Online Auction Bails Out California Builder

The LFC Group of Companies successfully sells more than fifty new homes in the California Central Valley through an online auction on their residential auction website, Freedom Realty Exchange (www.FRE.com/193R5).

Although the California Central Valley has been considered 'ground zero' of the country's foreclosure crisis, this online auction is proof that there are still buyers out there in the market for a new home, and they would much rather get a deal on a never-lived-in home than a foreclosure or REO

Newport Beach, CA (PRWEB) June 5, 2008 -- The LFC Group of Companies, the country's premier online real estate auction firm, delivers yet another successful auction marketing campaign, selling more than fifty new homes across three cities in the California Central Valley through an online auction on the Freedom Realty Exchange website (www.FRE.com/193R5).

More than 150 bidders from across the country competed for the homes, not in a stuffy, chaotic hotel ballroom or convention center, but from their own computers, placing nearly 500 bids throughout the online auction campaign. The flurry of bidding activity continued for fourteen days and nine hours, until bidding ceased in the wee hours of the morning bringing the online auction to a close. The winning bidders were thrilled with the incredible deals they received on their brand-new homes, and the current homeowners in the communities were happy to see their new neighbors moving into once-empty homes.

"Although the California Central Valley has been considered 'ground zero' of the country's foreclosure crisis, this online auction is proof that there are still buyers out there in the market for a new home, and they would much rather get a deal on a never-lived-in home than a foreclosure or REO" comments Bill Lange, president of the LFC Group of Companies. "These homebuyers understand and embrace this unique sales method and appreciate the transparency and convenience of the Freedom Realty Exchange's sophisticated online auction technology."

This auction marketing campaign was another landmark event for the LFC Group of Companies, in its mission to help builders, developers and financial institutions effectively market and sell standing inventory in the current housing slump. For more information about Freedom Realty Exchange's online auction marketing program, go to www.FRE.com.

Freedom Realty Exchange - part of the LFC Group of Companies For more than 30 years, the LFC Group of Companies have served numerous Fortune 500 companies, real estate developers, investors, financial institutions and government agencies by auction-marketing thousands of commercial, industrial, land and residential properties with an aggregate value well in excess of $5 billion. www.FRE.com

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