Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

2 of 4
Some benefit from bargain prices
Some benefit from bargain prices
On the last Sunday in January, a few hundred people filed into a ballroom at a hotel in Midtown Manhattan to bid on more than 140 foreclosed homes in New York, New Jersey, Connecticut and Pennsylvania. A quick talking auctioneer called out for offers at a blistering pace as spotters worked the crowd looking for bids.

The room was filled with a mix of people; the curious, first time home buyers, small time landlords and people looking to flip properties.

Tino Marcal of Danbury, Connecticut is already turning a profit on several foreclosed properties he picked up at auctions in the past. "I picked them up for probably 20 to 30% below the fair market price. I was able to fix them up and rent them out for a good income."

NEXT: Banks, auctioneers, communities gain
Last updated February 09 2011: 9:51 AM ET
  • Find Homes for sale
    Real estate and homes for sale on Trulia

  • Property Type
  • Find a home in:
  • New York | Atlanta | Chicago | Los Angeles
  • Washington D.C | Houston | Philadelphia | More options
More Galleries
Where Millennials are buying homes Here are the top 10 markets where Millennials represented large shares of mortgages, according to Realtor.com More
Ralph Lauren's many looks A look at his brands and iconic creations More
8 biggest job killing companies of 2015 Whole Foods became the latest corporate giant to lay off workers. Here's a look at the companies that have announced the most jobs cuts this year. More

Special Offer