Most of these homes were financed by a bank so I would imagine that you'd be bidding against the bank until you reached the payoff or there predetermined price. Still I am amazed at the number of homes in Atlanta that are in foreclosure. Did this many people buy more house than they could afford? The prices didn't sky rocket the last 10 years and the economy is not tanking. There has got to be some bargains amoung the flock.
What a difference 100 miles can make. My area of GA is no where near this bad. Matter of fact I haven't found as many foreclosures as I would of liked so far this year.