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A growing number of home sellers are dealing with the Valleyhousing market's harsh reality by taking their business intovirtual reality.

Purveyors of Internet-driven real-estate auctions say their customers operate in a parallel universe where the quick and thededicated are rewarded with great deals on foreclosed or unwantedhomes.

"We create a sense of urgency in a marketplace where there reallyis no urgency at all," said John McCann, president ofScottsdale-based National Real Estate Auction Corp.

McCann's company is just one of several home-auction firmsoperating in the Valley. National recently held an auction for 227properties in the Phoenix metro area, which he said was the mostever included in a single U.S. auction.

Home auctions, which usually include both Web-based and livebidding, appeal to sellers who've failed to find a buyer thetraditional way, McCann said.

"Where we really thrive is in a market where there's a glut ofhomes for sale," he said.

According to the National Auctioneers Association, gross annualrevenue from residential real-estate auctions grew nearly 47percent from 2003 to 2007.

While automobile auctions still dominated the industry in 2007,selling $87.8 billion worth of cars and trucks, the fastest-growingsector was real-estate auctions, generating roughly $58.5 billionin sales.