Online Home Auction Leader Posts Record-Breaking 2007 Despite Year of Real Estate Decline

A growing acceptance of technology and the ability to sell properties quickly have made RealtyBid.com an innovator within the real estate industry

RAINBOW CITY, Ala., Jan. 28 /PRNewswire/ — RealtyBid.com, the nation’s leader in online home auctions, has announced that 2007 was a record-breaking year for the company. The online home auction website specializes in “selling properties quickly” while offering great deals to home buyers, according to CEO/President Tony Isbell. Some of RealtyBid.com’s record-breaking 2007 statistics include:
      — The number of properties offered for auction on RealtyBid.com in 2007
         increased by more than 165 percent over 2006 (which was also a
         record-breaking year for the company).  RealtyBid.com's 2007
         inventory of properties offered for auction represented $542 million
         in asset value.
      — In 2007, RealtyBid.com's property sales increased by more than 157
         percent over 2006.
      — During seven different months in 2007, RealtyBid.com's monthly
         inventory of properties “up for auction” topped more than 1,000; two
         of those months featured property offerings of more than 2,000.
         RealtyBid.com's November 2007 inventory of 2,602 was an increase of
         more than 214 percent over November 2006.

RealtyBid.com sells post-foreclosure properties for financial institutions, new homes for builders/developers, and traditional market homes for real estate agents and their sellers. Isbell recently told the real estate industry publication, Lore Magazine, “There's always opportunity in the market for someone who wants to sell a home now. When you need to sell a house fast, we provide that opportunity.”

Isbell emphasized the positive role RealtyBid.com has played in the re- building process in the wake of the nation's foreclosure crisis. “RealtyBid.com offers a partial solution for communities left with foreclosure homes-homes that can often become unkempt and drag down community home values,” Isbell said. “RealtyBid.com offers thousands of REO (bank-owned, post-foreclosure) properties every month, not only enabling home buyers and investors to purchase properties at desirable prices but also bringing those properties back to productive and private ownership.”

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 12,000 properties online.

SOURCE RealtyBid.com

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