More Homes Being Auctioned At Courthouse

Title:
More Homes Being Auctioned At Courthouse

Description:
The high cost of living and lower home values have many people feeling nervous. Thursday, home ownership came to an end for 15 Johnson County people. The foreclosed homes were auctioned off from the steps of the courthouse. KMBC's Peggy Breit reported that the crowd at the auction consisted of bank representatives, attorneys and buyers watching home prices. Dave Solenberger has been attending foreclosure auctions for the past five years. "There are many more now than there used to be. People just can't sell their houses on their own, even when they become distressed," Solenberger said. "We have seen a drastic increase in the number of petitions and summons and foreclosures on the courthouse steps in the last two or three years," said Capt. Mike Marshall with the Johnson County Sheriff's Department. "We certainly sympathize with them, but we do have a responsibility to enforce the law and we do that with as much empathy as we can." In April 2004, 69 properties were sold on the courthouse steps, with bids totaling more than $9 million. In April 2008, the number or properties sold ballooned to 171, with bids totaling nearly $20 million. Buying a property on the courthouse steps requires cash or a cashier's check for the full amount of the sale. Thursday, all 15 home sales went back to the banks that held the original loans.

Author:
kmbctv

Tags:
KMBC, Kansas, City, Olathe, home, foreclosure, house, auction, courthouse,