Real estate auction sales have climbed 10 percent year-over-year since 2000, according to CNNMoney.com report, and the numbers continue to rise (14 percent in the first quarter of 2010) as the housing inventory keeps piling up.

It’s a billion dollar business … $17 billion in 2007 alone, to be precise. And that figure, too, will likely rise soon if it hasn’t already.

That’s because auctioneers are holding two or more auctions per day throughout the nation to keep pace. REDC, which is among the biggest companies in the real estate auction space, is on pace to exceed 520 such sales in 2010 — a 50 percent increase compared to just last year.

What’s the reason for the staggering across-the-board increases?

Les Christie explains:

“The biggest auction advantage is speed, of course: From first marketing to closing can be less than 10 weeks … There is such a huge volume of REOs on the market — 92,000 homes were seized in April alone — that banks are anxious to turn the properties over quickly. Rather than waiting for the local housing market, they turn to auctioneers.”

To check out the homes for sale at upcoming foreclosure auctions near you click here (REDC) and here (RealtyBid).

The overwhelming amount of distressed real estate has dragged down home prices virtually nationwide and will continue to do so as long as homeowners continue to struggle meeting their monthly mortgage obligations, according to Moody’s Economy.com.

From the report (via DSNews.com):

“We expect that house prices will continue to decline because the pipeline of distressed mortgages is substantial and because the price discounts for distress sales weaken all house prices.”

This is music to the ears for buyers and investors. And it’s a major reason the best foreclosure-related opportunities fly off the market.

Getting in on the action now, before the prices begin their gradual climb up, is an incredibly smart decision now and in the future.

It’s more than likely instant equity!

There are also a ton of options from which to choose — there is something for everyone out there if you dig deep enough.

Moody’s predicts a “rebound” by 2012, meaning that in two years these buyer-friendly conditions and amazing deals could be history. And there’s no telling if the getting, from a buyers/investors perspective, will ever get this good anytime soon.

Act fast before it’s too and help yourself … and a homeowner!

Another city, more happy homeowners.

REDC — one of the nation’s most reputable and successful real estate auction companies — unloaded more than three dozen homes this weekend at a foreclosure auction in Golden, Colo., according to CBS4Denver.com.

All in a day’s work for the auctioneer, which is among the best at getting distressed homes off the market and occupied at a remarkable rate, selling more than 13,000 properties so far this year worth about $675 million.

Impressive to say the least … and we’re not even at the half-way point of 2010.

It’s an efficient process that gets families into homes, eliminates vacancies and takes a financial burden off banks.

So it’s not surprising that all parties — and communities — embrace REDC wherever and whenever it rolls into a new town, says company spokesperson Brad Fields:

“It’s taking a process that is traditionally a little slower and being able to very quickly get buyers into the property and revitalize those neighborhoods and create homes. It’s a little bit different of a process, but one that buyers shouldn’t be afraid of.”

REDC allows buyers and/or their representatives to place bids in-person or online. The process is safe, easy, and compliant with all legal regulations.

To check out the homes for sale at the upcoming foreclosure auctions, as well as to see when REDC will be coming to a city near you, click here.

Well that was fast!

Just two week’s after Nicolas Cage’s 11,817 sq. ft, six bedroom/nine bathroom home in Bel-Air, Calif., failed to sell at public auction, Foreclosure.com already has it featured in its nationwide database of more than 1.8 million distressed real estate listings.

To view the foreclosed home of Nicolas Cage, as well as photos of the million-dollar mansion, on Foreclosure.com click here.

It’s currently on the market for a cool $12.75 million. However, the mansion, which legendary crooners Dean Martin and Tom Jones once called home, was on the market for as much as $35 million not too long ago.

For more background on Cage’s financial meltdown and other run-ins with foreclosure click here.

Not even a month into the 2010 Major League Baseball season and there is trouble afoot in the skies above Wrigley Field in Chicago, Ill., which is perhaps the most historic ballpark in the sport.

Lakeview Baseball Club — located at 3633 N. Sheffield Ave. — has been hit with foreclosure, defaulting on a $2.7 million loan, according to ChicagoBreakingBusiness.com.

The club is located just across the street from where the Chicago Cubs have played their home games since 1916. In fact, it’s in the heart of “Wrigleyville,” offering fans unique rooftop views into the stadium for a fraction of the cost to sit inside.

Indeed, owners of these buildings actually sell rooftop seats; however, they must now share a percentage of their earnings with the organization after a legal dispute was settled a few years ago.

Lakeview is well known for the sign “Eamus Catuli!,” which translates loosely from Latin to “Let’s Go Cubs!,” hanging from the top of the building.

The good news (for Cubs fans, anyway) is that it will continue to remain open until the foreclosure action is resolved; however, the owners of the club were replaced with a judge-appointed receiver to ensure that the funds are distributed properly.