What do you see in your housing market? Auctions? "Two new East Harlem condominiums will hit the auction block next month as their anxious developers forego the traditional brokerage route and instead attempt to unload the entirety of their inventory in one shot, auctioneer Paramount Realty USA said. In all, 34 units once listed for a combined $20 million will go up for sale, with eight of those units being sold with no minimum bid. The first of the two buildings, the 12-unit Winfield condo was developed by Lou Foundos. Prices had ranged from $325,000 to $650,000 per unit previously, but suggested opening bids at the auction begin at $149,000."

"'I need to sell at least a substantial portion of the units in my building very quickly to help facilitate financings,' Foundos explained."

"The sprawling Banning Lewis Ranch development site, whose owners filed for bankruptcy last year, could go up for auction in late June. The owners’ proposal is the latest development in the bankruptcy of the 21,500-acre ranch, which makes up most of Colorado Springs’ east side."

"As originally envisioned by its owners and the city of Colorado Springs, the development eventually would include 75,000 residences, 180,000 people and 79 million square feet of commercial space."

Property tax issues? "With thousands of appeals expected from property owners, Gwinnett County could again face a temporary property tax billing. With a May 31 deadline, about 5,000 appeals had been filed, as of Tuesday afternoon. In the past five months, officials have worked to close a possible $18 million budget gap expected by an 8.7 percent drop in the county’s tax digest, another fall due to the crash of the housing and commercial property market."

"While that gap was closed, newly elected Chairwoman Charlotte Nash asked for another evaluation of the situation, with officials projecting a low, middle and high scenario for the drop, which could mean a drop of up to $46 million. 'It’s not without pain that we try to remain even,' Nash said of the possibilities."

"Vast swaths of Franklin County are overappraised for tax purposes - in some cases by large margins - which means your tax bill could be based on an inflated value of what your home is worth, a Dispatch analysis of property-tax records shows. Thanks to plunging property prices, appraisals were too high on more than half of the 24,000-plus Franklin County properties that sold from 2008 to 2010, which were included in a state sales-ratio study."

"'This reappraisal will certainly be unprecedented in at least a generation,' Franklin County Auditor Clarence Mingo said."

"The auditors' opinions of values were correct at the time (they were set six years ago), 'but times have been tough,' said Rick Benjamin, president of the Columbus Board of Realtors. 'I just purchased a (Dublin) home last August; the appraised value was $248,000 - the sale price, $205,000.'"

Or foreclosures? "Stanislaus and San Joaquin counties in April continued to post among the highest foreclosure rates among major metropolitan areas in the country, RealtyTrac Inc. is reporting. The uptick in San Joaquin County filings in April was due primarily to a surge in bank repossessions, said RealtyTrac spokesman Daren Blomquist."

"Banks recorded 504 repossessions in the county last month, up nearly 32 percent from 382 repossessions, also called 'real estate owned,' in March. 'You kind of see these mini-waves of REOs hit,' Blomquist said. 'It's almost like the lenders are pushing through batches of REOs as they are able to or deem appropriate.'"