Housing

Overstock.com's Distressed Property Play (OSTK)

Overstock.com, Inc. (NASDAQ: OSTK) has announced its official debut of its real estate search application through the O-Hot Value Indicator.

The company site can be accessed at http://realestate.overstock.com.  Overstock believes the site is unique as it helps shoppers identify great deals from more than three million classified, foreclosure, and hard-to-find auction homes for sale.  The site is supposed to automatically highlight auction, distressed, and foreclosed properties.

If you are seeing tools like this launched, you have to wonder if perhaps the foreclosures, auction, and other troubles are very close to reaching their own bubbles.

Jon C. Ogg
June 10, 2008

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