RealtyBid.com Tapped to Auction 2,000+ Foreclosures in One Month for Top Lender

In the wake of the country's current financial crisis, RealtyBid.com, the nation's leader in online home auctions, has been tapped to auction more than 2,000 properties during the month of October for one of the nation's top lenders. According to RealtyBid.com CEO/President Tony Isbell, this volume of properties represents an increase of more than three times the typical volume of REO homes (bank-owned foreclosures) auctioned via RealtyBid.com for this particular bank client during a typical month.

"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. "This client is just one of several of our lending institution clients preparing to offer large volumes of discounted properties to the public via RealtyBid.com.

"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."

What that means for potential home buyers and investors around the country, Isbell added, is that these price concessions will result in a multitude of home bargains available via RealtyBid.com during the month of October and for the foreseeable future.

RealtyBid.com already offers thousands of discounted properties to home buyers and investors each month and has seen a tremendous increase in interest in the Web site over the last two years.

"Our site traffic, number of bidders and home sales continue to grow. 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," Isbell said. "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 innovative online auction platform. The company has become one of the most vocal advocates for the use of Internet technology as a means of bringing real estate buyers and sellers together. RealtyBid.com's team has sold more than 16,000 properties.

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