1 minute readAuction.com, the domain name purchased by Real Estate Disposition (REDC), generated $31.7m in foreclosure sales in an online auction campaign. The auction offered 770 assets in 45 states and saw traffic from thousands of online bidders from August 3 through August 23. The properties auctioned ranged from million-dollar mansions to smaller single-family houses. “This was our most aggressive foray into auctions on a national level, and it was a tremendous success,” said REDC/Auction.com CEO Jeff Frieden. The next monthly auction, to be held from September 21 through September 26, features foreclosures in more than 40 states. REDC has auctioned $1.3bn of assets so far in 2009. Write to Diana Golobay.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio