Industry NewsTechnology

REDC relaunches

Company paid $1.7M for domain last year

Auctioneer Real Estate Disposition Corp. has relaunched the website to handle the increased volume of online auctions for foreclosed homes, commercial properties, land, and performing and nonperforming notes, the company said.REDC, which bought the domain in March 2009 for $1.7 million, said in a press release that the site has been redesigned to support 500,000 monthly unique visits. The site allows users to register for auctions, submit pre-auction bids, and participate in online auction events.The site's listings search tool this week listed 1,724 residential properties, 118 commercial, 123 parcels of land and 115 notes scheduled for auction.In a press release last month, REDC said it had auctioned 9,250 properties for $512 million so far this year, and was scheduled to hold a record 125 auctions in 65 days. *** What's your opinion? Leave your comments below or send a letter to the editor. ...