The Boston Globe reports on the latest housing sales tactic. "A growing number of homeowners and builders, unable to sell homes or condominiums the traditional way, through an agent, are turning to Sotheby's-style auctions like this 26-property sale last month in Newton."

"With the housing market softening in US cities from Boston to Naples, Fla., to Utah ski towns, the National Auctioneers Association reported that residential properties valued at $14.2 billion sold in 2005 in live auctions, a 24 percent increase over 2003 sales."

"Auction houses said a growing surplus of homes on the market nationwide is expected to drive more owners to auctions in the future. Maine-based J.J. Manning, which typically holds one-house auctions, said this was its first auction of properties owned by multiple owners since the early 1990s downturn. The firm plans more this year."

"Sheldon Good & Co. also reports doing more auctions, including more on behalf of developers selling the unsold units in large hotel-condo projects, particularly in resort areas. 'We think there's a very high likelihood that trend is going to rise based on overbuilding in Boston, New York, Chicago, Houston, Orlando, and Jacksonville,' said Steve Good, chief executive. 'The slowdown is just beginning.'"

"Sellers 'get whatever the fair market' value is, Manning said. A less-than-stellar outcome at his recent auction may reflect the market's 'mood,' he said afterward. Buyers 'are waiting to see what happens, and I think the spring market is going to be somewhat of a bust.'"

"Auctioneers certainly hope so, since that would bring them more business. But despite a slowdown in home sales, it's too early to judge whether the housing market has fully shifted toward favoring buyers after years of rapidly rising sales."

"Before putting a house on the auction block, the owner selects a minimum, or 'reserve,' price, at which he or she is willing to sell. The auctioneer never reveals that price to bidders. In February, the high bids for 15 of 26 properties auctioned met their minimum prices. Numerous auction attendees gasped in unison when the high bid was $800,000 for a Cambridge carriage house with cherry floors and tiled fireplace that had been listed at $1.7 million after a year on and off the market."

"Patricia Hekmatpour was surprised by the poor outcome for her pink Boxford house. Hekmatpour, who happens to be an agent, turned to an auction after it languished on the market a year. The high bid, $460,000, was half the $900,000 minimum value she and her husband had placed on the house. 'I thought not only my property, but a lot of other properties would do much better,' she said."

"Some properties didn't sell because owners set minimums unrealistically high in today's market, Manning said. This echoes a complaint often made by real estate agents, who said some owners grappling with a softening market for single-family homes select asking prices that are too high."