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NewCondosOnline.com and RealtyTRac.com Team Up to Market Foreclosure Property

San Diego, CA PRWEB) September 24, 2008 -- NewCondosOnline (http://www.newcondosonline.com), the largest online portal for new condo developments worldwide, and Realty Trac® (http://www.realtytrac.com), the nation's leading online foreclosure marketplace, have joined forces to market foreclosure opportunities to consumers. The companies have collectively realized the urgency in moving foreclosure inventory and the impact that will have on the future of the housing market. Due to the fact that over 80% of home buyers are looking for homes and condos online, providing them as many choices and resources as possible is a key element in fostering sales.

"It will be crucial for the future of the new home market to move standing inventory. That includes current condos (http://www.newcondosonline.com) and homes in standing buildings, units coming up in projects currently under construction, and of course foreclosures and other bank owned assets. To do so, it will be imperative to use strategic marketing methods the way one would for an upcoming new construction development," says Brent Gleeson, President of NewCondosOnline.com.

Realty Trac accomplishes this goal by not only providing a user-friendly platform for finding foreclosure property nationwide, but by giving consumers the information they need to learn about the process. Realty Trac offers educational information about foreclosures, information on how to by foreclosure property, resources for selling one's current home, as well as other tools and services applicable to home selling and purchasing.

The companies realized a unique opportunity to leverage NCO's international user base and sophisticated technology to further expand the exposure for Realty Trac's inventory. Realty Trac provides daily real time updates to their property listings on ttp://New Condos Online (www.newcondosonline.com). Through these marketing efforts NCO will be increasing visibility for these properties and helping to educate buyers about this unique opportunity.

"New Condos Online still has a sound commitment to marketing new construction property across the globe but there is an immediate issue that we need to deal with in the United States, and that is moving standing inventory. Until we make a large dent in selling units that are on the market, it will be much harder for builders to gain approval for new developments, much less get funding, " says Brandon Fishman, CEO of NewCondosOnline.com.

About New Condos Online

Newcondosonline.com (http://www.newcondosonline.com) is the nation's largest new condo advertising website. With thousands of clients across the globe, New Condos Online is the most effective resource for builders to advertise their new condo developments on the Internet today. New Condos Online has recently launched a new global website to showcase all the new condo (http://www.newcondosonline.com) developments that the website represents. Founded in 2004, NCO has quickly become the #1 website where all home buyers start their new condo search.

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix and No. 53 on Inc. magazine's 2006 Inc. 500 list of the nation's fastest-growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal's Real Estate Journal. For current news and information regarding foreclosure-related issues and trends, visit our blog at www.ForeclosurePulse.com.

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