Courthouse-step auctions offer 1,336 properties in foreclosure — 17 are sold

By J.N. SBRANTI / The Modesto Bee

Another foreclosure record was set in November as 1,336 properties were offered to the highest bidder on the courthouse steps in Modesto, Merced and Stockton.

Now here’s the real surprise: Only 17 of them sold, despite lenders offering deeply discounted prices.

Every weekday, starting about noon, auctioneers seek buyers for foreclosed properties of all shapes and sizes. But more times than not, no one bids.

To view all of this article, please visit this link at The Modesto Bee