Has anyone had any success with Homesearch.com?

[William Murrell]

I participated in two auctions for two separate properties nearby. The price at the time was great, and though I didn't win, someone got a great deal on both of them. But neither met reserve and then a week later, they just relisted the properties as if nothing ever happened. It seems like they might just have the reserve set somewhere up around FMV (which I don't think any person trying to buy at auction is really eager to pay) and just keep running them over and over.

Has anyone had success with Homesearch or is it just a waste of time?