Hubzu - fake bidder?

[Andrew Sime]

Hello,

Interested in a property on Hubzu.  There have been a few bidding periods so far where the house goes up, a bidder bids about 1 hour prior to the end of the auction, no other bidders, the auction ends, and the house is listed again in a couple days.  It has gone through 3 periods, the starting bid price dropping a little each time.  Each time there has been 1 bidder placing a bid about 1 hour prior to the end of the auction.  The bidder's initials have been the same each time (Hubzu only shows you first letter of first name followed by ******, first letter of last name followed by *****).

My question is, Has anyone read or experienced that Hubzu bids like this to encourage interested parties to place their bids?  It just seems strange to me.  Could certainly be another investor as well.

I have yet to bid as I believe the price has a long way to come down to be in line with what it's worth.