lawys
posted an artcle about the SF pennisula which of course is my home town and brings back many memories.
The market there has just gone through the roof with this second waive of Youngster money… Face Book and the others.
House are being listed at 1million and will get 20 to 30 offers and final price will be closer to 1.5…. this was the case back in the late eighties when apple was hot. then it cooled then with teh dot.com bubble you had that going on from 98 till 911, when it crashed…. So here it is again.
Then in our little markets accross the country certain markets are seeing 2 to 10 offers per property and the winning offer does not have to go up 500k but has to go up 5k or more.
To my Aussie Friends all I can tell you is the worm is turning….
We can all play this game for a while but when the economics get out of whack I suggest you look elswere because there will be another bust cycle.
I have some pretty tight contacts that I can get inventory from and I can't take them all down in the past I would just let them go…
<moderator: delete advertising>
I can do that for you even though I posted it under the heading 'worth a read' (which no one read:( )….
Now, just get me the money to buy a postage stamp in Woodside:)
http://www.bloomberg.com/news/2012-0…ale-falls.html
Not sure if I am allowed to post links or articles, link above – article below..
Bidding Wars Erupt as U.S. Supply of Homes for Sale Falls
By Prashant Gopal and John Gittelsohn – Mar 28, 2012 1:14 AM ETMatthew and Carina Hensley offered $10,000 more than the asking price for a three-bedroom house in suburban Seattle, then lost out to one of seven other bidders… <moderator: the article was too long to post here in full. Please see link>
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