The market is white hot. The demand is there. So is the inventory.
Irvine, CA (Vocus) April 16, 2010
We have a good story for you: Foreclosure auctions are red hot as Real Estate Disposition LLC, the nation's leading real estate auction company, launches a five-day Florida auction series tomorrow featuring 400+ new foreclosures in Orlando, Miami, Ft. Myers, Tampa, Jacksonville, including several million-dollar properties. REDC has auctioned a U.S.- leading 9,250 properties for $512 million so far this year (1,250 in Florida for $52M) and is in the midst of a record 125 auctions in 65 days.
"2010 is The Year of the Foreclosure," says REDC CEO Jeff Frieden, referring to the three to seven million foreclosures hitting the market this year, double from 2009. "The market is white hot. The demand is there. So is the inventory."
Media is welcome to preview and cover the auctions. Media may shoot video/photos of any foreclosure prior to or after the auctions. Media may interview prospective first-time homebuyers prior to an auction at the properties they intend to bid on. At the auctions, there will be great visuals and photo opps for you as a majority of the foreclosures are expected to sell, many to jubilant first-time homebuyers. All bidders are available to interview.
Orlando Saturday Apr 17 at 9:30 a.m. at Flordia Hotel & Conference Center;
Miami Sunday Apr 18 at 9:30 a.m. Miami Beach Convention Center;
Ft. Myers Monday Apr 19 at 6:30 p.m. at Harborside Events Center;
Tampa Tuesday Apr 20 at 6:30 p.m. at Tampa Convention Center;
Jacksonville Wednesday Apr 21 at 6:30 p.m. at Prime Osborn Convention Center.
2113 Silver Leaf Ct Longwood, FL 32779-- 7972 sq ft 13 room mansion previously valued to $1.18M that has a starting auction bid of $249K;
1017 East Kaley Street Orlando, FL 32806-- 3375 sq ft house previously valued to $722K that has a starting auction bid of $189K;
1800 Ne 114th Street #807-808 Miami, FL 33181-- 3410 sq ft 6 room condo previously valued at $680K; starting auction bid $69K;
12833 Sw 20th Ter Miami, FL 33175 -- 1860 sq ft 4 room house previously valued to $309K; starting auction bid of $25K;
2612 Windwood Pl Cape Coral, FL 33991-- 3600 sq ft 12 room house previously valued to $542K; starting auction bid $69K;
2223 Sw 28 Ter Cape Coral, FL 33914-- 2112 sq ft house previously valued to $563K; starting auction bid of $69K;
16323 Ashington Park Dr Tampa, FL 33647 -- 3017 sq ft 10 room house previously valued to $501K; starting auction bid of $99K;
11024 Rockledge View Dr Riverview, FL 33569-- 2432 sq ft 11 room house that has a starting auction bid of $59K;
12348 Harbor Winds Drive Jacksonville, FL 32225-- 1908 sq ft 8 room house previously valued to $280K; starting auction bid of $59K;
12262 Marbon Estates Ln We Jacksonville, FL 32223 -- 1740 sq ft 7 room house that has a starting auction bid of $59K;
To see all properties, go to REDC's web site, http://www.Auction.com.
The dismal state of foreclosures in the U.S. and Florida is staggering. The State Foreclosure Prevention Working Group, which is made up of state banking regulators and attorneys general, released a report that reports, "Despite efforts of servicers, homeowners, and the government, the foreclosure crisis continues to worsen. These signs point to more foreclosures in 2010 than in 2009."
In response to the millions of foreclosures hitting the market, REDC ramped up operations to auction bank-owned residential homes and condos, commercial buildings and notes in more than 47 states, both in live auctions and online. Thousands of these foreclosures will change hands through REDC's auctions, which directly impacts the local and national economy by helping to minimize the ramifications of another economic crash. REDC auctions have emerged as a hot new trend in home buying and investing, whether it's residential, commercial real estate or notes.
Since its launch in 1990, REDC has helped tens of thousands of families and individuals purchase homes for affordable prices through its unique auction process, establishing the company as the global leader in real estate auction marketing.
“REDC's real estate auctions have gained tremendous appeal and popularity among buyers and sellers in today’s market,” Frieden says. “In fact, the real estate auction industry now plays a major role in property sales in the U.S. As a result, REDC has helped make auctions a preferred choice over conventional, time-consuming and expensive real estate sales methods.”
REDC also conducts commercial and notes auctions, which can also be reviewed at http://www.Auction.com. REDC's headquarters are in Irvine, California with offices in Dallas, New York and London.
Rick Weinberg | VP, Public Relations
Real Estate Disposition LLC| http://www.AUCTION.com
1 Mauchly, Irvine, CA 92618
Direct/Fax: (949) 639-3558 / Mobile: (949) 648-3815
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Real Estate Disposition, LLC, One Mauchy, Irvine, CA 92618 United States
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