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Trizec, based in Chicago, is selling properties in markets where it has few assets.
In theory, these coaches had years of experience buying and selling properties.
"The only people who are selling properties are people who need money fast," he said.
And in contrast to his earlier acquisition spree, he is now selling properties.
American Skiing, based in Newry, Me., has been selling properties to pay off debt added during a 1990's expansion.
Veteran home buyers went to condo parties, selling properties many times over before they had even been built.
Countrywide and an affiliate of Bear Stearns were also among the lenders selling properties at the auction.
In recent years, as the Witnesses have shifted some operations upstate, they have been gradually selling properties.
"It's a risk, but in some areas where you might have problems selling properties, you either do that, or you won't be able to sell at all".
Ask friends and neighbours for recommendations, look for agents selling properties similar to your ownand ask three or four to come and give you a valuation.
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But with London's soaring property prices, there are large profits to be made from former council houses, with some owners re-selling properties for over £1m.
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