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Interest in Foreclosures Fueling RealtyBid.com Success

RAINBOW CITY, Ala., May 19 PRNewswire — New reports are released almost daily documenting the continuing rise in home foreclosures. Along with this increase in foreclosures has come an upturned interest in purchasing foreclosure homes. At RealtyBid.com, the nation's leader in online home auctions, this interest in purchasing foreclosure homes is fueling the website's unprecedented success.

RealtyBid.com CEO/President Tony Isbell said, "We are definitely seeing a growing number of people looking for real estate bargains through RealtyBid.com. The swell of bank-owned foreclosure properties populating the majority of our website is a huge appeal to real estate bargain hunters."

According to Isbell, in April, RealtyBid.com saw its greatest number of unique visitors to the site ever, more than 630,000. "To put that number into perspective, in April of 2007, RealtyBid.com's total number of unique visitors was just more than 122,000. That's an increase of more than 413 percent in just one year. And, May is on track to surpass April's record.

"The rising tide of foreclosures around the country is definitely piquing the interest of investors and savvy home buyers who are hoping to find real estate deals in this buyer's market, and many of them are finding the deal they are looking for on RealtyBid.com."

He added, "We've offered more than 20,000 properties around the country via online auction over the past year, and unlike some sites, access to view property details and bid on our properties is always free. So, the transparency and open nature of RealtyBid.com is definitely a facet of the site that keeps bidders coming back."

For RealtyBid.com, 2007 was a record-breaking year with a 165 percent increase in property inventory over 2006 and a 157 percent increase in property sales over 2006. RealtyBid.com's 2007 inventory of properties offered for auction represented $542 million in asset value. Isbell emphasized that company projections foresee an even stronger 2008.

Founded in 2001 by Isbell and Executive Vice President Mike Keracher, RealtyBid.com specializes in the expedited sale of real estate through its innovative online auction platform. The company has become one of the most vocal advocates for the use of Internet technology as a means of bringing real estate buyers and sellers together. RealtyBid.com's team has sold and closed more than 12,000 properties online.

SOURCE RealtyBid.com

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