Richmond, Va., Real Estate Auctions Gain in Popularity.

Byline: Jay-Anne Casuga

Dec. 28--A crowd of 30 gathers on the front lawn of a red-brick, cape-cod home in a quiet Henrico County neighborhood.

Surrounded by 40-foot-high pine trees, they stand on a carpet of brown pine needles on this picture-perfect autumn day. Finally, the moment they have waited for begins.

"Let's start bidding!"

Into the tranquil setting comes the booming voice of an auctioneer as he begins to belt out prices in a rapid, staccato beat.

"126."

"126."

"126."

"Do I hear $126,000?" the auctioneer asks with blurring speed.

"Don't let this house go for only $1,000!"

The auctioneer repeats his request for a few moments until finally he shouts, "Sold! For $125,000!"

The participants applaud the winner as she steps forward to meet with the auctioneer and sign the contract for the home.

Antiques and automobiles aren't the only things being auctioned these days. The number of real estate auctions is rising as more people choose to sell their property by auction.

"Real estate auctions are not common," …