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Largest Auction of Homes ever

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The Dog

Thread Starter
Senior Member
Joined
Apr 18, 2005
Professional Status
Certified General Appraiser
State
Oregon
"With 96 percent of the houses going for below the reserve price, "we lost money," says the builder"

Interesting article in today's Oregonian about the largest real estate auction ever.

http://www.oregonlive.com/news/oregonian/index.ssf?/base/business/1197863753127580.xml&coll=7

What was interesting was that the homes in Bend did not sell. Bend has been a very active and desirable market. Last weekend, the wife and I were visiting her parents (he is a retired appraiser/assessor/legistlator) and dad was commenting how bad that market was.

Anyway, thought some might like to read about it
 
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