HOUSTON -- An open house in northwest Harris County was not your typical homes tour. On this tour where 30 luxury townhomes, each worth $300,000 and all up for auction.

The bids start at a bargain price of $80,000.     

Almost too good to be true?

Dozens of people had to see it to believe it Saturday.

The developer has committed to sell 10 of the 30 units regardless of the price.

So, while bids start at $80,000, they could sell for as low as a dollar. Although it is not likely.

“I've got $10, I'll take ten of them,” joked prospective homebuyer Walter Johnson.

But the reason for the auction is no laughing matter. A staggering national economy and catching up on Houston

“Your market here is still very strong,” said auctioneer Michael Fine. “What's happening is not a drop in price, what's happening is that the time to sell a property is taking longer.”

The auction cuts the time it takes to sell a property and passes along the saving to homebuyers.

“It presents the opportunity to bid on the units you want and go as high as you want,” said Johnson, as he eyed properties he wanted to bid on.

That is why the doors of all the units are open the next two weekends until the June 1 auction.

The hope is big bidders will become big homebuyers.