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Out of the 4 day event, there were aprox 550-600 homes, of which 99 were rejected. Here is a link to their web site with the new "auction liquidation price" minimum reserve.http://www.ushomeauction.com/postAuctionSales.php?auctionID=H-005

Here the problem with REDC, most of the properties are sold "subject to conformation". This means that there is a minimum reserve amount, and that the bank has to OK the high bid. In the case of the recent 4 day southern California auction, 99 bids were rejected by the banks, and now REDC is...