RealtyBid.com, an online auctioneer since 2001, will auction 1,500 REO properties in the month of September. One major lender valued the wide-ranging types of homes at more than $142m. That total will be added to $450m worth of property auctioned since the start of 2009, a 26% jump from the same date in 2008, according to a corporate release. The September auction offers properties from nearly every state, and their ability to offer bargain pricing attracts opportunistic bidders, says Mike Keracher, the company’s vice president. “We’ve sold more homes at this point in the year than in any previous year. We have a consistent inventory of bank-owned homes up for bid at tremendous discounts,” says Tony Isbell, RealtyBid.com’s CEO. “Plus, the ease-of-use and transparency of our online real estate auction system gives bidders confidence in their decision to bid on our site.” Since its launch, RealtyBid.com auctioned more than 25,000 homes online. Write to Jon Prior.
Most Popular Articles
The housing market is signaling there will be an economic recession by the 2020 election, according to Benn Steil, director of international economics at the Council on Foreign Relations.
Foreclosure activity sank in the third quarter of 2019, dropping to the lowest level in nearly 15 years, according to the latest report from ATTOM Data Solutions. Foreclosure activity in the third quarter fell 19% from a year ago to the lowest level since the second quarter of 2005, a 13-year low.