RealtyBid.com, a national online auction company based in Rainbow City, Ala., is offering more than 2,000 REO properties for auction during the month of December. CEO Tony Isbell said the 18 lending institutions offering foreclosure homes are highly motivated to sell. "These lenders need to get as much of this foreclosure inventory off their books before the end of the year as possible," Mr. Isbell said. "Plus, they are preparing for the large influx of new foreclosure properties they will be dealing with in 2009. Many of them have mandated that these properties must sell by Dec. 17." Thousands of homes are available each month on RealtyBid.com from lenders, builders and real estate brokerage firms.
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