SAN ANTONIO -- Banks in need of ridding itself of foreclosed properties are taking potentially risky actions to clear their inventory.

A local corporation is auctioning about 100 San Antonio-area foreclosed homes with starting bids in the thousands. Realtor Mike Hermes pointed out one home in the Elm Creek subdivision on the city's northwest side -- a 6,700 square foot home -- with a low starting bid in an upcoming auction.

"If this house was fixed up and ready to go," he said. "A comparable $200 per square foot in Elm Creek makes it $1.4 million."

The Real Estate Disposition Corporation is handling a 9:30 a.m., Saturday auction at the Henry B. Gonzalez Convention Center downtown.

A home in Salado Creek, once valued at $259,000, will have a starting big of $59,000 in order to lure bargain hunters to Saturday's auction, Hermes said.

A listing of the homes available in Saturday's auction can be found on the REDC Web site.