REDC to Auction 350 Bank-Owned Foreclosures

Beginning today, Real Estate Disposition (REDC) is auctioning more than 350 bank-owned foreclosures in Northern and Southern California, including 76 occupied properties. Through June 12, REDC will auction more than 70 Northern California properties, including 34 occupied homes. An online-only auction, the offering ends at noon Central. The Southern California auctions of more than 300 foreclosures, including 42 occupied homes. Both a live and online auction, the offering begins June 19 at 9:30 a.m. and closes the following day. Real estate services company REDC has auctioned more than 20,000 so far in 2010, and foreclosures on behalf of banks. The auctions have raised more than $725m this year. In early December 2009 alone, REDC auctions facilitated $68.8m of foreclosed property purchases. Write to Diana Golobay.