RealtyBid to Auction More than 2,000 REOs for Bank
Saturday, October 04, 2008
RealtyBid.com, an Alabama-based online home auctioneer, has been tapped to auction more than 2,000 REO properties during the month of October for a single bank client, the company said. Although the bank was not named, RealtyBid's CEO and president Tony Isbell said this volume of properties is more than three times the typical number of homes auctioned for this bank client during a normal month.
According to Isbell this is one of several RealtyBid clients with plans to offload larger volumes of discounted properties via its Web site. “This is a sign of what to expect for the remainder of this year and throughout 2009, as Wall Street, the financial markets, and the U.S. government continue to deal with the glut of foreclosure real estate,” Isbell said.
Isbell continued, “We feel this is an indication that lenders are realizing that in order to move foreclosure homes back into private ownership, they will have to make the necessary price concessions and open up to more innovative solutions, such as RealtyBid.com, in order to attract buyers.”
RealtyBid.com offers thousands of discounted properties to potential home buyers and investors each month and says it has seen a tremendous increase in Web site interest over the last two years.
“Our site traffic, number of bidders and home sales continue to grow,” Isbell explained. “U.S. home auctions are on the rise across the board, and we are leading the way by offering buyers the convenience and transparency of our online bidding system. The bottom line is that we have found a way to successfully bring motivated sellers and buyers together.”
Founded in 2001, RealtyBid.com specializes in the expedited sale of real estate through its online auction platform. The company has become one of the most vocal advocates for the use of Internet technology as a means of bringing together real estate buyers and sellers. To date, RealtyBid.com’s team has sold more than 16,000 properties.
According to Isbell this is one of several RealtyBid clients with plans to offload larger volumes of discounted properties via its Web site. “This is a sign of what to expect for the remainder of this year and throughout 2009, as Wall Street, the financial markets, and the U.S. government continue to deal with the glut of foreclosure real estate,” Isbell said.
Isbell continued, “We feel this is an indication that lenders are realizing that in order to move foreclosure homes back into private ownership, they will have to make the necessary price concessions and open up to more innovative solutions, such as RealtyBid.com, in order to attract buyers.”
RealtyBid.com offers thousands of discounted properties to potential home buyers and investors each month and says it has seen a tremendous increase in Web site interest over the last two years.
“Our site traffic, number of bidders and home sales continue to grow,” Isbell explained. “U.S. home auctions are on the rise across the board, and we are leading the way by offering buyers the convenience and transparency of our online bidding system. The bottom line is that we have found a way to successfully bring motivated sellers and buyers together.”
Founded in 2001, RealtyBid.com specializes in the expedited sale of real estate through its online auction platform. The company has become one of the most vocal advocates for the use of Internet technology as a means of bringing together real estate buyers and sellers. To date, RealtyBid.com’s team has sold more than 16,000 properties.
