Todd Talbot’s recently foreclosed home in Glendale, Arizona was appraised for $127,300 in 2010. Those were the days. Today, people are selling their homes anyway they can and using the latest technology to do so. There are people selling their homes using social media platforms including Twitter and Facebook.
Talbot”s home is currently on the online chopping block and being auctioned. The starting bid for the property was a penny. That’s right, one red cent. Luckily for Todd, or actually for the bank, the bid has risen substantially (at least in the world of penny auctions) to $2.42 as of Tuesday morning. According to ABC News, this is the first penny auction for a house.