Items Tagged with 'Online auction business model'

ARTICLES

  • Do I Hear 20,000?

    The auction process is daunting, at least to the untrained eye.The auctioneer at a tax foreclosure auction reads off the case number of a house, its...
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  • RealtyBid.com Auctions 1,500 REO Homes

    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.
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  • REDC Auctions $31.7m of Foreclosures Online

    Auction.com, the domain name purchased by Real Estate Disposition (REDC), generated $31.7m in foreclosure sales in an online auction campaign. The auction offered 770 assets in 45 states and saw traffic from thousands of online bidders from August 3 through August 23. The properties auctioned ranged from million-dollar mansions to smaller single-family houses. "This was our most aggressive foray into auctions on a national level, and it was a tremendous success," said REDC/Auction.com CEO Jeff Frieden.
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  • Online Auction Pushes More than 800 Properties

    Real Estate Disposition’s (REDC) Auction.com will host an online foreclosure auction Aug. 3, encompassing more than 800 properties and homes in 45 states, according to a corporate release. The properties range from million-dollar estates to modest single-family residences and are open to public inspection on August 1 and 2. The bids begin August 3 and the auction ends August 9.
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  • Attend an Auction in Your Pajamas

    Seven minutes. A keyboard, a bowl of cereal and $100. That’s all a buyer needs to have a shot at a discounted condo on iBidcondo.com. On July 27th, an online auction will open for a sleek condominium in the Beat condos on the south side of Dallas, TX. A seat at the eBay-like auction room costs $100, but the last property went for $86,840. The winner probably fell out of his or her computer chair, because the Austin condo was valued at $690,000. So, who’s crazy enough to let a property go for a fraction of the valued price?
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  • As REO Inventory Grows, Vendors Jockey For Position

    REO is hot. Make that super hot. As foreclosures have soared, so have the number of properties owned by banks and now on the market to be resold; and that means the companies looking to help lenders sell their REO are facing astronomical growth rates, too, to say nothing of the local listing agents and brokers in the REO space. But that growth has also made the market to help sell institutionally-owned homes ripe for entry -- and two such new entrants underscore the big draw that selling REOs now has.
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