foreclosure auctions

January 21, 2010 12:41 ET Rings In New Year With Hundreds of Foreclosure Bargains

Discount Properties in Missouri, Ohio, Utah and Wisconsin Headline Home Buying Opportunities Across the Country

RAINBOW CITY, AL--(Marketwire - January 21, 2010) - After a strong 2009, online home auction company has hit the ground running in 2010 by offering close to 1,000 REO (bank-owned, post-foreclosure) properties to investors and home buyers around the country during the month of January.

Within the past week, hundreds of bargain properties have been added to the home auction website, many specifically from the states of Missouri, Ohio, Utah and Wisconsin.

"As always, we have discount properties from around the country available on our website. However, one specific lender we are working with has supplied us with dozens of Ohio, Utah, Wisconsin and Missouri foreclosures to auction. This is a banner opportunity to buy homes in these states at unbelievable prices," said Executive Vice President Mike Keracher.

"Most of us know that 2009 was a record year for foreclosures in our country. Our hope at is to continue to turn these negative circumstances into a positive for home buyers and investors looking for discount properties," Keracher said. "We work to return these post-foreclosure properties, which are now lender-owned, to private ownership at great values." CEO/President Tony Isbell said despite government moratoriums on foreclosures in 2009 that kept the number of REO properties available to buyers flat during the second half of the year, continued to break sales records last year. "In 2010, we have already seen increased activity, and we are expecting that trend to continue. We do not expect a tidal wave of properties but a continued increase in inventory as loan modification programs fall well short of expectations."

Isbell said after failing to secure a permanent loan modification, delinquent homeowners have two main options: to short sale their property, which can be a cumbersome process, or to hand over the keys and the deed through a Deed In Lieu process. "We feel that many frustrated homeowners will opt for the second option, which will translate into much larger REO volumes for lenders and for

"Record traffic indicates that buyers have found and are waiting for our newest offerings each month. We fully expect to be able to supply more buying opportunities each month, as banks free up more and more of their post-foreclosure inventory to the online bidding system."


Thousands of homes are available each month on from the nation's largest lenders, builders and real estate brokerage firms. Auctioning real estate exclusively online since 2001, utilizes technology to make real estate transactions less cumbersome and more cost effective for all parties. has sold more than 25,000 homes online and was recently ranked as the country's number one sales team in team transactions two years in a row in the Lore Magazine/Wall Street Journal/Real Trends "Real Estate Top 200."

Contact Information

  • Contact:
    Daphne Shannon
    Marketing Director
    Email Contact
    (256) 549-4463