Those 4 units are for 1st time buyers with less then 48k annaul salary. The REIC sent me a couple of E-mails after the auction, they still want high 200K for any 2bd/2bth. They also sent me an e-mail regarding homes that didn’t sell in the last auction. What I’ve noticed is that most homes that sell, sell at about the midway point between “previous valued at” price and starting bid. Bids that are closer to starting bid usually don’t get sold and eventually go back on the market. Although prices at these auctions have not been that great, they have helped move the market along. The banks can not rely on these auctions to sell there homes at top dollar anymore.