On the Block

" On March the ninth. Well we reported earlier on the big drop in existing home sales for last month falling to their lowest level in close to twelve years. For people trying to sell their homes it's a pretty bleak picture out there really. Save for the new homes that were under construction before the economy went south and now. Many builders are trying something different skipping the whole open house and realtors showing scene and going straight to auction. Putting their homes on the block."

" Amenities and high end touches everywhere you look but -- is money so this house is no longer just up for sale. It's up for auction sellers are really looking for other options I think they're really more open and he's kind of thinking out of the box. Auctioneer Janelle Harris says she's hearing from more builders started projects before the economy tanked. They're bypassing traditional listings to unload premium inventory. They're not in the business of holding on to happy there and developing and moving properties -- yeah forty's for these towns it's not typical fast talkin' bargain price -- Park closures these particular properties are not distressed. They're not bank -- builder Dan's news is selling several Denver area properties valued in the million dollars plus arranged on the online auction site FRE dot com. He says auction doesn't mean -- again. It's just another tool to use. To be able to showcase your properties. In this atmosphere buyers are setting the true market value of the homes builders say as much as they want to unload they have bills are paid to and can only go so low and if you're going auction style -- arrived ready. I think the auction format. Hopefully gives a little more sense of urgency to do something. Now -- those in the know say do your homework and have a chunk of change on hand for deposit. Because that house will be yours about thirty days after you hear the word sold. In Denver police -- good yeah boxes."