RealtyBid.com Reports Good News in the Housing Market

Leader in online home auctions received 6,000+ bids during one six-hour period on its way to largest sales month ever

RISMEDIA, Nov. 10, 2008-There is some positive news regarding the weakened housing market, RealtyBid.com reports. The good news is that there are still thousands of buyers with a large appetite for appropriately priced homes. And, the growing success of RealtyBid.com is proof positive that motivated sellers and happy buyers are connecting.

The online home auction company has announced that October was the company’s most successful sales month ever with an almost 75 percent jump in sales over October 2007 and an almost 43 percent jump over its previous record sales month.

RealtyBid.com CEO Tony Isbell said the company sold almost 600 homes during a 21-day time period during the month of October.

“Our online auction process encourages people to get involved in bidding and place an offer at their price,” Isbell said. “The transparency of seeing the bids of other potential buyers gives comfort to the buying public in a time when confidence in the housing market is on edge.”

During a single October auction event, 366 bank-owned homes were up for bid and received a record number of bids. Isbell said, “During the last six hours of that event, we recorded more than 6,000 bids on those homes. More than 82 percent of the homes in that auction event received bids.”

RealtyBid.com Executive Vice President Mike Keracher said the transparency of online bidding on RealtyBid.com helps foster consumer confidence.

“Our approach to selling real estate, primarily foreclosures, is completely transparent; all parties are able to monitor their bids and properties of interest at all times,” Keracher said. “People don’t trust the marketplace right now, but our system allows buyers to compete fairly at their own price. They can see visible market value being established right before their eyes. There is no guesswork. We deal with real offers from real people with real money.”

Thousands of homes are available each month on RealtyBid.com from the nation’s largest lenders, builders and real estate brokerage firms. RealtyBid.com has sold over 16,000 homes online and was ranked as the country’s number one sales team in team sides in the 2007 Lore Magazine/Wall Street Journal/Real Trends “Real Estate Top 200.”

For more information, visit www.realtybid.com.