RealtyBid International is auctioning close to 1,000 repossessed homes around the country through its Web site this month.
In recent weeks, the Rainbow City, Ala., company has added hundreds of real estate owned properties, many from Missouri, Ohio, Utah and Wisconsin. RealtyBid's chief executive and president, Tony Isbell, said that despite government moratoriums on foreclosures that kept the number of such homes available to buyers flat during the second half of 2009, his company's sales grew.
"In 2010, we have already seen increased activity, and we are expecting that trend to continue. We do not expect a tidal wave of properties, but a continued increase in inventory as loan modification programs fall well short of expectations," he said in a press release issued last week.