How to Sell in a Down Market And Get a Deal on a New Home

Real Estate Journal
By Emily Friedlander and Lauren Baier Kim

Going, Going, Even Auctions Aren't Moving Homes
Builders and real-estate agents are turning to auctions to get rid of excess homes on the market, with mixed success. The Orlando Sentinel reports on an auction held at the DeBary Golf & Country Club that was called off because the builder, Lakeside Homes of DeBary, was losing too much money.
"The bidding was sluggish. One unit originally priced at $355,000 sold for $165,000. And so with just a few town homes gone, auctioneer Eddie Haynes called off the sale," the Sentinel reports.
On Saturday in San Diego several hundred people turned out for an auction of 56 new townhomes and condominiums put on the block by homebuilder D.R. Horton, reports the San Diego Union Tribune.
How many units were sold? That information wasn't available because, as the paper reports, the event was closed to the media.....