Monday, October 18, 2010

More Idaho Bank-owned Homes on the Auction Block

Posted By on Mon, Oct 18, 2010 at 10:12 AM

A sad reflection of the economy plays out in downtown Boise Monday night as the gavel comes down on yet another foreclosure auction.

Idaho was ranked fifth in the nation with the number of new foreclosures in September. RealtyTrac, an online monitor of real estate filings reported that 1,1175 new defaults were filed last month, bringing Idaho's total number of default properties to 3,141. That's a rise of 24 percent over the same month last year.

In August, a California company, Real Estate Disposition auctioned off a couple dozen Idaho homes that were seized by banks. Monday night, Auction.com rolls into Boise, part of a three-day, three-city Northwest "foreclosure auction tour." More than 20 Idaho homes are expected to be up for bid. The auction begins at 6:30 p.m. at the Red Lion Downtowner in Boise.

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