Foreclosure.com Owner to Acquire Property.com

Brad Geisen continues to build online real estate empire to expand
opportunities for future homebuyers and investors nationwide

BOCA RATON, Fla., July 23 /PRNewswire/ -- Foreclosure.com Founder,
President and CEO, Brad Geisen, announced today that he has reached an
agreement with "Domain King" Rick Schwartz to acquire the domain name
"Property.com," paving the way for his entry into a new market.
With Property.com Geisen intends to create a one-of-a-kind - and
convenient - one-stop online real estate marketplace that is easy-to-use and
navigate. The Web site will serve as an easily accessible national real estate
classified that is going to be free to all visitors, providing sellers, buyers
and investors with a whole new concept of marketing and finding homes on the
Web.
According to Geisen, the acquisition of Property.com will allow him to
focus his efforts on a different and potentially much larger segment of the
real estate market. In fact, in Geisen's opinion, the niche foreclosure
market, which is Foreclosure.com's market, represents just 2 percent of all
available real estate inventory.
"I'm going after the 98 percent of the real estate market outside of the
foreclosure business," said Geisen. "For the past several years, I've built
and run one of, if not 'the,' most successful Internet foreclosure businesses,
but the business was always exclusively distressed real estate. I've achieved
in Foreclosure.com what I set out to accomplish and I am ready for a new
challenge in a different market. I intend to shift my focus on developing my
new ideas that will revolutionize how homes should be listed, viewed and
purchased. I've developed the critical skills that I intend to apply to this
new market," said Geisen.
Property.com will include all listing types, including those indexed in
the Multiple Listing Service (MLS), creating a database that could surpass
more than 15 million homes, but not including distressed properties, which
will remain the business of Foreclosure.com. The best part is that it will be
totally free to search for potential buyers and visitors, and sellers will be
able to upload and edit their own personal listings at no charge.
It's a wide-open model that Geisen knows will create an invaluable
resource for just about anyone interested in real estate.
"I'm raising the stakes and pushing all my chips to the center of the
table," said Geisen. "Foreclosure.com and my related companies have been
leaders in their spaces for nearly a decade. I've seen what's been wrong with
the way things were done and I've developed the methods to fix them. I have
the knowledge and resources to take this to a whole new level ... and that's
what I plan to do." Geisen revealed the new Property.com will be unveiled
sometime in 2009. The specific terms of the deal to acquire Property.com were
not disclosed. However, Geisen indicated that the value of the deal is one of
the largest URL purchases to date.
That's a deal that has the seller Rick Schwartz -- who is known as the
"Domain King" -- smiling from ear-to-ear. He purchased Property.com for
$750,000 in 2005 and was recently introduced to Geisen through Kevin Leto of
BigTicketDomains.com about a possible re-sale.
"My job is to acquire prime, industry-specific domain names with large
volumes of natural type-in traffic and eventually develop them to their
fullest potential by partnering with leading companies in their respective
fields, which I have been doing for more than a decade," said Schwartz.
Stay tuned for frequent updates and milestones for the new Property.com.
Feel free to visit the Web site in its current form. However, as mentioned
earlier, the complete re-launch will not be official until sometime in 2009.
About Brad Geisen and Foreclosure.com
Ten years ago, Brad Geisen founded Foreclosure.com and built it over time
to a company with more than 1.8 million foreclosure, preforeclosure,
bankruptcy, FSBO and tax lien listings in one place, Foreclosure.com delivers
America's largest and most accurate searchable database of foreclosed homes
and distressed property information to its customers and business partners.
Based in Boca Raton, Florida, Brad Geisen and Foreclosure.com work with
hundreds of top lending institutions and government agencies to list diverse
property types on its Web site, including Real Estate Owned (REO); Department
of Housing and Urban Development (HUD); Department of Veterans Affairs (VA);
Fannie Mae; and other government agency and financial institution properties;
as well as listings from an extensive network of corporate sellers. On the
Web: www.foreclosure.com.
About Rick Schwartz
Rick Schwartz, aka "Domain King" and "Webfather," is the CEO, President
and Cofounder of T.R.A.F.F.I.C. (www.TargetedTraffic.com) -- the premiere
domain conference for the domain industry. It is both the oldest and largest
and attracts over 500 of the top professionals in the industry in a by
invitation only event. As one of the early domain pioneers dating back to
1995, Rick has a knack for predicting big trends and getting it right. He may
have been the first to recognize the value of "type in" traffic which is now
commonly referred to as "direct navigation" -- the most potent and targeted
traffic on the net. Rick has a prime portfolio of one and two word domains,
and is considered by many to be among the leading experts on domain names,
traffic, Web site flow and valuation.
SOURCE Foreclosure.com

Thomas Myers, Foreclosure.com, tmyers@foreclosure.com, +1-561-981-5337 ext.
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