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An Extract from the WSJ about Buying Market

Real Estate

Brea, CA

May 02, 2012

According to the wall street Journal housing market may have bottomed out. Of course, that's what the press has been saying for the last four years. But now, WSJ says buyers are bidding against one another:

A new development is catching home buyers off guard as the spring sales season gets under way: Bidding wars are back.
From California to Florida, many buyers are increasingly competing for the same house. Unlike the bidding wars that typified the go-go years and largely reflected surging sales, today's are a result of supply shortages.

We don't know. But our guess is that there's more pain to come from this housing bear market ... lower prices. And more collateral damage too.

Licensed Real Estate Broker

Littleton, CO

May 02, 2012

Thanks for the update and let's hope the worst of it is over!

Licensed Real Estate Agent

Las Vegas, NV

May 04, 2012

The Las Vegas MLS inventory has dropped from over 11,000 units from Spring 2011 to less than 6,000. Price appreciation is gradually happening as more Buyers will pay over appraised values. We need more inventory.

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