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RISMEDIA, September 7, 2007–During September, real estate auction website RealtyBid.com will spotlight the State of California by auctioning more than 250 lender-owned California properties at bargain prices.In the face of skyrocketing foreclosures nationwide, many national lenders are looking to RealtyBid.com’s online auction platform to expedite the sale of their post-foreclosure home inventories. Certainly, lenders holding California foreclosure properties are no exception. In fact, a recent industry report stated that in July, California foreclosure filings were up 289 percent from the same period last year, the most foreclosure filings of any state for the seventh month in a row.

According to President/CEO Tony Isbell, RealtyBid.com provides accelerated marketing programs to financial institutions, sellers, real estate agents, and builders and discounted prices to real estate buyers-a win-win situation for all involved, especially in the current slumping real estate marketplace. Isbell said the company’s August performance statistics obliterate the company’s previous records. RealtyBid.com offered 1,528 properties for auction during August, shattering its previous monthly inventory record of 1,275, which had just been set in July 2007, and preliminary August sales reports indicate that RealtyBid.com August sales were up 268 percent over August 2006.

RealtyBid.com’s September focus on California is not the first time the company has spotlighted the state. In May, homebuilder Lennar Homes of California successfully auctioned numerous new homes in Indio and Rancho Mirage on RealtyBid.com.

Isbell said, “More lenders, builders and real estate agents are looking to RealtyBid.com in order to sell properties more quickly in today’s changing real estate landscape. They understand non-traditional strategies are needed to appeal to an increasingly skillful and tech savvy home-buying populous. In today’s buyer’s market and with the growing acceptance of technology as a part of our everyday life and work, competitive online real estate bidding makes perfect sense and is being embraced by more and more real estate buyers and investors.”

For more information, visit RealtyBid.com

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