(KMOV) -- St. Louis sports lovers could have their dreams come true.
On Monday August 23, REDC will be hosting a home foreclosure auction at the Millenium Hotel. The catch, many of the foreclosed homes are near sporting venues in St. Louis, Indianapolis, Kansas City, and Chicago.
REDC CEO Jeff Frieden says, “These auctions provide a great opportunity for first-time homebuyers, investors and general homebuyers who may be looking to move into bigger properties and pay lower mortgages.”
Frieden thinks that many properties could become very affordable saying, “Homebuyers and investors will be bidding on and buying these foreclosures for as much as 50-60% less than their previous high value. The sellers of these bank-owned houses are highly motivated to turn these non-performing assets into performing assets, which gives bidders a great advantage. When you combine motivated sellers, lower housing prices and the lowest interest rates in 50 years, it has created the ‘perfect storm’ for buying a property.”
REDC features two properties within three miles from Busch Stadium in St. Louis.
To view a complete list of properties for auction, click here.