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Study Finds Foreclosure Freeze Does Not Deter Foreclosure Buyers

NationalMortgageProfessional.com
Nov 23, 2010

RealtyStore.com, a provider of local residential foreclosure listings, ranked as the most visited foreclosure listings Web site in the October Hitwise Monthly Usage Report for the Real Estate Category. RealtyStore.com had previously held 20th place in January 2010, and again approached top 20 status in July, August and September 2010. RealtyStore.com’s October visitor volume exceeded one million unique visitors, which propelled it into 19th place among all real estate sites in the U.S. “It was great to welcome another one million unique visitors to the RealtyStore Web site for October,” said Tim Chin, chief executive officer of RealtyStore. “While other top ranked real estate Web sites covered traditional listings, valuations and rental properties, RealtyStore remained dedicated to empowering a diverse customer base searching for the most trusted source of information on foreclosed and distressed real estate.” Although controversy of a foreclosure freeze dominated the headlines for much of October, owner-occupant homebuyers and real estate investors both continued to utilize RealtyStore.com in record numbers. The freeze was caused when it was revealed that large volumes of previously filed foreclosure documents were potentially signed in rapid order, without proper review by processors. This activity was labeled “foreclosure robo-signing." Banks temporarily stopped foreclosure proceedings in mid-October until internal paperwork process audits were conducted and passed. “While others took a wait-and-see approach during October, visitors to RealtyStore.com continued to grow and displayed an intense interest in finding great deals on foreclosures and distressed property,” said Chin. “RealtyStore will continue its unrelenting focus in serving bargain real estate shoppers by providing them the best, industry leading foreclosure listings quantity, quality and variety.” For more information, visit www.RealtyStore.com.
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