CHARLOTTE, NC (AP) - More than 500 foreclosed homes from North and South Carolina have been auctioned for amounts that were far below their original asking prices.
The Charlotte Observer reported that the weekend auction included some properties that were sold for less than half their previous asking prices.
More than 1,000 people attended the auction Saturday and watched as pictures of the houses were flashed on a screen.
Property being sold ranged from houses valued at less than $100,000 to those that once were valued in the million-dollar range.
The Observer said its analysis showed foreclosure filings last year were up nearly 9 percent across North Carolina.