Long Beach at a discount

The soft real estate market has developers of upscale condominium buildings auctioning brand-new units instead of trying to sell them conventionally. Thirty-eight units were sold at auction last week in West Ocean Two, a Long Beach high-rise completed in 2008.

LEAST EXPENSIVE
Original price: $512,800
Opening bid: $195,000
Winning bid: $228,000
Features: One bedroom, one bath in 893 square feet

MOST EXPENSIVE
Original price: $1,415,600
Opening bid: $625,000
Winning bid: $718,000
Features: Three bedrooms, two baths in 1,651 square feet