REDC Auction Today

This morning The Real Estate Disposition Company (REDC) held an auction of 60+ foreclosed homes at the Renaissance Boston Waterfront Hotel.

Among the notable properties one really stands out, a $1M Foreclosed Weston MA house located at 193 Boston Post Rd and is a 4,900 square foot 14-room property. Here’s the link to the auction site’s listing, http://www.auction.com/property.php?auctionID=H-152&itemID=178249&venueId=1057&start=0&flgRemoved=0&flgEscrowed=0.

This auction is part of REDC’s record 125 auctions in 71 days. The company has already auctioned a US-leading 7,350 properties for $415 million so far this year.

REDC’s CEO, Jeff Frieden said, “2010 is the year of the foreclosure,” referring to the three to seven million foreclosures that are hitting the market this year, doubling the number from 2009. “The market is white hot. The demand is there along with the inventory.”

Two other notable properties that were to be auctioned off this morning are:

300 Raleigh Tavern Ln North Andover, MA 01845 — 3219 sq ft 10-room property previously valued at $700K that has a starting bid of $119K (http://www.auction.com/property.php?auctionID=H-152&start=0&itemID=178250&srch=&flgRemoved=0&flgEscrowed=0).

and 2 Village Ln South Hamilton, MA 01982 — 1776 sq st 6 room house previously valued to $415K, starting bid $99K (http://www.auction.com/property.php?auctionID=H-152&start=0&itemID=176507&srch=&flgRemoved=0&flgEscrowed=0).

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