Big Investors Rummage For Profits in Foreclosed Homes

``Blackstone and Colony have been especially aggressive in foreclosure-racked Georgia. On a Tuesday morning, about 200 people gathered in front of the courthouse in Gwinnett County as an auctioneer opened the bidding on about 900 homes. "Game on," said Albo Antonucci, a buyer working for Colony, rushing to join the crowd. One early sale was a three-bedroom, two-bathroom house in Duluth, Ga. Bidding started at $43,515. Colony had been studying a published list of thousands of properties to be auctioned this month in the Atlanta area, driving by the houses and doing price comparisons to determine the maximum price the firm could pay for each house and still hit their target yields. ''