Bid4Assets Sells its 60,000th Real Estate Property; Sees Increased Buying Activity
Bid4Assets, Inc., (www.bid4assets.com), an online real estate auction company, announced today it has successfully auctioned its 60,000th real estate property since its inception.
Silver Spring, MD (PRWEB) May 30, 2009 -- Bid4Assets, Inc., (www.bid4assets.com), an online real estate auction company, announced today it has successfully auctioned its 60,000th real estate property since its inception. In addition, the company announced that in the 1st quarter of 2009 they experienced a 19% increase in the number of real estate properties sold through online auction on its site versus the 1st quarter of 2008.
"Feedback from our sellers state that the completion rate for their auctions is the best in the industry. They attribute their high sales rates to our site security measures, such as ID Verification of buyers, and Bid4Assets' selling power which stems from a large, ever growing number of investors who register to bid on our site. In the early months of 2009, these investors have become especially active, creating an ideal marketplace for both buyers and sellers of real estate." says Christina Osberg, CEO.
Bid4Assets has been auctioning property around the nation online since November 1999. The company auctions all types of real estate online, including homes, land, and commercial property. In addition to working with private sellers, Bid4Assets auctions real estate for banks, attorneys, non-profit organizations, county governments and federal agencies. Auction high bid prices have ranged from less than $100 to several million.
Some auction highlights include selling a mansion in which construction was partially finished in Arlington, TX for the US Marshals Service for $1.18M and the sale of a 34 home portfolio from a private seller for $330K in 2008. A corner lot zoned for residential use in Brooklyn, NY went for over $400K for another government seller. More recently, Bid4Assets has created a niche market selling distressed homes with $1 minimum bids and no reserve price.
"I'm encouraged to see Bid4Assets reach this milestone amid such a troubling real estate market," says Jesse Loomis, VP Business Development. "Many of our sellers are buying bank-owned properties in massive quantities for pennies on the dollar. By auctioning these online starting at $1, investors and first-time home buyers are purchasing vacant homes at a significant discount. Most of our buyers make the necessary repairs to restore the home and either move in or place tenants. This is going a long way to help stabilize local markets that have been plagued by poorly maintained foreclosures. There is still much work to be done and plenty of opportunity for savvy buyers. I'm confident we will hit the 100K mark even faster!"
About Bid4Assets, Inc.
Bid4Assets (http://www.bid4assets.com) is the online auction marketplace that specializes in absolute auctions - real estate starting at $1 with no reserve price. Bid4Assets conducts online auctions for a growing list of federal and state government agencies, including more than 40 counties nationwide, the U.S. Marshals Service and the U.S. Department of Treasury. The privately held company, launched in 1999, is based in Silver Spring, Md.
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