Relevant:
- Greenwich Mansion Listings Pulled to Wait for a Better Day
- One Of America's Most Expensive Mansions Sells For 73% Below Ask
- Professional investors move into flipping foreclosed homes
- Shadow Housing Inventory: Getting an Actual Housing Picture of California Foreclosures and REO Numbers
- Stop sugarcoating the housing market: Economist warns that buyers face increasing troubles
2011-08-30 — bloomberg.com
"Real estate auctions, long used in the sale of foreclosed properties, are becoming more popular among wealthy homeowners to drum up interest for mansions that have languished on the market after the housing crash. In exchange for a quicker sale, many sellers are accepting price cuts of 50 percent or more."
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