Foreclosed Home Auction Attracts Potential Buyers

Hundreds of potential homeowners crowded the Palm Springs Convention Center to bid on foreclosed homes.

They’re hoping to cash-in on the low prices, thanks to the housing slump.

It’s the auction company’s fourth stop on an 11 day tour of Southern California

They’re hoping these sales will help get the struggling economy back on track.

Hundreds gathered for a chance to land a new piece of property.

Residents had their choice of more than 60 homes in the valley, all of which were foreclosed on.

Some homes sold for less than $100,000.

Thousands of home are up for auction nationwide.

It’s due to the recent housing crisis.

These auctioneers are offering over 1500 foreclosed homes on their southland tour.

They usually sell over 80 percent of them.

To help avoid financial problems, auctioneers provide their own lenders or let the customers get their own.

They’re hoping the sales will help get the economy back on track and give some buyers a nice place to live.

The trip finishes up on April 17th in Moreno Valley.

The auctioneers will then move on to Northern California.