Real Estate Vultures Are Out

We are seeing this here in South Florida.  Some homes have had up to 40 offers on a home.  There are bidding wars going on with foreclosed homes.  There is no low balling anymore and good luck getting a seller to pay for closing costs.  At least we have the $8,000 tax credit to help those cash strapped borrowers. 

http://money.cnn.com/2009/06/19/real_estate/reits_bargains_commercial_properties.fortune/index.htm?section=money_realestate