foreclosureradar.com Expands

foreclosureradar.com, a US online foreclosure marketplace aimed at professionals, rather than consumers, is expanding into four new states.

From its home base in California, foreclosureradar.com will soon add Arizona, Nevada, Oregon and Washington.

foreclosureradar.com is aimed at “professional” investors, realtors, government agencies and financial institutions and offers what it says is the freshest foreclosure information, including exclusive daily auction updates, under the mantra: “No fluff. No hype. Just better insight for savvy professionals”.

The site prides itself on providing credible, up-to-date data. foreclosureradar offers its members reliable information on properties in every phase of the foreclosure process from preforeclosure (when a homeowner is given a notice that they are in default), to auction (when the lender takes bids on foreclosed property in a public forum), and REO (or real estate owned, where the lender takes ownership of a property that fails to sell at auction).

The main site runs on a subscription model, which costs $49.95 a month. The company has already created a free online community, foreclosuretruth.com, for participants in the foreclosure market.

Unlike other foreclosure websites, foreclosureradar.com hasn’t lost sight of the deeper issues involved in foreclosure. As they write:

“Underneath the data, beyond the website, lies our real difference: An unflinching commitment to speaking the truth about the foreclosure marketplace. Foreclosure is an unpleasant process. There are human beings behind the numbers. Those who want to get rich quick should seek other venues. It’s time to clear the air of hype.”

The website’s founder and CEO, Sean O’Toole, nearly lost his own home to foreclosure 20 years ago, and set up the website as a result of his experiences later on as an investor in foreclosed property.

1. realtytrac.com Alerts Renters of Foreclosures

   realtytrac.com has made a name for itself as a leader in foreclosure listings and the company's latest innovation looks set to reinforce this position....

2. New Website Targets Foreclosures

   A new US website, launched late last year, is offering a bid-based buying model to move foreclosed properties. countdowntobuy.com works by first examining homes and establishing their estimated value. These homes are then listed on the website slightly above their estimated value, and reduced at a rate of 1 percent per day until the price matches up with a buyer’s bid. ...

3. Newspaper Questions realtytrac.com Numbers

   US website realtytrac.com, which provides national foreclosure data, has been accused of undercounting the number of properties scheduled for auction in the Atlanta, Georgia. ...

4. foreclosure.com Powers New Short Sale Platform

   The founder of foreclosure.com, Brad Geisen, has launched a new website to help facilitate short sale transactions. ...

5. Foreclosure Activity High Says realtytrac.com

   Hitwise figures for January show an increase in traffic to website listing foreclosure properties. It’s no wonder then, that realtytrac.com’s January 2009 Foreclosure Market report, released this week, shows foreclosure filings were up 18% on January 2008....