Investors are out in droves snapping up discounted properties.

I haven’t done a scientific poll to prove this, but if you listen to real estate agents, auctioneers and even some prospective homebuyers who’ve had their purchase offers rejected you’ll believe that to be the case.

In today’s Boston Herald, for example, a story about an auction held in Boston on Monday night gives readers an idea of what kind of deals can be had in this housing market. At the auction, one bidder bought a Foxboro condo that previously went for $206,349 for a little over $89,000

 “First-time homeowners and investors walked away with some incredible  bargains,” the auctioneer told Herald reporter Thomas Grillo.

In some cases, these investors are also driving up prices. A friend recently told me about a multifamily home in Newton that he and his wife wanted to purchase. He put in an offer but there were several other offers on the home.

 He refused to increase his offer and the home eventually went to someone who was prepared to pay several thousands more than the asking price.

Such multiple offer situations and bidding wars are a bit disappointing for prospective homebuyers who’ve been told that price reductions make this a good time to buy — particularly in neighborhoods that they previously couldn’t afford.