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World's Largest Online Land Auction Ever Begins Tomorrow

IRVINE, Calif., Oct. 14 /PRNewswire/ -- LandAuction.com announces the world's largest online land auction beginning tomorrow, October 15, 2008, at http://www.LandAuctionBid.com, at 12 noon (EDT).

Thousands of lots across the U.S. will be available at "rock-bottom prices," says Robert Friedman, Chairman of LandAuction.com, which is conducting the month-long land liquidation.

"Supply and demand is heavy on the side of supply and that has created a nationwide buyer's market not seen in the raw land sector for over a decade," Friedman says. "This blockbuster online land auction will be an extraordinary opportunity for people to purchase land in more than 30 states for pennies on the dollar."

This 2000+ parcel land auction will be sold absolute with no reserve prices. "If there's a bid, there's a buyer," Friedman says. "Minimum bids are as low as $100," he adds.

"There will be some parcels once valued at $100,000 that will be available for $100 in this online auction," Friedman says. "And the great thing about it is that people can do it online, at home and in their pajamas. This is a true 'land grab,' like the California Gold Rush in the 1800s. This is a genuine land auction blowout and clearance sale event. There have been plenty of online land auctions, with LandAuction.com at the forefront of the industry. However, nothing of this scale has ever been attempted before."

The properties in the auction range from small residential lots to large parcels as big as 200 acres. Many of the properties are zoned residential and are estimated to sell for less than $1,000. There are so many parcels that region specific "packages" of land have been assembled so that for one bid, an individual can own multiple lots in an area. The auction is broken into three segments that end on October 26, November 2 and November 9. For more information, go to http://www.LandAuctionBid.com.

Land auctions are a part of today's real estate landscape. As the credit crunch slowed the economy, values of raw land dropped significantly following the same trend as the housing market.

"We're conducting this auction because we're overstocked," Friedman says. "I decided an online blowout absolute auction was the best way to sell it all at once. This auction will be a free for all with low starting bids, no hidden reserves and amazing deals for the winning bidders."

Friedman points out that this auction enables bidders to take advantage of today's real estate market without needing vast amounts of capital.

The appeal of raw land is its potential, according to real estate experts. Human creativity and ingenuity has turned raw land into everything from housing developments, to farmland, to nature preserves, to off-road vehicle parks, to ski resorts, to vacation sites. The long-term forecast for raw land in the U.S. is optimistic since the key driver is population and the U.S. has one of the highest rates of population growth.

About LandAuction.com

Since 1989, LandAuction.com (and online auction component LandAuctionBid.com) have grown to become the largest auctioneer of raw land for sale inNorth America. The company specializes in bringing to market a variety of properties that fit the needs of both the first time buyer and the experienced land investor. LandAuction.com sells direct to the buyer and strives to be known in the marketplace as a "Market Maker" of affordable real estate.

Contact: Rick Weinberg

949-639-3558 (O) / 949-648-3815 (Cell)

rickw@landstaff.com

SOURCE LandAuction.com

Tags: ,CPR,MLM,ITE,RLT,CA-L and Auction.com

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