Online Real Estate Auctions - Advice and Information From RealtyBid.com
Quality news and information about national and local real estate auctions, sponsored and authored by RealtyBid.com and edited by RISMedia.Interest In Foreclosures Draws Visitors To RealtyBid.com
As we’ve all read about and heard about over the past few months, the tide of foreclosures doesn’t seem to be slowing at all. In fact, foreclosures are steadily increasing. Just this week, on Monday, May 5, Federal Reserve Chairman Ben Bernanke addressed the problem in front of Congress. He said some 1.5 million U.S. homes entered into the foreclosure process last year, up 53 percent from 2006. The rate of new foreclosures is certainly likely to be even higher this year, Bernanke said.
Along with the increase in foreclosures has come and interest in purchasing foreclosure homes. We at RealtyBid.com are seeing a growing number of people looking for real estate bargains, such as the bank-owned foreclosure properties that populate much of our website, through online home auctions. In April, RealtyBid.com saw its greatest number of unique visitors to the site ever, more than 630,000, and May is on pace to top that. To put that number into perspective, in April of 2007, RealtyBid.com’s total number of unique visitors was just more than 122,000. That’s an increase of more than 413 percent in just one year.
Certainly, this is a positive for our company and the online real estate auction industry, but we are also hopeful that the transition of these homes from bank ownership to private ownership is also a positive for real estate buyers, for the buyer agents that we work with every day, for the communities in which these homes are located, and for the neighbors who live around them.
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About Local Author
Tony Isbell is the president and CEO of online real estate auctions company RealtyBid.com. He has been involved with the real estate auction business on a national basis for more than 16 years. He has worked in various capacities in the auction business throughout his career, including in national positions such as managing director of government operations and national sales director for one of the country's largest national auction firms.
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