportunities November 5th. The first auction scheduled at 11:00 a.m. is for owner occupants only and will feature approximately 70 properties in the Las Vegas area.

Buyers must certify that they have not purchased a HUD-owned property within the past two years as an owner occupant, and acknowledge they will occupy the

property as a primary residence for at least 12 months. Qualified buyers may receive special Federal Housing Administration (FHA) $100 down homebuyer financing and up to 3 percent in closing costs paid by HUD.

The second auction at 3:00 p.m. is open to all bidders and will feature approximately 40 properties in Arizona and Nevada. There will be no limitation on the number of homes a buyer can purchase and the buyer is not required to occupy the property.

“Purchasing homes through the auction process often allows buyers to grab properties at discounted prices compared to homes purchased through the traditional method,” Webb noted.

All properties auctioned by Hudson & Marshall are sold “as-is” and buyers should inspect properties before placing any bids. These are reserve auctions where the seller has the right to accept, reject, or counter any bid. However, Hudson & Marshall says in past auctions it’s conducted, the majority of offers have been accepted.

HUD will pay a 3 percent ($1,250 minimum) selling agent commission to qualified brokers who are registered with HUD.

Hudson & Marshall has sold over 80,000 REO homes for sellers in the past 10 years.

The company says its accelerated sales process enables the company to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return.

Over the past five years alone, Hudson & Marshall’s total sales have topped $3.5 billion and the company anticipates selling another 15,000 homes in 2011.