SPECIALIZED ASSET MANAGEMENT LAUNCHES PARTNERSHIP WITH REALTYTRAC TO MARKET ITS FORECLOSED PROPERTY LISTINGS
 
Specialized Asset Management LLC (https://www.samreo.net), a national provider of asset marketing and disposition services to mortgage lenders, servicers, and investors, recently announced that it has partnered with RealtyTrac (www.realtytrac.com), the leading online foreclosure marketplace for default, auction and bank-owned REOs. The partnership gives additional market exposure for foreclosed property listings provided by Specialized Asset Management LLC, displaying them prominently to RealtyTrac’s 3 million unique monthly visitors.

“Marketing our REO assets to RealtyTrac’s 3 million unique monthly visitors provides us with additional marketing visibility to help liquidate our REO assets,” said Rudy Krupka, Vice President, REO, at Specialized Asset Management. “Our strategic partnership with RealtyTrac will assist our agents in promoting the properties to interested buyers across the country.”

Homebuyers and investors using RealtyTrac can easily make online offers or inquiries on the SAM-provided REO properties. Users can simply click on the “Bank Owned” tab on any RealtyTrac search results page and look for properties with the “Request Info” button.

“Many of our users are specifically interested in purchasing bank-owned properties, and we want to give those users every opportunity to find and purchase those properties,” said Rick Sharga, Senior Vice President for RealtyTrac. “This exciting new partnership with Specialized Asset Management does just that by delivering a new pool of REO properties that our users can more easily purchase.”

In 2009, a record 2.8 million homes received a foreclosure filing. This represents a 21 percent increase in total filings from 2008. The number of foreclosures is expected to increase significantly in 2010 as millions of option ARMS and ALT-A mortgages reset in the next 12 to 18 months and double-digit unemployment plagues the national economy this year.