"141 homes sell for a total of $65 million at real estate auction
Housing - With 96 percent of the houses going for below the reserve price, "we lost money," says the builder"
O.K. I guess I don't understand the term 'reserve price.' Did they sell, or didn't they? Did only 4% sell in reality, or 2.35% of the homes available?
Is this a bait and switch? How about: "Hi, thanks for bidding on our homes. Unfortunately, you did not meet the reserve price. However, you are only 10,000.00 from meeting the reserve price, and with our easy payment plans you could have this home easily!"
The kicker: "None of the 29 Bend homes sold..."
Even at a loss?
Does that mean no bids at all?
6 days ago