Bidding Wars Still the Norm in Southern California

[Corey Dutton]

A local auditorium is rented and filled with a crowd of dreamers. A speaker, well versed in selling the dream of real estate riches, energizes the crowd and sparks their hopes. From there, the crowd enters the local real estate market determined to find the perfect real estate deal. This is how the local bidding wars begin and is the typical story of the Southern California real estate market. Asking prices are bid up to a point where they are well above retail, and competition for properties with any equity is fierce. Many other sub markets in the U.S. are also seeing low inventory levels and high competition. Is this happening in your local real estate market? Please share.

Posted by Corey Curwick Dutton

[Bill Larsen]

Hi Corey,

What area of so cal are you in? We buy in LA and OC mainly and haven't been seeing that you are talking about. Sure, fixer uppers on the MLS go higher than they should, but as for standard sales in decent condition there doesn't seem to be nearly as much competition as a year ago

-Bill