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Irvine-based Real Estate Disposition LLC became one of the country's busiest housing real estate companies during the downturn.
The company - better known as REDC - isn't slowing down, said Chairman Rob Friedman.
"We're expecting to grow, for at least another year," he said.
The company, which auctions off foreclosed homes for mortgage lenders as well as excess properties from struggling homebuilders, has helped sell more than $6 billion worth of homes since 2007.
More than 34,000 homes have been auctioned off this year by the company, which was formed in 1 989 by childhood friends Friedman and Chief Executive Jeffrey Frieden.
REDC auction events across the country have drawn tens of thousands of prospective homebuyers, as well as front page coverage this year from publications such as the Wall Street Journal and New York Times.
"We've got a great business, but real estate has its typical cycles," Friedman said.
That's one reason the privately held company, which employs about 300 people out of its Irvine Spectrum headquarters, has been branching out of late.
In September, REDC announced a venture with Chicago-based brokerage Jones Lang LaSaIIe Inc. to auction off distressed commercial real estate properties online.
Commercial real estate is widely expected to be the next shoe to fall in the economy. The default rate on commercial mortgages held by U.S. banks is expected to rise to its highest level in 1 7 years by the end of the year, according to figures from...