During a time of waning property sales and a faltering housing market, Internet auction sites report to be thriving. Realtybid.com announced last week that its property sales increased by 12.4 percent during the first half of 2008, compared to the same period in 2007.
Tony Isbell, realtybid.com’s president and CEO, commented, “To see that kind of increase during the first half of this year when our country saw declines in existing home sales every single month is very encouraging for our company.”

Realtybid.com also saw its Web site traffic jump by 380 percent over last year’s figures, and the number of new registered bidders rose by 50.4 percent. 
According to Isbell, today’s challenging environment is an excellent time to buy real estate. He said this is especially true for those who understand the discount and investment potential of online auction services. “It’s exciting for us to see our site traffic, inventory, and sales grow each month,” added Isbell, “but we are even more excited because we realize more and more buyers are discovering realtybid.com and realizing that online home auctions are a perfect fit for the current buyer’s market.”
Realtybid.com said it formidably advocates the use of Internet technology as an efficient means of bringing together real estate buyers and motivated sellers, such as banks and other lending institutions. The company has sold more than 12,000 properties via its online auction platform since its inception in 2001.