New spin on foreclosure auctions

Site uses daily price reductions to woo buyers

I’m always a sucker for the next good idea, and the single-family residential market could use a good idea. With more than 3.6 million homes on the market as of third-quarter 2009, perhaps someone could invent a way to sell more of those homes and stabilize the supply-demand equation.

Jim Hodson and Dan Connell certainly haven’t built the automatic sell-a-home machine, or even topped the Rocky & Bullwinkle Show’s Wayback Machine that could return us to a point before the subprime mortgage crisis tipped the country into a recession, but they did create and are now putting to market one of the more unique concepts to help move foreclosed homes quicker.