RISMEDIA, February 24, 2010—Keystone Asset Management Inc., a national provider of comprehensive REO, Default Management and Property Valuation Services, recently announced that it has partnered with RealtyTrac Inc., one of the leading online foreclosure marketplaces for default, auction and bank-owned REOs. The partnership gives additional market exposure for foreclosed property listings provided by Keystone Asset Management, displaying them prominently to RealtyTrac’s 3 million unique monthly visitors.
“Having an additional resource to post our listings will provide greater market visibility,” said Jane Hennessy, Executive Vice President of Keystone. “Our strategic partnership with RealtyTrac will help us leverage our exposure to the marketplace and assist our agents in promoting the properties to interested buyers across the country.”
According to the company, home buyers and investors using RealtyTrac can easily make online offers or inquiries on the Keystone-provided REO properties. Users can simply click on the “Bank Owned” tab on any RealtyTrac search results page and look for properties with the “Make Offer” button.
“This partnership will offer great value to our users, giving them the ability to pinpoint REO properties that lenders are actively marketing for sale and to conveniently pursue and purchase those properties,” said Rick Sharga, Senior Vice President for RealtyTrac. “Together with Keystone, we believe we can have a positive impact on the national housing market by bringing together motivated buyers and sellers of foreclosed real estate.”
In 2009, a record 2.8 million homes received a foreclosure filing. This represents a 21% increase in total filings from 2008. The number of foreclosures is expected to increase significantly in 2010 as millions of option ARMS and ALT-A mortgages reset in the next 12 to 18 months and double-digit unemployment plagues the national economy this year.