Banks auction off foreclosed Ft Lauderdale homes, get well below asking

Auction firm Hudson & Marshall held an auction for 200 of its 400 Florida homes on Saturday, all foreclosed homes for sale by banks, and fetching bids less than their previous asking prices. Most of the homes, which were all located in Fort Lauderdale, will only be sold if the bank accepts the bid. An owner of the auction house estimates that 85 percent of the bids will be accepted.