Hubzu - How much to bid?

[Gayle Bennett]

I recently was high bidder on a Hubzu Auction (actually only bidder), but the price did not meet the reserve. I originally bid $67k and was emailed a counter offer for $92k, which I did not accept. The property has been relisted  and I received another email telling me that the listing price had been reduced from $106,700 to $95,200. Is this the reserve? And if it is, why would they have offered it to me at $92k just last week? I would really like to get this property as our personal home since it is near my children, and am kicking myself for not accepting the previous offer. Now it is up for auction again and there still does not seem to be any interest. My question is, do I bid the minimum again and hope they will send me the counter offer or do I bid a higher amount to get it over the reserve (which I think is probably the $92k they offered it to me last time). I really don’t want to lose this house as it is perfect for our family, but I also don’t want to overpay, especially since I already know it will need a new septic and some other costly repairs. 
Thanks 

[Gayle Bennett]

@Elijah F. I was the winning bidder and I should close next week! I bid $67000 and was the only bidder, but did not reach the reserve. They came back with a counter offer of $83860 which I accepted (last week the counter was $92k). There is a $5500 REO closing credit which brought the price down to $78360. The appraised value on the property is $189,000 and the current listing suggestion on realtor is $228,000 so I don't think I can go wrong on this one :) I'll let you know next week after I get inside if I am right.