REDC Reports $550 Million in Foreclosure Auction Sales
Saturday, May 10, 2008
Irvine, California-based Real Estate Disposition Corp. (REDC) recently pulled in $550 million in home auction sales while auctioning off foreclosed properties in Florida, Southern California and Northern California.
The auctions occurred in a relatively short period of time—28 days—and included approximately 3,000 homes.
“Unparalleled is the only word I can think of when I look back at the past 30 days,” said Jeff Frieden, chief executive officer of REDC. “These series of auctions is historical in scope, size and sales."
A breakdown of the results shows REDC sold more than 1,000 homes for a grand total of $255 million during a series of eleven auctions held in Southern California. Meanwhile, nearly 1,000 homes in Florida sold over an eight-day period and 1,000 homes in Northern California were auctioned off over a period of nine days.
When discussing the recent auctions in a statement, REDC said, "During the same period, REDC conducted an additional 14 auctions for a nationwide total of 42 auctions in 30 days.”
The auctions occurred in a relatively short period of time—28 days—and included approximately 3,000 homes.
“Unparalleled is the only word I can think of when I look back at the past 30 days,” said Jeff Frieden, chief executive officer of REDC. “These series of auctions is historical in scope, size and sales."
A breakdown of the results shows REDC sold more than 1,000 homes for a grand total of $255 million during a series of eleven auctions held in Southern California. Meanwhile, nearly 1,000 homes in Florida sold over an eight-day period and 1,000 homes in Northern California were auctioned off over a period of nine days.
When discussing the recent auctions in a statement, REDC said, "During the same period, REDC conducted an additional 14 auctions for a nationwide total of 42 auctions in 30 days.”
