2 of 4
BACKNEXT
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
Cool cars from the 2015 Geneva Motor Show These are some of the stand-out cars and trucks on display at the 2015 Geneva Motor Show. More
Yahoo: 20 years of hits and flops The company that once was Google turns 20. We look back at the many, many brands it has cycled through. Remember Geocities? Broadcast.com? More
10 big dot-com flops Remember Pets.com? The Nasdaq is roaring back towards its all-time high. Here are some of the biggest dot-com busts from the last time the Nasdaq topped 5,000. More

Special Offer