Countdown To Buy Turns In Impressive Pilot Results With Its Innovative Online Real Estate Marketplace
Provides Mid-Year Progress Update
BETHEL, CT, August 12, 2010
Countdown To Buy, a next generation online real estate marketplace that offers fair and effective solutions to buy and sell properties, today provided a progress update and strategic commentary on its online marketplace that removes uncertainty and restores confidence in the real estate transaction model for foreclosure and distressed properties."Over the last seven months, Countdown To Buy has demonstrated that by working closely with listing agents, an accelerated sales cycle al estate agentscan be achieved without sacrificing sales price. Buyers and their agents are provided direct access to independently prepared valuation reports, and a trusted offer management platform that reduces prices 1% per day until a sealed offer meets the daily price," commented Tom Furey, Managing Partner of Countdown To Buy.
Key Company Metrics and Accomplishments
• Recognized as a top industry innovator by Bank Technology News and Connecticut Quality Improvement Award
• Secured over $1.5 million in funding from investors
• Successfully completed 2 pilot programs for leading financial institutions
• Obtained additional pilot commitments from domestic and international developers
• Featured properties in 19 states ranging in price from $20,000 to $680,000
• Sold more than 75% of all properties featured on the platform.
• Sold properties ranging in price from $20,000 to $220,000
• Average sales price exceeded comparable industry benchmarks
• Averaged 17 days from list to an accepted offer
• More than 90% of all accepted offers made it to closing
• Effectively improved overall sales performance on both new and aged REO properties
"We've been fortunate to work with large institutional clients that are open to innovation and willing to help us set a new standard for trust, transparency, and efficiency in real estate transactions. The new principles we introduced to the marketplace work well beyond REO so the foundation is now set to expand into Short Sales, help jumpstart or revive developments and subdivisions, and launch our high-end and international property pilots," commented Jim Hodson, Chief Executive Officer of Countdown To Buy.
In December 2009, Countdown To Buy launched its online real estate marketplace that allows qualified home buyers to purchase foreclosed properties in a uniquely efficient and transparent manner. For a video simulation of how the Countdown To Buy process works, please visit the Company's website at http://www.countdowntobuy.com or click on the following How It Works.
About Countdown To Buy
Countdown To Buy is an online real estate marketplace that automatically matches motivated sellers and qualified buyers in an environment of trust, transparency, and efficiency. The Company has a patent pending business process that reduces a property's list price each day within a pre-negotiated price range. The technology and marketing platform was built specifically to expedite the sales cycle in real estate transactions through a time-limited, objective, and confidential offer system. The Company services demand from banks, servicers, home buyers and investors through a streamlined technology process and unbiased transaction support. Please visit http://www.countdowntobuy.com.
Media Contact:
John Lovallo
Lovallo Communications Group
Telephone: 203-526-6371
Email: john.lovallo@lovallocommunications.com