A 3,000-Sq.-Ft. Colonial Home in Bankrupt Detroit has Spurred an Online Bidding War

Bankrupt Detroit is attracting thousands of investors and bargain hunters angling to get the best bids on abandoned or foreclosed homes, and a bidding war via the city’s online auction site has grabbed national media attention.
A Detroit “fixer-upper” reached a record bid of $135,000 before the bidding war caused the auction website, BuildingDetroit.org, to crash last week. A local DJ says he won the house fairly before the site crashed and he will sue to get it. But the house is going back on the auction block Friday.

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