Twenty homes were for sale at unbelievable prices. One home in Springfield was previously valued at $73,000. Its starting bid on Tuesday night was $500. Another one that was worth $1.4 million started at $259,000.

"You want to know the market price for a property? Come to an auction. Look to your left, right, front, back. The person bidding against you is going to set the price," said Trent Ferris of REDC.

The auction company says folks got dream homes at 50 to 60 percent of previous values, because they're foreclosures that banks needed to get rid of.

"We kind of see ourselves as the silver lining in this current crisis that's going on. It's very tragic that folks have lost their homes, but we're not in that business," Ferris said.

Instead, it holds these auctions all over the country, selling 80 to 90 percent of the homes and, it hopes, helping local economies.

"Put people back in those homes and increase that tax base. Folks that buy that; they're going across the street here to the Target, to the Home Depot, Lowes, and they're just generating that ripple effect throughout the economy," said Ferris.

The auction company says about 80 percent of buyers actually live in the homes they buy at these auctions. Wednesday, the company is holding an auction in Kansas City.

To see listings on REDC's website, click here.