Gregory Holm (a photographer) and Matthew Radune (an architect) plan to freeze a foreclosure home in Detroit, Mich., and demolish it in spring 2010 to draw more attention to the alarming default situation that has plagued “Motor City” for several years now.

“Ice House Detroit” — one of more than 13,600 active distressed properties in Wayne County, according to third quarter 2009 statistics from Foreclosure.com — will eventually be razed and donated to the community when the unique project is complete sometime in 2010.

The two “artists” came up with the idea of spraying a house with water and freezing it while studying architecture at Rice University in Houston, Texas. It just so happens that Radune feels Detroit is the ideal canvas for their work.

Here’s a snip from Yahoo!:

“It’s a project that couldn’t be done in the same way in New York City and it wouldn’t necessarily make the same sense. Detroit was a place where we could make it into more than architectural installation.”

Holm and Radune have yet to select a specific abandoned house in the region. Once they do they will take photographs of the transformation of the house, which will be featured in a book and possibly a documentary film.

We’ll keep you posted on their progress as it becomes available. In the meantime, feel free to check out their “Ice House Detroit” Web site right here.

It’s that time again.

REDC, one of the nation’s most reputable and successful real estate auction companies, will conduct public foreclosure sales from this Saturday (Oct. 10) through Thursday (Oct. 29) in several states, including Alabama, Georgia, Mississippi, North Carolina, South Carolina and Tennessee.

It’s six more consecutive days of super sales on condominiums and townhomes, as well as single- and multi-family properties. All told, 467 properties combined must be sold in less than one week.

Bids can start as low as $500 because everything must go!

If you’re looking to take advantage of the best real estate deals in these areas then definitely check out REDCs foreclosure lender auctions.

Here are the locations (For complete details click here):

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You already knew the housing market was hot. We’re here to tell you it’s hotter than ever.

Historically low home prices and interest rates, coupled with an $8,000 tax credit and other incentives for things like “green” renovations, means you can get in on a fantastic deal and still have cash left over in your pocket.

Foreclosure.com is here to help you navigate the exciting process of distressed property investment, but you won’t have forever to make a decision.

New foreclosure rates are slowing. Housing prices are stabilizing in many parts of the country. The $8,000 tax credit vanishes in just two months.

What does it all mean? The time to act is now.

The October 2009 edition of Foreclosure.com’s free educational newsletter, “Investment Exchange,” is now available, which details the “Hot Market” near you and how you can get in on the scorching action before it’s too late.

From how to find fabulous deals in your area to identifying the expert agent in your community, we get you started on the path to making (or saving) a ton of money with discounted real estate right in your backyard.

Check out “Hot Market” today because the time to act is now — remember the clock is ticking to get your piece of the pie!

To read this month’s free educational newsletter from Foreclosure.com CLICK HERE.

RealtyBid.com, which has sold more than 3,000 foreclosed properties to investors throughout the nation in recent years, experienced a 211 percent increase in real estate sales last month (Sept.) when compared to the month prior (Aug.), according to a recent article in the Birmingham Business Journal.

Company CEO, Tony Isbell, attributes the surge to government moratoriums on foreclosures being lifted.

Here’s a snip:

“We expected to see bidders take advantage of the unbelievable (bank-owned) bargains we had to offer in September and they did. Year-to-date, September is by far our biggest sales month of the year and it’s our second biggest sales month ever.”

Remember that RealtyBid.com is a trusted Foreclosure.com partner — we even have a dedicated page that lists home auctions and properties located throughout the the nation.

To check and see if there are any amazing deals (currently 427 properties) in your area right now click here. Be sure to check back often because we add new listings frequently.

The national lenders that own these properties are super motivated to sell them all as quickly as possible. So if you have ever wanted to make money investing in real estate, this is a tremendous opportunity.

This is your opportunity to purchase real estate properties at greatly reduced prices. The terms of purchase are 5 percent down and a 30-day closing process.

Don’t miss out! Check out the upcoming auctions in your area right here.

That’s how Kendi Kiogora, a 28-year-old first-time home buyer, described her recent experience at a Chicago-area auction, anyway.

And when you hear about the deal (or steal) she made off with it’s hard to argue otherwise.

Kendi purchased a “one-bedroom, one-bath apartment in Chicago’s trendy South Loop neighborhood, with skyline views and heated parking, for just $105,000,” according to Reuters.com feature today. The final sale price was $62,000 less than its last listing and well below true market value.

Her good fortune is just more proof that it’s a buyers market. Plain and simple. Opportunities to buy homes at deep discounts have never been better than they are right now.

And according to Dave Webb of Hudson & Marshall, one of the biggest players in the real estate auction business, more amazing deals could flood the market in the very near future.

Here’s a snip:

“The foreclosures are going to explode again.”

Why?

Mr. Webb points to moratoriums that have or are about to expire on foreclosures, which were put in place months ago by major lending institutions and banks to minimize defaults and stabilize the market.

However, this well-intentioned move may have just delayed the inevitable and, as the report suggests, an “avalanche of new repossessions” could be on the horizon.

So keep your eyes peeled in the coming days and months for your winning real estate ticket on Foreclosure.com. Or just use our FREE foreclosure email alerts and we’ll keep our eyes peeled for you.

To check out upcoming real estate auctions from Hudson & Marshall in your area click here.