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by CareyBot

The Los Angeles Times Media Group has joined a real estate auction venture that is selling bank-owned foreclosure properties and builder-owned properties. The effort, dubbed Zetabid, seeks to bring new advertising opportunities to the media company in a time of declining ad revenue while broadening the pool of potential buyers for properties sold at auction. Brokerage company Catalist Homes earlier this year announced a partnership (see Inman News Special Report) with auction company DoveBid to conduct live ballroom-style auctions and parallel online auctions for bank-owned -- also known as real estate-owned or REO properties -- and builder-owned properties. The first auction is scheduled Sept. 27-28 at the Ontario Convention Center in Ontario, Calif., and there are plans to expand th...