Some Hudson Valley homes auctioned off
An auction of foreclosed homes in Manhattan Sunday included some from the Hudson Valley.
A 3,300-square-foot home in Port Chester received a starting bid of just $149,000. Another home in Yonkers sold for $340,000, and one in Nyack sold for $115,000. The whole auction process struck some as unseemly.
"I think it's ridiculous that we are gaining from what people have lost and I don't think it's fair," says Stephanie Graham, of Yonkers.
In a sign of the difficult economic times, banks looking to unload bad debt and investors in search of a deal descended on the Jacob Javits Convention Center in Manhattan Sunday for the auction of New York metro-area homes that had been foreclosed on.