Online foreclosure auctions draw hundreds of new bidders

Palm Beach County’s switchover to Internet-based auctions of foreclosed properties has drawn an influx of new bidders. Almost 700 bidders have already registered for the online auctions since last week’s announcement of the change. There were roughly 800 bidders who signed up during the entirety of 2009, when one was required to be present at the courthouse cafeteria in order to bid. Just 480 bidders registered in 2008. The vast majority of this year’s 694 registrants thus far are from Florida, though the bidding pool represent 20 different states, plus Canada and Italy. [Palm Beach Post]