While some of us count down the time until tropical storm Fay leaves Florida behind, there are only about 12 hours left until FixedLoans.com goes on sale on Bido. Not to let this intro go without citing my home state again, the Real Estate market in Florida has been hit particularly bad; homeowners that were lured into ARM type loans have been struggling since the market bubble burst, as interest rates ballooned.
On with the domain auction.
Fixed (rate) loans are the most straightforward home loans: for the entire lending period – be it, 15 years or 30 years – the interest rate is locked at a number fixed at the time of signing the loan papers. Currently, these rates float below the 7% mark.
FixedLoans.com was apparently owned in the past by a famous Greek domain entrepreneur, Michael Bahlitzanakis. If you cannot pronounce his name easily, just take a look at a couple of domains in his portfolio: Mall.com, City.com. Apparently, Michael obtained FixedLoans.com in 2006 for a mere $10,000 – at a time when most lenders scorned the fixed loan option and offered lucrative deals on 3 and 5 year ARM loans.
Today, these types of loans are the least favorite: the fixed loans are more common, especially since lenders have cut down on handing unsecured loans left and right to people with less than stellar credit history.
So, FixedLoans.com goes on sale on Bido – that’s going to be a single day event, much like every other sale that occurs on the newly established domain auction venue. Bido has tapped into the niche market of “one domain per day” auctioning and they seem to be doing pretty well. There are no bidding minimums; everything starts at $1 with no reserve price.
In theory, you can grab FixedLoans.com for one buck – or will it end substantially higher than what Michael Bahlitzanakis paid for it, just two years ago?
Was this domain sold on bido.com? I can’t seem to find any info on what it sold for. For the record I would never auction any of my domains on bido.com. I do not agree with their premise of a one hr auction. 24 hrs yes maybe, 1 hr… That is just a joke and a half. I think this point is well proved by the crash that happened during the FixedLoans.com auction. Hay Bido ever heard of clustered or multiple servers? duhhhhh Why concentrate all that traffic into one hr? As a seller I just would not put up with it. As a buyer I would not put up with an over loaded non responsive site such as this. Thus my opinion that this concept is a joke and a half.