Property re-listed over and over with HUBZU

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Hi!  I have a question about a property that is being relisted over and over with Hubzu.  We have been watching it for several months.  It will go "under contract" with say a high bid of like 32, 000 and then my husband will get an email saying they are excepting back up bids starting at 54, 000?   And then within a week its back on the market.  

Is someone really bidding on this house?  Does anyone really know what is going on and a strategy for actually buying the house? How can you figure out what the reserve price might be for the property.  

Thank you for any insight into this situation.  

As I posted on another topic. Patience. Keep bidding at the same price. They see you bidding. They just want to find someone who will over pay. It's called a "seller's market" for a reason.