The California-based Real Estate Disposition Corporation auctioned off 375 foreclosed homes at the Javits Center yesterday, and the Times has a funny/sad take on the event that brought out a crowd twice as large as last year. Buyers had to pay 5 percent of the sale price on the spot, and mortgage specialists were on hand to finance the rest. As for some of the stock, a two-family home in Jamaica, Queens, sold for $125,000, and a small house in Hampton Bays, LI, sold for $185,000. [NYT]
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