Foreclosure sales activity is still going strong according to Real Estate Disposition Corporation (REDC), a real estate auction house based in Irvine, California. The company reported Monday that $68.8 million was generated from foreclosed property purchased this past weekend via live and online auctions.

“This weekend’s auction activities show the foreclosure real estate market continues to be a red-hot trend,” said Jeff Frieden, CEO of REDC.

REDC said the most funds were generated from their national online auction via the company’s website, which produced $37.8 million. Live auctions in Miami and Orlando yielded $14.1 million in purchases, and live auctions in Sacramento and Santa Clara resulted in $11.6 million in purchases. An additional $5.3 million in purchases were generated during live auctions in Washington D.C. and Richmond, Virginia.

“We’re very pleased with the results from the weekend’s auctions,” Frieden said. “Many first-time homeowners and investors walked away with incredible bargains throughout the country. Many people had winning bids on properties that were more than 50% less than the house’s previous high value.”

There were many “deals of the day,” according to REDC. In Miami, Florida one home sold for $63,000, 81 percent lower than its previous value of $328,700. A home in Baltimore, Maryland also sold for 81 percent less than its previous value, with a final price of $40,000. The most notable, perhaps, was a home in Orlando, Florida that sold for $22,500, an 86 percent drop from its previous high value of $138,000.

Frieden believes that auctions are a boost to the economy. “When a house sits vacant, everyone loses,” he said. “When REDC puts a family into a home, they’re paying a mortgage, property taxes, gas, electric and water bill, and they’re hiring landscapers, painters, and electricians – all of which fuel the economy, nationally and locally.”

REDC claims to be the nation’s leading foreclosed real estate auction firm. In the last two years the company has sold more than $6 billion in distressed assets, and REDC’s 2009 total sales are more than $2 billion. The company has conducted 312 auctions this year, during which 36,000 properties have been auctioned.